Norwegian Air Shuttle, a low-cost carrier based in Norway, proposes to lease 13 Boeing 737 aircraft to increase its fleet.
Norwegian Air Shuttle said on October 27, 2021, that it has signed LOIs [Letters of Intent, ed.-] for the lease of up to 13 Boeing 737-800 NG jets.
The airline did not name any of the leasing companies that were involved. The carrier did, however, explain in a statement that the lease terms will range from five to eight years, depending on the aircraft’s specific age.
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.”
The first of the 13 jets is expected to arrive in Q4 2021, and the airline intends to acquire all 13 by Q1 2022. In 2022, the airline aims to use the leased planes on a variety of summer season trips to around 250 destinations.
For the winter seasons of 2021/22 and 2022/23, the lease conditions also encompass “power-by-the-hour” (PBH) agreements between Norwegian Air Shuttle and its unnamed partners.
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.”