All Norwegian articles
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NewsContinued travel restrictions prompt Norwegian to lift capital raise target
Restructuring low-cost carrier Norwegian has increased the range of its planned capital raise in view of the slow opening up of travel markets.
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News
Norwegian reconstruction approved by Oslo court
Norwegian has had its plan for financial reconstruction approved by a court in Oslo, opening the door for the carrier to begin raising fresh capital.
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US opposition builds to Norse Atlantic’s planned transatlantic flights
Top US lawmakers are gearing up to battle a potential application by start-up Norse Atlantic Airways to begin transatlantic flights to the USA.
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Irish High Court approves Norwegian restructuring
Ireland’s High Court has approved Norwegian’s plan for financial reconstruction, leaving Norway to render a decision on the carrier’s proposal.
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New airline plans Norwegian-style transatlantic flights with 787s
A new airline backed by the founder of Norwegian is seeking to launch transatlantic flights with Boeing 787s later this year, as it aims to fill the long-haul low-cost gap left by the latter’s recent withdrawal from Europe-USA market.
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Norwegian files restructuring plan to courts
Low-cost carrier Norwegian has sent its plan for financial restructuring to the Irish and Norwegian courts, as it seeks permission from creditors and shareholders to continue the remodelling of its business and initiate a capital raise.
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Norwegian mass cancellation pushes Airbus into negative net orders
Airbus has newly-recorded cancellations of 92 aircraft, pushing the airframer far into negative net order territory after the first two months of this year. The cancelled aircraft comprise a pair of A350-900s plus 59 A320neo and 30 A321neo jets. Scandinavian budget carrier Norwegian accounted for almost all of ...
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News
Norwegian posts $2.7bn annual loss
Norwegian made a net loss of NKr23 billion ($2.7 billion) in 2020, dramatically deepening one of NKr1.61 billion in 2019, as its long-haul low-cost business model was devastated by the Covid-19 pandemic.
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Norwegian gives update on progress in settling with lessors
Norwegian continues to make progress in settling leases and other contracts with creditors under its Irish restructuring process, but faces opposition from some parties.
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Norwegian proposes haircut for creditors
Norwegian ’s creditors are set to take a significant haircut on their debts under a capital-raising exercise the carrier is planning under its restructuring processes. In a 19 February stock-exchange filing, the Scandinavian low-cost carrier says it intends to issue NKr1.88 billion ($221 million) of perpetual subordinated convertible bonds ...
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Norwegian reaches accommodation with several lessors
Norwegian and its subsidiaries have reached an accommodation with a number of lessors, including Avolon and SMBC Aviation Capital, relating to several aircraft the airline was formerly seeking to reject as part of its Irish restructuring process.
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Lessors raise concerns over Norwegian aircraft returns
Law firms representing Norwegian’s lessors and creditors have raised concerns over the airline’s bid to repudiate 36 aircraft leases under its restructuring process.
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Norwegian flew eight aircraft on average in restriction-hit January
Restructuring low-cost carrier Norwegian operated an average of just eight aircraft in January as a result of services curtailed by travel restrictions.
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Norwegian start-up Flyr plans 1 June launch
Flyr intends to operate its first services at the start of June using Boeing 737 aircraft, as the start-up seeks to become a new low-cost carrier for the Norwegian market.
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Norwegian to refocus on routes with proven profitability
Norwegian plans to focus on core connections that have “historical profitability” as it transitions to becoming a conventional low-cost short-haul operator.
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Stronger Norwegian business plan convinces government to offer support
Norway’s government has signalled that it is prepared to offer financial support to budget carrier Norwegian, to assist with the restructuring airline’s recovery, but has laid out a number of conditions. The government is stressing that it has no intention of becoming an owner of the carrier. Trade ...
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Analysis
What does Norwegian exit mean for long-haul, low-cost adventure?
Norwegian is ditching the long-haul, low-cost model it pioneered over the past decade, but will the carrier’s legacy be a longer lasting impact on the transatlantic market?
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Analysis
Norwegian’s lessors gain some certainty at least
Norwegian ’s intention to exit long-haul services and focus on short-haul and domestic flying as part of its restructuring plan presents its lessors with some certainty for the future at least – if little else. Under its restructuring plan, the Oslo-based carrier will become an entirely short-haul carrier with ...
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News
Norwegian to exit long-haul market
Troubled low-cost carrier Norwegian is abandoning its long-haul network as it sets out a scaled-back business model focused on Norwegian domestic, regional Scandinavian, and key European services. “Our short-haul network has always been the backbone of Norwegian and will form the basis of a future resilient ...
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In depth
How many jobs have Europe’s airlines cut in 2020?
Tens of thousands of jobs have been lost in Europe’s airline sector since the crisis began, as carriers seek to reduce cash burn and ‘right-size’ for the eventual recovery in demand.
