Norwegian Air Jumps on Boeing, Airbus Plane Orders: Oslo Mover

Norwegian Air Shuttle ASA (NAS) jumped in Oslo after placing an order valued at a list price of 127 billion kroner ($21.5 billion) for 222 airplanes from Boeing Co. (BA) and Airbus SAS.

The shares rose as much as 15 percent in Oslo trading and were up 14 percent at 75 kroner as of 9:02 a.m. local time. The company’s shares are up 35 percent this year.

Norwegian Air agreed to buy 100 Boeing 737 MAX8 planes and 100 Airbus A320neo aircraft, as well as 22 of Boeing’s existing 737-800 model, the Fornebu, Norway-based carrier said today. Deliveries will start in 2016, it said. The airline also took options for 100 737 MAX8s and 50 A320neos.

Boeing decided last year to offer the 737 MAX, a new version of the world’s most widely flown airliner, to compete with Airbus (EAD)’s A320neo aircraft in a global market for narrow- body planes estimated at $2 trillion in the next 20 years. Chicago-based Boeing said today that Norwegian Air Shuttle is the first European customer for the MAX model.

To contact the reporter on this story: Meera Bhatia in Oslo at mbhatia2@bloomberg.net

To contact the editor responsible for this story: Christian Wienberg at cwienberg@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.