Norwegian Air Shuttle could sell leasing arm to raise cash
Norwegian Air Shuttle, could sell its aircraft leasing business if it needs to raise cash, it emerged Friday. Speculation has been growing that the rapidly expanding airline could be facing a cash squeeze. Ryanair CE Michael O’Leary recently suggested that the carrier could run out of money. CFO Tore Otsby told said that the group had the option of selling its leasing unit, which buys aircraft and rents them to the airline, to raise money if it were needed. Potential buyers have expressed interest in the leasing division, which owns about half the airline’s Boeing and Airbus craft, but Otsby said that Norwegian would be unlikely to consider a deal before 2019 or 2020. The airline group leases many of its craft through companies established in Ireland, where it has also based a key subsidiary, Norwegian Air International. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-09-11/unaligned/norwegian-air-shuttle-could-sell-leasing-arm-to-raise-cash
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Norwegian Air Shuttle could sell leasing arm to raise cash
Norwegian Air Shuttle, could sell its aircraft leasing business if it needs to raise cash, it emerged Friday. Speculation has been growing that the rapidly expanding airline could be facing a cash squeeze. Ryanair CE Michael O’Leary recently suggested that the carrier could run out of money. CFO Tore Otsby told said that the group had the option of selling its leasing unit, which buys aircraft and rents them to the airline, to raise money if it were needed. Potential buyers have expressed interest in the leasing division, which owns about half the airline’s Boeing and Airbus craft, but Otsby said that Norwegian would be unlikely to consider a deal before 2019 or 2020. The airline group leases many of its craft through companies established in Ireland, where it has also based a key subsidiary, Norwegian Air International. <br/>
