Norwegian in 2021

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Re: Norwegian in 2021

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sn26567 wrote: 26 Mar 2021, 18:47 Norwegian’s reconstruction process was approved by the judge in the Irish High Court. “This is a demanding and ongoing process, however, the result of the court rulings enforces our beliefs of a positive final outcome”, said CEO Schram.
Norwegian reconstruction process in Ireland was today approved by the judge in the Irish High Court. Based on this decision, Norwegian will now send the same proposal for voting in Norway. Following this, the company will start the process of raising capital with the goal of a final resolution by the end of May 2021.

https://www.aviation24.be/airlines/norw ... in-norway/
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Re: Norwegian in 2021

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Norwegian has returned to operating at Stockholm Arlanda airport after a five-month hiatus.
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Re: Norwegian in 2021

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Norwegian’s March traffic figures continue to be severely impacted (-94%)
https://www.aviation24.be/airlines/norw ... -impacted/
Hi. I'm Thibault Lapers. @ThibaultLapers & @TLspotting

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Re: Norwegian in 2021

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TLspotting wrote: 10 Apr 2021, 12:44 Norwegian’s March traffic figures continue to be severely impacted (-94%)
https://www.aviation24.be/airlines/norw ... -impacted/
That's a surprise!

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Re: Norwegian in 2021

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Norwegian reconstruction plan in Norway was approved. The carrier will now prepare the process of raising new capital, which is expected to be completed during May 2021. Is anyone interested in investing in the airline?

https://www.aviation24.be/airlines/norw ... -approval/
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Re: Norwegian in 2021

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Norwegian has updated the market on the forthcoming capital raise. The upper limit for raising capital has been increased to US$706 million. The debt will be sharply reduced by between $7.2-7.6 billion and in addition aircraft orders amounting to $10.0 billion have been cancelled.
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Re: Norwegian in 2021

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Re: Norwegian in 2021

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Norwegian plans to ramp-up operations to a peak of around 50 short-haul aircraft in 2021 and around 70 short-haul aircraft in 2022. Norwegian’s long-haul operations will not resume.
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Re: Norwegian in 2021

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sn26567 wrote: 30 Apr 2021, 18:30 Norwegian plans to ramp-up operations to a peak of around 50 short-haul aircraft in 2021 and around 70 short-haul aircraft in 2022. Norwegian’s long-haul operations will not resume.
Norwegian has negotiated and signed agreements for four owned and 44 leased aircraft and intends to operate the fleet on a short-haul network. An additional three aircraft are under documentation to be retained and leased. All 51 aircraft will be operated based on PBH agreements through 1Q 2022.

Norwegian and Arctic Aviation Assets (Ireland) were granted Chapter 15 bankruptcy protection in the US.

Norwegian announces terms of the contemplated capital raise of up to US$722 million. The Company’s cash balance upon completion of the Restructuring Proposal is estimated to be approximately $842 million.
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Re: Norwegian in 2021

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Norwegian announced its intention to initiate a collective dismissal procedure for 1,191 workers from its bases in Spain in the coming days, which would affect 85% of the total crew.
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Re: Norwegian in 2021

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sn26567 wrote: 03 May 2021, 16:02 Norwegian announces terms of the contemplated capital raise of up to US$722 million. The Company’s cash balance upon completion of the Restructuring Proposal is estimated to be approximately $842 million.
Norwegian says its Reconstruction Plan is final and binding as no appeals have been filed. The company is consequently determined to complete the reconstruction process on 26 May 2021.
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Re: Norwegian in 2021

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Norwegian is very close to finalising the simplification of its AOC structure. Within the next couple of months, it will end up with one AOC in Sweden outside of the one in Norway.

Norwegian says it would not need to raise more cash as easing travel restrictions lifted bookings, although the budget carrier which has emerged from bankruptcy proceedings did not provide a 2021 outlook.

Norwegian will park aircraft during winters to avoid losing too much money in the low season.
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Re: Norwegian in 2021

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Norwegian CEO Geir Karlsen expects the B737 MAX to be the aircraft of the future for the carrier.
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Re: Norwegian in 2021

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Norwegian is now considering other Danish domestic routes outside of domestic flights to Aalborg, as the competition is low.
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Re: Norwegian in 2021

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Norwegian is recovering little by little with the new business structure as the subsidiary that hires pilots and cabin crew in Spain has already left the pre-bankruptcy process.
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Re: Norwegian in 2021

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Norwegian has entered into leasing agreements for 13 B737-800s, which will be delivered during winter 2021/22. The aircraft will be leased for five to eight years, with the first two winter seasons on PBH arrangements. Thus, the carrier will have 64 aircraft at its disposal to operate 259 routes in summer 2022.
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Re: Norwegian in 2021

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sn26567 wrote: 28 Oct 2021, 18:13 Norwegian has entered into leasing agreements for 13 B737-800s, which will be delivered during winter 2021/22. The aircraft will be leased for five to eight years, with the first two winter seasons on PBH arrangements. Thus, the carrier will have 64 aircraft at its disposal to operate 259 routes in summer 2022.
Norwegian aims to get up to 70 aircraft by summer 2022, with 80-90 aircraft soon thereafter, pending market demand.
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Re: Norwegian in 2021

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Norwegian has entered into an agreement to lease two B737 MAX 8s for nine years, with delivery soon. The agreement includes PBH (Power By the Hour) arrangements for both the IATA winter seasons 2021/22 and 2022/23, and may be switched for new technology narrowbody aircraft from Airbus.
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Re: Norwegian in 2021

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Norwegian is asking Norway’s government to join the capital of the airline, according to a restructuring plan which is awaiting approval by the Irish Chamber of Commerce. The plan seeks to prevent the already bankrupt company from running out of funds.
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