Its beginning to sound like AirEurope, that went bust in 1991. I remember this event well. From wikipedia "Air Europe's success came to an end – the cost of borrowing rose (to the detriment of highly debt-leveraged companies) and financial problems beset its parent company"
OMG, this is so similar to Norwegian's predicament. The cost of borrowing is rising, and political tensions are too.
I would hate to see Norwegian beaten down by BA and IAG. Its such a thorn in BA's side, but as usual, the incumbents still win. BA AF KLM will still be around , still charging the earth, long after NLH has been gobbled up.
Anyone putting up €40000 for their B787 training bond at the moment needs to be prepared for the worst.