Arctic Aviation Assets converts 2 737 MAX options
Arctic Aviation Assets (AAA), the leasing subsidiary of Norwegian, has exercised options on 2 Boeing 737 MAX aircraft, converting them to firm orders. AAA also signed LOI June 14 for a sale-and-leaseback transaction of 11 Boeing 737-800s currently operated by Norwegian. AAA now has 110 737 MAX models on firm order, plus 90 remaining purchase options. The LOI for sale-and-leaseback of the 11 aircraft is expected to reduce the Norwegian Group’s financial net debt by NOK1.4b (US$165m). The latest actions follow the May 4 announcement of a sale-and-leaseback deal on 8 new Boeing 737-800s to be conducted in Q2 2107. Following the sale of those 8 new deliveries, together with the 11 aircraft already in the fleet, the Norwegian Group estimates a positive net cash flow impact of approximately NOK2.3b. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-06-16/unaligned/arctic-aviation-assets-converts-2-737-max-options
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Arctic Aviation Assets converts 2 737 MAX options
Arctic Aviation Assets (AAA), the leasing subsidiary of Norwegian, has exercised options on 2 Boeing 737 MAX aircraft, converting them to firm orders. AAA also signed LOI June 14 for a sale-and-leaseback transaction of 11 Boeing 737-800s currently operated by Norwegian. AAA now has 110 737 MAX models on firm order, plus 90 remaining purchase options. The LOI for sale-and-leaseback of the 11 aircraft is expected to reduce the Norwegian Group’s financial net debt by NOK1.4b (US$165m). The latest actions follow the May 4 announcement of a sale-and-leaseback deal on 8 new Boeing 737-800s to be conducted in Q2 2107. Following the sale of those 8 new deliveries, together with the 11 aircraft already in the fleet, the Norwegian Group estimates a positive net cash flow impact of approximately NOK2.3b. <br/>
