April 24, 2019 / 7:36 PM / 2 months ago

Norwegian Air reschedules aircraft delivery to cut $2.1 bln in 2019/2020

OSLO, April 24 (Reuters) - Norwegian Air has agreed with Airbus and Boeing to reschedule delivery of aircraft to cut capital spending, the loss-making budget carrier said on Wednesday.

In total, the announced restructurings and postponements of Boeing and Airbus aircraft delivery will reduce capital expenditure for 2019 and 2020 by $2.1 billion, it said.

The Oslo-listed airline has shaken up the long-haul market by offering cut-price transatlantic fares, but its rapid expansion has left it with hefty losses and high debts. (Reporting by Nerijus Adomaitis; editing by Emelia Sithole-Matarise)

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