Norwegian in 2021

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sn26567
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Re: Norwegian in 2021

Post by sn26567 »

Norwegian has been moving aircraft from its Scandinavian bases to Shannon as the carrier begins cutting its fleet of 140 aircraft ahead of restructuring. The aircraft are mainly B787s. The bankruptcy case is due back before the Irish High Court on 22 January 2021.
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Re: Norwegian in 2021

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Norwegian must pay all refund claims from customers within one week, per an order from the Norwegian CAA.
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Re: Norwegian in 2021

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Norwegian shuts down long-haul network; axes 1,100 London Gatwick based crew; focuses on short-haul :

https://www.aviation24.be/airlines/norw ... ased-crew/
Hi. I'm Thibault Lapers. @ThibaultLapers & @TLspotting

crew1990
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Re: Norwegian in 2021

Post by crew1990 »

I wonder if they will keep the order for A321LR, it make no-sense now

sn dl tc crew
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Re: Norwegian in 2021

Post by sn dl tc crew »

Just another proof that a low cost long haul doesn't work..Level also stopped all long haul flights from paris.. Norwegian long haul stop was predictable due to acute capital need
A plane is a plane..the huge capital cost of operating aircrafts, even with their very dense configurations, is not enough to provide sustainable revenue to operate these at bottom market prices
Even Corsair with max operating pax over 300 on a a330 cannot break even..

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Re: Norwegian in 2021

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Norwegian is not cutting enough debt, according to analysts at HSBC and Bernstein, despite the company announcing it will reduce the debt to US$2.3 billion.
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Re: Norwegian in 2021

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Norwegian and its three subsidiaries were granted by an Irish High Court an extension of its period of protection from creditors to the maximum of 100 days. The next hearing is now set for 25 February 2021.
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Re: Norwegian in 2021

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Norwegian is seeking to hand back 36 aircraft to lessors in its bid to rescue the airline. The aircraft held by the Irish-registered companies.
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Re: Norwegian in 2021

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KPMG has been appointed to handle the liquidation process of Norwegian Air Resources UK, thus allowing 1,100 employees of the carrier to apply for state-funded redundancy payoffs.
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Re: Norwegian in 2021

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sn26567 wrote: 01 Feb 2021, 18:27 KPMG has been appointed to handle the liquidation process of Norwegian Air Resources UK, thus allowing 1,100 employees of the carrier to apply for state-funded redundancy payoffs.
Norwegian Air Resources (Ireland) is moving towards liquidation, as the long-haul cabin crew employer is no longer able to meet its financial obligations.
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Re: Norwegian in 2021

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sn26567 wrote: 01 Feb 2021, 18:27 KPMG has been appointed to handle the liquidation process of Norwegian Air Resources UK, thus allowing 1,100 employees of the carrier to apply for state-funded redundancy payoffs.
Redundancy pay in the UK is peanuts.
0 if you worked less than 2 years for the company, 1 week per year of service otherwise.
https://www.gov.uk/redundancy-your-righ ... ndancy-pay

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Re: Norwegian in 2021

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ORIX Aviation Systems has been appointed as the exclusive remarketing agent in respect of a package of 14 aircraft, consisting of 12 B737 MAX 8 with LEAP 1B engines and two B787-9 with Trent 1000 engines, on behalf of the secured financiers of the aircraft. All 14 aircraft are currently leased to Norwegian.
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Re: Norwegian in 2021

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Norwegian has included subsidiaries Norwegian Pilot Services Norway and Norwegian Cabin Services Norway in the reorganisation negotiations.

In other news, Norwegian plans to cancel more aircraft on order with Airbus and Boeing as part of the restructuring proceedings.
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Re: Norwegian in 2021

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sn26567 wrote: 24 Feb 2021, 16:44 In other news, Norwegian plans to cancel more aircraft on order with Airbus and Boeing as part of the restructuring proceedings.
More than plans. The Airbus order is gone.

https://finance.yahoo.com/news/norwegia ... 07984.html

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Re: Norwegian in 2021

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Norwegian confirms it will not operate the B737 MAX, and will be left with a pure B737NG fleet of 53 aircraft, provided that the company survives bankruptcy protection.
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Re: Norwegian in 2021

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Norwegian has withdrawn requests to repudiate a total of 36 aircraft leases after reaching agreement with the lessors in question as part of a restructuring process.
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Re: Norwegian in 2021

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Norwegian expects its dispute with Boeing over the cancellation of orders for 97 aircraft to be decided in US legal proceedings and not as part of an Irish restructuring process.

Norwegian has received approval from an Irish judge to terminate the lease contracts for 25 remaining aircraft with four creditors. The airline can now present a full rescue plan on 08 March 2021. The creditors are Bank of Utah (US) with eight B737s; Citibank (US) with six B737s; Credit Agricole CIB (France) with nine B737s, and PK AirFinance (Luxembourg) with two B737s.
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Re: Norwegian in 2021

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Norwegian filed for Chapter 15 bankruptcy protection in New York, which will protect its US assets from litigation while restructuring in another country.
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Re: Norwegian in 2021

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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.
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