Norwegian Air has ordered 50 Boeing 737 MAX passenger planes and secured the option to purchase a further 30 aircraft, the airline said on Monday.
The final contract was scheduled to be signed by the end of June.
The 737 MAX aircraft were to be delivered between 2025 and 2028.
During this period, Norwegian’s existing aircraft leasing deals would expire.
“This is a landmark deal that sets out a path whereby Norwegian will own a large share of its fleet.
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“This will result in lower all-in costs and increased financial robustness, enabling us to further solidify our Nordic stronghold,’’ board chairperson Svein Harald Øygard said in a statement.
Norwegian airline had long been fighting the acute threat of insolvency because of high debts and other problems that followed in the wake of the coronavirus crisis.
Following a restructuring, the low-cost airline was now focusing on routes within Europe, primarily in Scandinavia, rather than long-haul flights to destinations like the United States.
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