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Norwegian has signed a letter of intent with Boeing for the purchase of 50 Boeing 737 MAX 8. The deal also includes an option to purchase other 30 planes.
It is planned that the 50 aircraft are delivered in the period from 2025 a 2028, which coincides with the expiration of existing leases and, Thus, implies a limited net increase in the company's aircraft fleet. The parties aim to conclude and sign the final agreement by the end of June 2022.
The company plans to finance the outstanding balance of prepayments (in English ‘Pre Delivery Payments’ or ‘PDP’) with a positive cash flow from its operations. A significant proportion of the aircraft will be directly owned by the company, which guarantees an optimized and balanced financing structure. As a result of the conclusion of this agreement, Norwegian estimates to post a net profit of approximately 2.000 million Norwegian kroner (196,5 millions of euros).
Recall that Norwegian previously had an aircraft purchase agreement 737 MAX, but given economic complications generated by the pandemic, the airline canceled this order, so this is a reactivation of said plan.
The agreement shows the desire and the will to Norwegian to operate a modern and fuel-efficient aircraft fleet. The Boeing 737 MAX 8 is about a 14 % more fuel efficient compared to the previous generation of aircraft and will make an important contribution to the company's commitment to reduce emissions by 45 % for 2030.
“The overall terms of the agreement are attractive to Norwegian and fit well with our long-term fleet strategy and route schedule.. Now we can offer our customers the latest in aeronautical technology, and they will be able to travel with modern and fuel-efficient aircraft that help significantly reduce our carbon footprint. The deal also strengthens the company's equity, with the result that Norwegian's solvency is strengthened”, has declared Geir Karlsen, Norwegian CEO.
A Boeing likes this news amid an accelerated recovery of orders and clients after the famous problems of the family 737 MAX.
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