Norwegian expects to cut spending by $570 million over two years by agreeing to delay the delivery of Airbus aircraft.
The postponement of part of the low-cost carrier’s aircraft orders alongside fleet disposals was seen as a key element of a January bid to focus on profits rather than further growth.
The carrier confirmed that subsidiary Arctic Aviation Assets had reached an agreement with Airbus for the rescheduling of part of the order book, including both A320neos and A321LRs.
The rescheduling is a result of a dialogue between the company and Airbus the past months, Norwegian said.
“The postponement is expected to reduce the company’s capital expenditure commitments by approximately $570 million in total for 2019 and 2020,” the carrier added.
“The postponements are in line with the company’s strategy of capitalising on the scale built up over the last few years and the changed focus from growth to profitability.”
Norwegian is the third largest carrier operating from Gatwick and has a fleet of more than 150 aircraft.
More: Special Report: Norwegian rejects cash crisis claim
Norwegian Air reports second successive year of deep losses
