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Norwegian enters JV with China Leasing International DAC

Norwegian enters JV with China Leasing International DAC

Low-cost airline operator Norwegian has entered a joint venture (JV) deal with China Leasing International DAC (CCBLI) for the purpose of financing, owning and leasing its new ordered aircraft.

The newly ordered fleets comprise 27 Airbus A320 NEO aircraft, which are scheduled to be delivered between 2020 and 2023.

The agreement is expected to strengthen Norwegian’s financial stability by reducing its committed capital expenditure by $1.5bn based on the initial 27 aircraft.

CCBLI will provide senior debt financing for the aircraft within the JV.