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Your Christmas Flight on Norwegian Might Be Safe

  • Fleet venture would reimburse earlier payments, people say
  • Discount airline would get first rights to new aircraft

Norwegian Air Shuttle ASA is closing in on a deal that would provide a potential $1 billion infusion of cash to help it navigate increasing fuel prices and the slow winter period, according to people familiar with the matter.

The Oslo-based carrier said Thursday that it is in “advanced discussions” with an unnamed partner to create a fleet joint venture that would take over cash obligations on its large aircraft order book. Norwegian didn’t identify a potential partner or specify how much the deal would be worth.