Norwegian Group intends to purchase ten of the B737-800s it currently leases in March to reduce costs.

Chief executive Geir Karlsen said that transaction terms are "attractive" for Norwegian and that the acquisition is part of the company's long-term fleet strategy. "This move is expected to deliver both short- and long-term cost savings, as well as provide additional flexibility for future fleet planning,” he added.

The group said in a statement that it will initially fund the transaction with its cash reserves and expects to close the deal by the end of the first quarter of 2025. It elaborated that it expects to record a non-recurring gain of approximately NOK570 million kroner (USD50.8 million) after it completes the transaction due to the reduction of lease liabilities and the negotiated purchase price. It will save around NOK200 million (USD17.8 million) per year in lease expenses.

According to the ch-aviation fleets module, Norwegian Air Shuttle AOC currently operates 45 aircraft - thirty-nine B737-800s and six B737-8s - while sister carrier Norwegian Air Sweden AOC operates a further twenty-five B737-800s and nineteen B737-8s. The group leases all of its aircraft except for five B737-800s (of which one is leased out to Transavia France). Its largest lessors are AerCap (16 aircraft in total) and Vmo Aircraft Leasing (ten).