Norwegian places a massive aircraft order

Norwegian Air Shuttle ASA (OSE: NAS) is making the biggest single order of new planes in European aviation history. The low-cost airliner is ordering a total of 372 aircraft from Boeing and Airbus. Out of these, 222 planes are on a firm order, which includes 22 Boeing 737-800, 100 Boeing 737 MAX8 and 100 Airbus A320neo planes. The additional 150 purchase rights are for 100 Boeing 737 MAX8 and 50 Airbus A320neo The firm orders have an aggregate price of about 127 billion NOK.

Norwegian says that it was able to benefit from having two manufacturers to bid with. The order is designed to consolidate Norwegian’s position as one of the most competitive and cost efficient airlines in Europe. The deliveries will start from 2016. Norwegian is up by 8% where as rivals such as SAS (OSE: SAS, OMX: SAS) are down a notch.