So what is the reality of the Norwegian story here?
Now somebody please tell me if I am wrong.
Norwegian cutting ties with OSM and other Norwegian subsidiaries, OSM and these Norwegian Subsidiaries are independent companies, basically this is NAS way to get rid of XX millions of liabilities and debts.
As far as I understand, this was one of the main reasons Norwegian in Norway went on strike a few years ago, as now Norwegian still have all the aircraft, but severed their ties with these companies who they had an agreement.
Don't forget that these are all subsidiaries of Norwegian, and Norwegian have now shown the world what they were designed for, cut their losses while they can and save the remaining part of the airline in case of such an economic downturn.
We do not need to go very far back in this thread, where I was warning against exactly this issue, and there were people gloating that they had the same job security as anyone else in the company, absolute BS.
NAS knows the government will not provide support for all the subsidiaries around the world, but now a slimmed down NAS, where they main market is Scandinavia / Norway, that's a different story, they will probably get support to preserve the Norwegian Core contracts / jobs.
So OSM now have X amount of pilots, but OSM don't have a single aircraft, and these subsidiaries are all going bankrupt and it will not effect Norwegian one dot, they have just been able to offload 4500 crew in one day, from their payroll with this despicable business model.
Still NAS have all the aircraft, so if they now get government help, and they can get back to business, they will just setup a new agency to hire pilots, pilots who will not be working for an airline, but job agency, without any assets.
Wake up guys, this is a shambles.