A Norwegian low-cost carrier Norwegian Air Shuttle plans to expand its fleet by leasing 13 Boeing 737 aircraft.
On October 27, 2021, Norwegian Air Shuttle announced that it had signed LOIs [Letters of Intent, ed.-] regarding the lease of up to 13 Boeing 737-800 NG jets. The airline did not identify any leasing companies involved. However, the carrier did reveal in a statement that the terms of the lease will vary from five to eight years, depending on the exact age of the aircraft.
The statement continued: “Norwegian has the right, under some of the leases, to substitute the subject 737-800 NG aircraft for new technology narrow-body aircraft from either Boeing or Airbus. This will enable Norwegian to continue its focus on offering the most environmentally friendly travel options for our customers.”
With it is anticipated that the first delivery will happen in Q4 2021, the carrier expects to receive all 13 jets through Q1 2022. The airline plans to deploy the leased planes on various summer season routes across more than 250 destinations in 2022. The lease terms also cover “power-by-the-hour” (PBH) agreements between Norwegian Air Shuttle and its unspecified partners for the winter season of 2021/22 and 2022/23.
The company added: “[It will give] Norwegian necessary flexibility to manage capacity through the low season as the world emerges from the COVID-19 pandemic.”