All Norwegian articles – Page 6
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NewsFour of Norwegian’s crew subsidiaries file for bankruptcy
Scandinavian budget carrier Norwegian has confirmed that four subsidiaries which employ more than 4,000 pilots and cabin crew members in Denmark and Sweden have filed for bankruptcy.
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News
Norwegian share price plummets on debt conversion plan
Scandinavian budget carrier Norwegian saw its share price nosedive when markets opened on 14 April, following its 8 April proposal to convert debt to equity in order to qualify for state aid. Shortly after the Oslo stock exchange reopened following the long Easter weekend, Norwegian ’s share price ...
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News
Norwegian shareholders to vote on crucial debt-to-equity scheme
Scandinavian budget carrier Norwegian has called a shareholders’ meeting for 4 May to discuss plans to convert debt to equity, in order to meet criteria for the Norwegian government’s state guarantee scheme. The airline is trying to secure NKr3 billion in funding but, while it has met the requirements ...
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News
Norwegian receives first financing under sector’s rescue package
Low-cost carrier Norwegian has obtained the first 10% of the funding that Norway’s government is guaranteeing for it under a rescue plan for the national airline industry. On 19 March, Norway announced an NKr6 billion ($542 million) bailout for the sector, of which half would go to Norwegian ...
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News
Norwegian offered largest share of airline state guarantee package
Norway’s government is providing a conditional state loan guarantee for its aviation industry amounting to NKr6 billion ($533 million), and is securing a minimum level of flight operations in the country. Half of the funding, NKr3 billion, will be directed at embattled budget operator Norwegian, with another NKr1.5 billion ...
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News
Norwegian to cancel 85% of flights and temporarily lay-off 90% of staff
Nor wegian is suspending a big majority of its services and laying off 7,300 employees as it seeks to weather the coronavirus outbreak. “The Covid-19 situation is escalating by the hour and due to stagnating demand and enforced travel restrictions by authorities worldwide, Norwegian will gradually cancel ...
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News
Norwegian seeks to funnel US passengers through London
Scandinavian budget carrier Norwegian is attempting to adapt to the transatlantic travel ban by routing customers through its UK base at London Gatwick. But it is unclear how effective this strategy will be given the extent of the US government’s restrictions. Norwegian says its aim is to re-route ...
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News
Norwegian to cut 4,000 flights and 50% of staff
Norwegian is grounding 40% of its long-haul fleet and cancelling some 25% of its short-haul services in response to the coronavirus outbreak and the US ban on European travellers.
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News
Norwegian cuts jobs and capacity amid ‘critical time’
Norwegian has disclosed plans to cut 3,000 flights between mid-March and mid-June, and is calling for action from authorities to “reduce the financial burden” on the airline sector.
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News
Norwegian slashes transatlantic capacity as coronavirus hits demand
Norwegian is cutting 22 long-haul flights between Europe and the USA between 28 March and 5 May, as passenger numbers dive as a result of the coronavirus outbreak.
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News
Norwegian yet to find profitable long-haul model: chief
Norwegian’s new chief executive Jacob Schram has acknowledged that the Scandinavian budget carrier has yet to find a way of making its long-haul operation profitable.
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Analysis
Norwegian counts costs of 737 Max and Trent 1000 disruptions
Norwegian estimates that disruption from the Boeing 737 Max grounding and ongoing issues with the Rolls-Royce Trent engines on its 787 fleet have led to a combined NKr1.7 billion ($183 million) net loss for 2019.
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News
Norwegian plans deeper capacity cuts in bid for 2020 profit return
Restructuring low-cost carrier Norwegian is targeting a net profit for the coming year on deeper capacity cuts after progress on its turnaround in 2019 was clipped by the impact of the Boeing 737 Max grounding and Rolls-Royce engine issues.
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News
Norwegian eyes Max compensation deal by year-end
Norwegian is hopeful it can reach an agreement with Boeing on compensation for its grounded 737 Max fleet by the end of the year.
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News
Norwegian sells Argentinian unit to JetSmart
Norwegian has sold its Argentinian subsidiary to Chilean low-cost carrier JetSmart for an undisclosed amount, as the Scandinavian group looks to cut costs and focus on core operations.
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News
Norwegian granted London Heathrow slots
Scandinavian budget carrier Norwegian has provisionally been allocated slots at London Heathrow for the summer 2020 season.
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News
Norwegian axing long-haul services from two Nordic capitals
Scandinavian budget carrier Norwegian is axing several transatlantic and Asian routes as a consequence of low demand and continuing problems with Rolls-Royce Trent engines on its Boeing 787s.
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News
Norwegian names new chief as restructuring efforts continue
Restructuring low-cost carrier Norwegian has named former Circle K group president Europe and McKinsey advisor Jacob Schram as its new chief executive.
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News
Norwegian stock price drops after new fundraising round
Scandinavian budget carrier Norwegian's share price has dropped by around 10% after the airline revealed it was seeking additional funding from investors, through a convertible bond issue and a release of new shares.
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News
Trent blade limit ‘insufficient’ before Norwegian 787 failure
Italian investigators have disclosed that there was no engine de-pairing requirement in place for the Rolls-Royce Trent 1000s fitted to a Norwegian Boeing 787 before one of its powerplants failed after take-off from Rome. The engines were subject to a modification – under a service bulletin designated 72-H818 – which ...
