Arctic Aviation Assets, a subsidiary of Norwegian Air Shuttle ASA ("the Company"), has today signed an agreement for sale of two Boeing 737-800 aircraft. The aircraft are currently operated by the Company, and the delivery will take place in third quarter 2019. The transaction is expected to increase the Company's liquidity by USD 23 million after repayment of debt.
The aircraft were sold to a Chinese company, who in turn will lease them to a Pakistani airline.
Sale proceeds will be used to repay debt and to increase the Company´s liquidity. The sale is part of the ongoing fleet renewal program and as such in line with the Company´s long term strategy.