Norwegian Air announced on Monday that it will buy 50 Boeing 737 Max 8 aircraft. The carrier has also secured options for a further 30 of the planes at an undisclosed price.
A deal is expected to be signed by the end of June. The first 50 aircraft will be delivered between 2025 and 2028,
The purchase brings an end to the contract dispute between the two companies. At the height of the dispute, Norwegian had said it would consider switching to Airbus.
The deal includes compensation to Norwegian as settlement for previous disputes over Max and Dreamliner aircraft deliveries and technical issues.
For Norwegian, the deal marks a return to aircraft ownership after it was forced to resort to leasing deals during bankruptcy proceedings last year.
“This is a landmark deal that sets out a path whereby Norwegian will own a large share of its fleet,” Norwegian board Chair Svein Harald Oeygard said. “This will result in lower all-in costs and increased financial robustness, enabling us to further solidify our Nordic stronghold.”
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