Low cost airline Norwegian has registered a loss of 14.9 billion Norwegian kroner for 2020, a year in which the company saw a drastic reduction in passenger numbers and was on the brink of bankruptcy.
Norwegian Air Shuttle, a pioneer in low-cost long-haul flights, said on Thursday it would drop long distance routes and focus on Europe as it tries to restructure and avoid bankruptcy.
Shareholders of struggling low-cost airline Norwegian Air Shuttle on Thursday backed a rescue plan that includes debt conversion, a new share issue and reduction of the fleet.
Embattled low-cost carrier Norwegian Air Shuttle, which recently filed for bankruptcy protection in Ireland, said Tuesday it had launched a similar process in Norway.
Fighting for survival, low-cost Norwegian Air Shuttle filed for bankruptcy protection in Ireland on Wednesday for two of its main subsidiaries in a bid to shield itself from creditors long enough to find a solution for a financial restructuring.
Beleaguered low-cost carrier Norwegian Air Shuttle has only 318 million euros to see it through the winter, its quarterly report showed on Tuesday, a day after Oslo refused to mount another bailout.
Beleaguered low-cost carrier Norwegian Air Shuttle has only 318 million euros to see it through the winter, its quarterly report showed on Tuesday, a day after Oslo refused to mount another bailout.
Norway's government refused Monday to mount another bailout for struggling low-cost carrier Norwegian Air Shuttle which said the "slap in the face" meant its future was uncertain.
Low-cost airline Norwegian Air Shuttle, which was struggling even before the Covid-19 pandemic paralysed the aviation industry, said Friday its losses quadrupled in the first half of 2020.
The shareholders of Norwegian Air Shuttle have voted overwhelmingly for a rescue package that will see them diluted to just 5 percent of the company's equity.
Shares in Norwegian Air Shuttle shot up by 28 percent on Friday after Norway's parliament on Thursday agreed 6bn ( $550m) Norwegian kroner in loan guarantees for the country's airlines.
Low-cost airline Norwegian Air Shuttle said on Tuesday it would cancel “approximately 3,000 flights” from mid-March to mid-June as the coronavirus outbreak hits travel.
Troubled low-cost airline Norwegian Air Shuttle posted another loss in 2019 and announced Thursday it would cut its capacity further in a bid to turn a profit this year.
Low-cost airline Norwegian is stopping all its long-distance flights from Sweden and Denmark due to low profitability. What has forced the company into making the cutbacks?
Norwegian recorded significant losses in the first part of 2017, even though more and more passengers are flying with the low-cost Scandinavian airline.
After three years of battles with both labour unions and its competitors, Norwegian Air Shuttle has received final approval to have its Irish subsidiary operate in the United States.
