newstodate.aero

Oct 28, 2019 (newstodate): Norwegian has entered a JV with a Chinese partner CCB Financial Leasing, a fully-owned subsidiary of China Construction Bank registered in Beijing.
   The Norwegian stake in the JV is taken by the Norwegian Group's Arctic Aviation Assets that will hold 30 percent, with the remaining 70 percent held by the Chinese partner.
   Under the JV, Norwegian will place 27 Airbus A320neo aircraft with the new entity, harvesting the positive difference between their procurement price and the value of the transaction with the JV, financed by China Construction Bank.
   Lifting the aircraft acquisition off Norwegian's balance sheet will contribute to supporting the carrier's strained financial situation under its new acting CEO Geir Karlsen and new chairman of the Board Niels Smedegaard.
   In 2012, Norwegian placed orders for 100 Airbus A320neo aircraft, with options for another 50.