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Low-cost airline Norwegian announced Tuesday that it reached a deal to acquire three Boeing (NYSE:BA) 737-800 aircraft currently leased to its fleet. The transaction is expected to close in the third quarter and will be initially financed using the company’s existing cash reserves, with long-term funding options under consideration.
Norwegian said the purchase will result in a one-time gain of approximately 260 million Norwegian crowns ($25.71 million). This follows a similar move in March, when the airline agreed to buy 10 other leased Boeing (NYSE:BA) 737-800 jets.