Norwegian Air orders 50 Boeing MAX aircraft, resolving dispute

Norwegian Air has agreed to buy 50 Boeing 737 MAX 8 aircraft and secured options for a further 30 of the planes at an undisclosed price, ending a contract dispute between the two firms, the budget carrier said on Monday. The deal is a boost for Boeing, anchoring long-standing customer Norwegian to the US plane maker after the Oslo-based airline earlier this year said it would consider switching to rival Airbus. For Norwegian the deal marks a return to aircraft ownership after it was forced to resort to leasing deals during bankruptcy proceedings that rescued the company last year. The deal includes compensation to Norwegian as settlement for previous disputes over MAX and Dreamliner aircraft deliveries and technical issues, triggering a financial gain of 2b Norwegian crowns ($212.2m), the airline said. The conflict with Boeing was the sole issue that had not been resolved during last year's restructuring of the airline, Norwegian Air CE Geir Karlsen said. "This was the final piece of the puzzle ... it will terminate the lawsuits," Karlsen said. The financial gain will be booked as soon as a deal is signed, expected by the end of June, boosting the airline's equity.<br/>