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26 Feb, 2021 16:07

Norwegian Air cancels remaining 88 jets in Airbus order

ep imagen de una avion de norwegian
NorwegianNORWEGIAN - Archivo

Norwegian Air cancelled all the 88 narrow-body jets that remained on order from Airbus, a spokesman for the company said on Friday.

The agreement between Norwegian and European manufacturer Airbus was reached on Wednesday in an Irish Court.

Airbus will keep the payments it received in advance and Norwegian will pay $847,800 as compensation.

The airline took an impairment charge of 4.8bn crowns ($93.51m) in the fourth quarter relating to the termination of aircraft purchase contracts with Airbus and Boeing.

Norwegian filed for asset protection in 2020 as part of the bankruptcy process in both Norway and Ireland, where most of its assets are registered, and aims to continue operations with fewer aircrafts.

Norwegian Air and Airbus agreed on terms to cancel aircraft orders that were still pending delivery, but the legal situation with Boeing remains unresolved.


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.