Originally Posted by
Doors to Automatic
JonEMA - I also liked Andrew Lobbenberg’s words:
”"The business was run around the growth agenda – they had too many aeroplanes," says Andrew Lobbenberg, head of European transport equity research at HSBC. "The tail was wagging the dog because the network was being designed to absorb the fleet plan rather than the fleet plan was being designed to meet the network."
It seems absolutely incredible that so many aircraft were ordered in one go. Not just the incumbent 737s but 787s and A321s. I didn’t know until today that there are yet more on order - 60 or so A320s.
Saying “we are switching from growth to profitability” is completely meaningless when you still have 200 aircraft on the way and little idea where to deploy them profitably.
What on earth were these people thinking?
if this airline survives with its dysfunctional fleet and business model, it will be the biggest miracle in the history of aviation.
The Airbus order will soon be transferred into a joint venture. This has indeed been the plan ever since the original airbus/boeing order was annonced back in 2012.
“A plan to sell around 70 spare on-order Airbus aircraft to a newly formed joint-venture leasing company are ongoing, Norwegian says, citing "positive" conversations. If successful, this "could be a very large step toward de-risking the business", notes Lobbenberg.
As I mentioned earlier, there will be some serious backtracking in here from all the bezzerwizzers IMHO. I guess time will tell...