Norwegian Air to jointly own Airbus fleet with China Construction Bank

OSLO, Oct 24 (Reuters) - Norwegian Air has struck a deal with China’s CCB Leasing to take joint ownership of a large fleet of aircraft that the budget carrier has ordered from Airbus, Oslo-listed Norwegian said on Thursday.

CCB Leasing Corporation DAC (CCBLI), a wholly owned subsidiary of China Construction Bank Corp, will own 70% of the joint venture, while Norwegian Air’s Arctic Aviation unit will own the remaining 30%.

“Under the terms of the agreement, the joint venture will purchase from Arctic an initial 27 Airbus A320 NEO aircraft to be delivered from 2020 to 2023,” Norwegian said. (Reporting by Terje Solsvik; Editing by Muralikumar Anantharaman)