Norwegian Air to update on fleet deal by year-end

Norwegian Air, which is in talks with an unnamed partner on a fleet joint venture, plans to provide an update on the deal before the end of the year and has "many interested parties", its CFO said. "The aim is to find a partner that can take a bit of equity. Norwegian doesn't necessarily have to be a majority shareholder in that JV," Geir Karlsen said Tuesday. Shares in Norwegian surged last week after it confirmed that it was in advanced talks with an unnamed partner on a deal to create a new partnership to fund aircraft it has on order, a deal which would help free up cash. "Hopefully we will be able to come to the market with more news on that transaction, structure, before the new year." The potential JV deal for up to 140 planes it has on order with Airbus and Boeing could help raise US$960m for Norwegian according to reports. <br/>