Norwegian Air Shuttle ASA - Sale of five Boeing 737-800 aircraft
Arctic Aviation Assets, a subsidiary of Norwegian Air Shuttle ASA ("the Company"), has signed an agreement for sale of five Boeing 737-800 aircraft with Aircraft Recycling International Limited (“ARI”) a commonly held entity of China Aircraft Leasing Group Holdings Limited (“CALC”). The aircraft are currently operated by the Company, and the deliveries will take place late in Q4 2019 and Q1 2020. Sale proceeds will be used to repay debt and to increase the Company´s liquidity. The transaction is expected to increase the Company's liquidity by approximately USD 50 million after repayment of debt and have a positive equity effect. The sale is in line with the Company’s continued strategy of capitalizing on the scale built up over the last few years and the changed focus from growth to profitability.