OSLO (Reuters) – A Norwegian Air subsidiary has agreed with Airbus to postpone plane deliveries scheduled for this year and next, cutting its capital spending by $570 million, the loss-making budget carrier said on Wednesday.
FILE PHOTO: The Airbus logo is pictured at Airbus headquarters in Blagnac near Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau/File Photo
It is the second time in two months that the airline has postponed aircraft deliveries.
The Oslo-listed airline has shaken up long-haul rivals by offering cut-price transatlantic fares, but its rapid expansion has left it with hefty losses and high debts, leading it to shift recently to focus on bolstering its finances.
The latest postponement covers an order by Norwegian Air’s Dublin-based aircraft leasing company Arctic Aviation Assets DAC for