Expansion is the only thing that is keeping the company going. They are paying for today’s flying programme with the forward sales for future flying. They’re a flying Ponzi scheme. I love how people say they’re backed by the Norwegian sovereign wealth fund ignoring the fact that that same fund is unlikely to want to lose money in perpetuity. Low Cost Long Haul is historically unprofitable and a non starter. Nothing’s changed in that respect and it’s being found out again now.
Believe me when I say I bear the crews of Norwegian no ill will. I’ve been through a redundancy and it’s not pleasant. For the good of the future Ts & Cs of our profession though Norwegian cannot disappear fast enough. We’re all getting benchmarked against them. Whether is a good product for the consumer is a moot point. The product is being sold below cost. I’d love to buy an LG OLED 85” TV for £100 and of course if they give me the opportunity to do that I’m gonna think they’re a great company. The fact is though the economics do not add up in the long run.
Will be an interesting few months..