Norwegian to divest itself of 140 aircraft



Norwegian 737-800 at Boeing Field

Norwegian (DY, Oslo Gardermoen) is in the process of divesting itself of up to 140 aircraft. In a 1Q18 earnings disclosure, the Scandninavian low-cost carrier said the divestiture would include future aircraft deliveries, the disposal of older aircraft, and either the sale or spinning off of excess aircraft into leasing structures.

CEO Bjorn Kjos did not elaborate on which deliveries would be affected but it is recalled that Norwegian has already switched six B787-9s on order from Boeing (BOE, Chicago O’Hare) out to BOC Aviation. In addition, five A320neo scheduled to be delivered in 2018, will be leased to HK Express (UO, Hong Kong Int’l).

With these changes, during FY 2018, Norwegian will add two new B737-800s, eleven new B787-9s, and twelve B737 MAX to its fleet this year against the previously anticipated two B737-800s, twelve B737 MAX, five B787-9s, and four A320neo.

The ch-aviation fleets module indicates that, inclusive of its various AOCs, Norwegian operates: fifty-two B737-800s, eight B787-8s, and ten B787-9s at its Norwegian unit; one B737-800 at its Norwegian Air Argentina unit (to be transferred to Europe until its South American launch later this year); sixty-four B737-800s and six B737 MAX 8s at its Norwegian Air International unit; and one B737-800 and fourteen B787-9s at its Norwegian UK unit.

Concerning IAG International Airlines Group‘s interest in Norwegian, Kjos said the Board of Directors had established a steering committee and engaged financial and judicial advisors “to review the situation, handle relevant inquiries and to safeguard the interests of all shareholders.”

Norwegian said it had “received several inquiries” following IAG’s announcement of its acquisition of a 4.6% stake in the airline.

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