[QUOTE=SWBKCB;10755906]So how does this stack up with the ownership requirements for the various AOC's?
The requirements don't change. Many airlines have different AOC's and registrations, but doesn't make them different entities when it comes to ownership. Even SAS has bases in continental Europe and an irish AOC for operational reasons.
And don't get me wrong. It may very well be that norwegian indeed goes bust and is then reborn as a Nordic player with just 737's. But that's not a bail out or a a debt to equity swap as it's being discussed right now. It'll be a full rebirth of something else, although with maybe even the same planes, part of the Nordic staff and even the same brand if the creditors get a fair price in liquidation.