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Norske tog AS signs letter of intent to purchase six train sets from Flytoget AS

Norske tog AS and Flytoget AS have signed a letter of intent for Norske tog to acquire six of Flytoget’s train sets. The agreed price is NOK 181 million. The agreement will provide for better overall utilisation of the rolling stock belonging to the two state-owned companies.

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-For Norske tog, this gives us access to six type 71 trains, which are technically similar to our type 73 trains. Norske tog plans to recover spare parts from the first train set to assure the supply of critical components to the train operators that lease trains from Norske tog. The first train set will be taken over by Norske tog around new year, while the remaining five Flytoget trains will be taken over during 2021. These five train sets will allow us to replace old type 70 trains, says Øystein Risan, CEO of Norske tog.

-This is a good solution for Flytoget. Flytoget is now phasing in the new generation of airport shuttle trains supplied by CAF and will have all eight new train sets in service by 2021. We can then free up six train sets in the coming years, to be used for other rail services. The agreement includes an option whereby Flytoget can buy the trains back after 2026, giving us the flexibility to increase our stocks when the market picks up after the Covid-19 situation, says Philipp Engedal, CEO of Flytoget.

Norske tog regards the 20-year-old Flytog trains as a significantly better option for the train operators compared to the type 70. The Flytog trains are comfortable and reliable, have a higher top speed, longer residual service life and lower maintenance costs. Norske tog expects the trains to run for another ten years. All type 70 trains are scheduled to be phased out by 2024. Overall, the acquisition of the Flytog train sets provides great savings for Norske tog, as opposed to the option of a major upgrade to the type 70 trains.

-This is a good deal for both parties. It also allows the State to make effective use of the spare capacity of rolling stock that it owns through the Ministry of Transport and Industry, says Risan.

The agreement is subject to final approval from the boards of the two companies. Norske tog will apply for residual value cover for the purchase of Flytog trains in the State budget for 2022.

For more information, please contact:

Øystein Risan
CEO, Norske tog AS
+47 916 51 134