Originally Posted by
INKJET
There are 50 engines that need replacing to get them all back up to scratch, they have deferred their bond repayments due December and August by two years and almost all of the unprofitable flying has been dropped, the loads out of London have been full despite wet lease thanks to BA pilots strike action.
Next months results will make interesting reading.
Indeed.......Ink
How quickly can the 50 engines be fixed..?... Rolls are reporting that it will take until the end of 2nd qtr to get through the backlog. Presumably, there is a priority list to work through based on cycles but we've heard nothing from Norwegian about how there's are phased and the effect it may have on the already depleted winter schedule (down 20% YOY)
Bond defaults give them enough cash until just past Christmas by my reckoning so expect another rights issue at some point.
Pulling unprofitable flights out of the schedule is quite easy and relatively instant I imagine. Getting the costs to follow will be more tricky I think.
BA strikes certainly helped I'm sure and I bet Norwegian wished they had more seats available for those high yielding, late bookers.:0