Norwegian Air, CCB to own Airbus fleet

Norwegian Air, CCB to own Airbus fleet

Representative image. (Reuters photo)

Norwegian Air has struck a deal with China's CCB Leasing to take joint ownership of a large fleet of aircraft that the budget carrier has ordered from Airbus, Oslo-listed Norwegian said on Thursday.

CCB Leasing Corporation DAC (CCBLI), a wholly owned subsidiary of China Construction Bank Corp, will own 70% of the joint venture, while Norwegian Air's Arctic Aviation unit will own the remaining 30%.

"Under the terms of the agreement, the joint venture will purchase from Arctic an initial 27 Airbus A320 NEO aircraft to be delivered from 2020 to 2023," Norwegian said.