All Norwegian articles – Page 3

  • Ryanair-Wizz-c-Shutterstock
    Analysis

    Will Europe’s low-cost airlines lead the region out of the crisis?

    2020-12-14T13:48:00Z

    The possibility that vaccines might begin to have a genuine impact on controlling the pandemic in Europe by the end of the first quarter of 2021 has changed the narrative.

  • Norwegian Boeing 737 Max at Edinburgh
    News

    Norwegian files for formal restructuring in Norway

    2020-12-08T08:58:00Z

    Cash-strapped low-cost carrier Norwegian has filed for financial restructuring under Norwegian law in parallel to a similar process already under way in Ireland. Norwegian initiated a formal financial restructuring for its Norwegian Air International subsidiary and aircraft leasing unit Arctic Aviation Assets, under an Irish examinership process, on ...

  • Norwegian parked title-c-Norwegian
    News

    Norwegian tests debt-for-equity appetite again in bid for funding

    2020-12-04T18:06:00Z

    Scandinavian budget airline Norwegian is again proposing a debt-for-equity conversion as part of an effort to raise funding, just six months after persuading creditors to sign up to a similar scheme. Norwegian says it will request “significant equitisation” of debt at market price, and seek approval for a NKr4 ...

  • Rickard Gustafson-c-SAS
    News

    SAS not counting Norwegian out as rival plans $450m share issue

    2020-12-03T12:03:00Z

    Scandinavian operator SAS believes that it will face a fiercely competitive situation in the region during crisis recovery, irrespective of the survival – or otherwise – of budget rival Norwegian. Norwegian disclosed plans on 3 December to pursue a new share issue intended to raise gross proceeds of up ...

  • Oslo airport
    News

    Norway extends repayment term for airline state-guarantee scheme

    2020-11-24T11:29:00Z

    Norway has further extended the terms of a state-backed loan guarantee scheme it has granted its carriers. While Norway’s government earlier this month rejected Norwegian’s request for more state aid – a move the struggling carrier cited as a factor when two of its Irish units filed for financial ...

  • Norwegian 737-800 at Gatwick
    News

    Norwegian seeks financial protection as units file for Irish restructuring

    2020-11-18T16:59:00Z

    Norwegian has initiated a formal financial restructuring for its Norwegian Air International subsidiary and aircraft leasing unit Arctic Aviation Assets under an Irish examinership process. The cash-strapped low-cost carrier says the purpose of the process is to reduce debt, rightsize the fleet and secure new capital. In initiating an ...

  • norwegian 787 @ Gatwick
    News

    Norwegian flags ‘significant’ bankruptcy risk amid heavy losses

    2020-11-10T12:08:00Z

    Scandinavian budget carrier Norwegian has today warned that it faces a “significant risk” of insolvency, as it revealed a third-quarter net loss of NKr980 million ($108 million). Still reeling from the Norwegian government’s 9 November announcement that it would not provide any more financial support to ...

  • Norwegian 737-800 c Shutterstock
    News

    Norwegian blames lack of government support for drastic cutbacks

    2020-11-09T18:02:00Z

    Norwegian is to furlough an additional 1,600 staff and park 15 of its 21 operational aircraft, blaming a lack of additional government support and the added burden of new travel restrictions for the cutbacks.

  • Norwegian Boeing 737 Max at Edinburgh
    News

    Norwegian warns of ‘uncertain future’ after government rejects support request

    2020-11-09T09:33:00Z

    Norwegian is facing “a very uncertain future” after Norway rejected requests from the airline for further financial support. Oslo notes that in respone to the coronavirus crisis the state’s extraordinary contribution to aviation in Norway so far in 2020 amounts to NKr13 billion ($1.4 billion). Source: ...

  • Norwegian Boeing 787
    News

    Norwegian debt-equity swap follows 90% fall in October traffic

    2020-11-05T14:38:00Z

    Scandinavian low-cost carrier Norwegian has converted another €1.7 million ($2 million) of debt into equity after perpetual bondholders agreed to swap loans for shares. The bonds are being converted into nearly 4.6 million new, freely tradeable shares in the company, states Norwegian in a 5 November notice ...

  • Norwegian 737-800 at Gatwick
    News

    Norwegian converts more debt into equity

    2020-10-26T17:35:00Z

    Scandinavian budget carrier Norwegian has converted another SKr231 million ($26 million) of debt into equity by issuing 56.3 million new shares.

  • norwegian 787 @ Gatwick
    News

    Norwegian opens consultation over Gatwick job cuts

    2020-10-09T18:09:00Z

    Scandinavian low-cost carrier Norwegian has opened a formal consultation over staff cuts at its London Gatwick base as the sustained impact of the global pandemic on air travel continues. The consultation relates primarily to short-haul pilots and cabin crew at Norwegian’s Gatwick base and potentially covers 259 roles. The ...

  • EasyJet-Ryanair-c-Shutterstock
    Analysis

    No one-size-fits-all for European LCC approach to crisis capacity

    2020-10-08T16:08:00Z

    If the narrative among pan-European low-cost carriers over recent years has been one of consistent rapid growth, the approach to restoring capacity of the leading players since the pandemic has been anything but uniform. Analysis of traffic data released by EasyJet, Norwegian, Ryanair and Wizz Air over recent days ...

  • Erik-Braathen
    News

    Braathen to launch new Norwegian airline

    2020-10-06T16:14:00Z

    A team led by experienced industry executive Erik Braathen is planning to launch an airline in Norway that reflects “the new economic reality”.

  • Norwegian Boeing 737 Max at Edinburgh
    News

    Norwegian September passenger numbers at just 10% of 2019 levels

    2020-10-06T08:26:00Z

    Norwegian carried just 320,000 passengers in September, less than 10% of the number it flew in the same month last year as the airline remains in hibernation mode. The low-cost carrier had flown 3.3 million passengers in September 2019. The reduction is even starker as measured in RPKs, ...

  • Norwegian Boeing 737 Max at Edinburgh
    News

    Norway extends airline loan guarantee scheme until year-end

    2020-09-21T08:21:00Z

    Norway is to set extend its aviation loan guarantee scheme until the end of the year in a move it hopes will make it more attractive to airlines.

  • EasyJet-Ryanair-c-Shutterstock
    Analysis

    Winter of disconnect ahead for Europe’s airlines

    2020-09-09T15:07:00Z

    There are few crumbs of comfort for European airlines as they look back on a worse-than-expected summer season and forward to what could be a bleak winter.

  • Norwegian Boeing 787
    News

    Norwegian keeps faith in slimmed down long-haul model

    2020-08-28T11:53:00Z

    Restructuring low-cost carrier Norwegian aims to stick with a scaled-back version of its long-haul business when it moves out of the hibernation phase it has been in since the coronavirus crisis hit. While the airline continues to work on financial restructuring to secure its future – and today confirmed ...

  • Norwegian 737-800 at Gatwick
    News

    Norwegian warns more cash needed to survive crisis

    2020-08-28T08:25:00Z

    Restructuring low-cost carrier Norwegian has warned it will require further financing next year to survive the winter as coronavirus-related travel restrictions continue to hamper the recovery in air travel

  • Norwegian
    News

    Swedish debt office denies credit guarantee to Norwegian's local operation

    2020-08-18T07:38:00Z

    Scandinavian budget carrier Norwegian’s Swedish division has been denied a credit guarantee by the Swedish national debt office. The office states that it has “decided to reject” the application because guarantees can only be granted to airlines considered financially viable on 31 December 2019. It says there was ...