Norwegian Air reschedules aircraft delivery to cut $2.1 billion in 2019/2020

FILE PHOTO: A Norwegian Air Boeing 737-800 is seen during the presentation of Norwegian Air first low cost transatlantic flight service from Argentina at Ezeiza airport in Buenos Aires, Argentina, March 8, 2018. REUTERS/Marcos Brindicci/File Photo - Copyright Marcos Brindicci(Reuters)

By Reuters

Published on 24/04/2019 - 22:04•Updated 11/05/2024 - 05:15

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OSLO (Reuters) - Norwegian Air has agreed with Airbus and Boeing to reschedule delivery of aircraft to cut capital spending, the loss-making budget carrier said on Wednesday.

In total, the announced restructurings and postponements of Boeing and Airbus aircraft delivery will reduce capital expenditure for 2019 and 2020 by $2.1 billion, it said.

The Oslo-listed airline has shaken up the long-haul market by offering cut-price transatlantic fares, but its rapid expansion has left it with hefty losses and high debts.

(Reporting by Nerijus Adomaitis; editing by Emelia Sithole-Matarise)

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Iranian carpet shop owner Ali Faez works at his shop at the traditional bazaar of the city of Kashan, about 152 miles (245 km) south of the capital Tehran, Iran.

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Norwegian Air reschedules aircraft delivery to cut $2.1 billion in 2019/2020

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