Arctic Aviation Assets – a subsidiary of Norwegian Air Shuttle – has signed an agreement for sale of five Airbus 320neo aircraft.
The aircraft are currently leased out and thus not operated by the company. Delivery will take place during the fourth quarter of 2018.
The transaction is expected to increase the company’s liquidity by $62 million after repayment of debt and have a positive equity effect. Sale proceeds will be used to repay debt and to increase the company´s liquidity.
This week, Norwegian reported a result (EBT) of 1.6 billion NOK (£149 million) for the third quarter (Q3) 2018 and net profit was 1.3 billion NOK – an improvement of 18 per cent compared to the same quarter last year.