November 5, 2019 / 6:41 AM / 17 days ago

Norwegian Air to sell six aircraft, boosting cash by $55 mln

OSLO, Nov 5 (Reuters) - Norwegian Air has agreed to sell six of its Boeing 737-800 aircraft to Pembroke Aircraft Leasing 5 Limited, a subsidiary of Standard Chartered Plc , the Oslo-based budget carrier said in a statement.

“The transaction is expected to increase the company’s liquidity by approximately $55 million after repayment of debt and have a positive equity effect,” Norwegian said.

“The sale is in line with the company’s continued strategy of capitalizing on the scale built up over the last few years and the changed focus from growth to profitability,” it added.

The aircraft are currently operated by Norwegian and deliveries will take place in the fourth quarter of 2019 and in the first quarter of 2020. (Reporting by Terje Solsvik; Editing by Clarence Fernandez)

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