BTN Europe presents an overview of business travel and MICE predictions for this year
ExCeL London - 24-25 February 2021
Low-cost carrier Norwegian has postponed deliveries of Airbus A320neos and A321LRs as part of a plan to cut costs.
The agreement with Airbus to reschedule part of the airline’s order book was reached through Norwegian’s subsidiary company Arctic Aviation Assets DAC.
Norwegian said the postponement is expected to reduce its capital expenditure by around US$570 million across 2019 and 2020.
The company has been implementing a cost-cutting strategy following a period of growth. The aircraft rescheduling follows a move to issue underwritten rights of nearly £270 million in January.
Norwegian posted a loss of around £131 million for 2018 – a significant increase on the £27.4 million deficit recorded in 2017.