Mr. Walsh stated earlier this year that Norwegian needs a partner. Granted, the mammoth aircraft order book has been weighing heavily on the financials lately. The RR engine woes, subsequent wetleases and passenger compensations haven’t helped either. Mr Kjos reluctant stance on not hedging fuel has also been expensive in the short term, but with the oil price now down by 30 percent will potentially save the company billions of norwegian kr in the coming year in comparison to its competitors.
Also, the future joint venture(watch this space) will now bear the cash obligations on future deliveries, reduce the debt and strengthen the own capital.
IAG are free to bid for a third time, but it will have to have very deep pockets.