(Mallorca:) on Friday it became known that Norwegian Air Shuttle has entered into an agreement for the sale of five Airbus 320 neo aircraft.
the Planes, which currently is leased out for HK Express, comes in the range of several sales earlier in the year.
In the course of a short time, the English sold 13 aircraft and received over one billion dollars after having paid down the debt.
in Isolation, the sales of the last planes to have a solely positive effect for the book value, ” says analyst Kenneth Sivertsen in Pareto Securities to Mallorca.
According to the English will the sale of the five aircraft, which shall be handed over in the current quarter, improving the company’s liquidity position with 62 million dollars, the equivalent of around 515 million.
Debt to be cut by 1.5 billion.
the Money from the sale will be used to pay off debt and increase liquidity. Sivertsen says that flysalget leads to that the company’s debt will be reduced by 1.5 billion to 31.5 billion.
Axel Jacobsen, an analyst at Arctic Securities, shares the excitement around the sale of the aircraft.
– We see it as positive that the Norwegian seller fly then it will increase liquidity and reduce debt. The company has said that it will grow with the market on short-range, and look at the order book of the company has been on the cards that it will be announced flysalg. This is also in line with the company’s strategy to phase out older Boeing 737s, ” he says.
Believe Norwegian can get it tough to winter
Although the company now sells away from the aircraft, is Pareto Securities concerned for the historically difficult winter season.
English is among the airlines in Europe with the lowest proportion of hedging of fuel. By a higher oil price will give significant marginpress and turn out on the bottom line, ” explains Sivertsen.
Necessity
– A virtue of a necessity, ” says manager Jan Petter Sissener to the Obi.en in connection with the sale. He seems, however, it is strange that the English do not say anything about a possible profit on the sale.