Norwegian initiates reorganisation process in Norway
Norwegian has today filed for a reconstruction under Norwegian law. This process will coexist with the Irish Examinership process.
Topics: Transport
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COVID-19 continues to impact Norwegian’s traffic figures
Norwegian’s traffic figures for November are heavily influenced by lower demand caused by continued travel restrictions across Europe. Christmas bookings look promising.
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Norwegian initiates a reorganisation plan with its daughter companies Norwegian Air International and Arctic Aviation Assets seeking protection under Irish Examinership
Norwegian Air Shuttle ASA (“Norwegian”) has decided to initiate an examinership process in Ireland relating to its subsidiary Norwegian Air International Limited (NAI), its wholly-owned asset company Arctic Aviation Assets DAC (AAA) and some of AAA’s subsidiaries; Norwegian will also enter in and get protection of the Irish Examinership process as a related party.
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Norwegian forced to furlough an additional 1,600 employees following the government’s decision not to give further support
Norwegian forced to furlough employees and reduce capacity considerably following the government’s decision to not support the company financially to get through the corona crisis while simultaneously imposing travel restrictions that actively discourage passengers from travelling. Norwegian needs to keep its running costs to a minimum, while the company continues to work on solutions to survive.
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Norwegian is very disappointed about lack of government support
The government of Norway today announced that Norwegian will not receive further financial support, which Norwegian had clearly communicated was necessary to maintain operations throughout the Covid-19 crisis. The company is now facing a very uncertain future, but we will do everything in our power to get through this crisis and to continue doing what Norwegian has been doing for almost 20 years
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COVID-19 continues to heavily impact Norwegian’s traffic figures
Norwegian’s traffic figures for October are heavily influenced by lower demand caused by continued travel restrictions across Europe, with several new red zones.
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Norwegian is voted Europe’s Leading Low- Cost Airline 2020 for 6th consecutive year
Norwegian has been named Europe’s Leading Low-Cost Airline 2020 for the sixth consecutive year at the 27th annual World Travel Awards, one of the travel industry's most prestigious awards.
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COVID-19 heavily impacts Norwegian’s September traffic figures
Norwegian’s traffic figures for September are heavily influenced by lower demand caused by new and stricter travel restrictions across Europe.
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Norwegian commits to reduce CO2 emissions by 45 percent by 2030
Today Norwegian has launched a new environmental sustainability strategy that will begin immediately and deliver several industry leading targets. Cutting CO2 emissions by 45 percent, remove all non-recyclable plastics and recycle all single-use plastics are key commitments in the new strategy. The goal is in line with the 1.5°C target set forth in the Paris Agreement.
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Norwegian August 2020 traffic figures heavily influenced by travel restrictions and drop in demand
Norwegian’s traffic figures for August are heavily influenced by the COVID-19 outbreak and the subsequent travel restrictions and drop in demand. In August, capacity was 94% lower than last year, while the flights that were operated had a load factor of 62.1%.
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Norwegian strongly affected by COVID-19 – 71 percent passenger decline, 8,000 furloughed or laid off employees and 140 grounded aircraft
Norwegian today reported its results for the first half year of 2020. The figures are as expected heavily impacted by the COVID-19 pandemic with a net loss of NOK 5.3 billion. During the first half of 2020, 5.31 million customers travelled with the company; a decrease of 71 percent compared to the same period last year.
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Invitation to presentation of Norwegian's Second quarter report
Norwegian has scheduled a presentation of the interim report for the second quarter and first half year 2020 on Friday 28 August and invite to a presentation and live stream at 08:30 CET.
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Tor-Arne Fosser joins Norwegian as new Executive Vice President of the Airline Ecosystem department
Tor-Arne Fosser will join Norwegian as Executive Vice President (EVP) Airline Ecosystem from October 1, 2020. He is currently the Chief Marketing Officer for Telenor Denmark.
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Norwegian to Restart Short Haul Flights from the UK and Serve a Wider European Network from July
Norwegian is pleased to announce that in line with other European carriers and as a result of increased customer demand the airline will begin to operate flights between London Gatwick to Oslo, London Gatwick to Copenhagen, Edinburgh to Oslo and Edinburgh to Copenhagen from July 1st.
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New management structure in Norwegian
CEO Jacob Schram today announces the new management structure in Norwegian. The biggest changes involve two distinct commercial units in the Group, greater employee and customer focus, more efficient operation and, not least, an organization that facilitates broad cooperation across the business.
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Norwegian finalises recapitalisation and secures state aid
Norwegian confirms that the restructuring is completed and that the state loan guarantee of in total NOK 3 billion has been approved. The company has now converted NOK 12.7 billion of debt to equity and laid a solid foundation for the future, although the next months will remain challenging.
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Norwegian’s pilot and cabin crew companies in Sweden and Denmark file for bankruptcy
The pilots and cabin crew in Scandinavia are employed in subsidiaries in the Norwegian Group. Unfortunately, despite the measures that the company has already taken to reduce costs, the Board of these companies are left with no choice but to apply for bankruptcy.
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Norwegian crew support well-being of frontline UK hospital staff during COVID-19 outbreak
Airline Crew from across the industry have come together to form Project Wingman to support the well-being of frontline NHS staff during the COVID-19 outbreak.
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Norwegian Air Shuttle ASA (NAS) - Notice of extraordinary general meeting
Norwegian Air Shuttle ASA (NAS) – Norwegian aims to strengthen its balance sheet by converting debt to equity to meet the requirements of the Norwegian state guarantee program and create a sustainable platform taking into account current shareholders and creditors alike.
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Norwegian March traffic figures heavily influenced by COVID-19 measures
The global outbreak of COVID-19 that took hold across the aviation industry throughout March has heavily influenced Norwegian´s traffic figures. The company experienced a dramatic drop in demand following government-imposed travel restrictions and a general travel decline.
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