Deals

Norwegian Could Sell Leasing Unit, Jets to Meet Cash Needs

Leasing unit won’t be sold before 2019 as it awaits more Neos
CFO dismisses speculation about looming liquidity crunch

Norwegian Air Shuttle ready for departure at London Gatwick Airport in Crawley, U.K.
Photographer: Simon Dawson/Bloomberg

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By Benjamin D Katz and Richard Weiss

September 7, 2017 at 9:53 AM UTC

Updated on

September 7, 2017 at 10:51 AM UTC

This article is for subscribers only.

Norwegian Air Shuttle ASA said it has the flexibility to raise cash through the disposal of its leasing unit and additional sales of its Boeing Co. and Airbus SE aircraft, pushing back on suggestions from Ryanair Holdings Plc Chief Executive Officer Michael O’Leary that the company could face a financial crunch.

While the ambitious Oslo-based carrier has received interest from bidders for its plane-leasing unit, there’s no immediate plans for a deal, Chief Financial Officer Tore Ostby said Thursday in an interview. The company is unlikely to seriously consider a sale before 2019 or 2020, after it receives the bulk of the 100 A320neo jets it has on order.