" I read the leasing companies as part of the deal have voting rights. I presume this means seats at the top table and not just ordinary share voting rights. In that case it won't be a pleasant few years as the leasing companies claw back all that is owed plus interest before exiting"
Quote: "Norwegian’s CEO Jacob Schram said the restructuring gives the airline a platform to continue, but pointed out the challenges ahead: “The months ahead will remain challenging and with a high degree of uncertainty for the industry.
Norwegian will still need to collaborate closely with a number of creditors as the Company currently has limited revenues.” "
That limited revenue looks set to continue for many months. Prior to the restructure, Schram announced the company would be operating in “
hibernation mode” for the remainder of 2020, and that full operations would not resume until 2022.
The writing is already on the wall, unless there is a huge cash injection the company will probably go bust and the Chinese will take the aircraft as the US/China trade wars have slowed orders up, this would suit both BOC Aviation and AerCap.
Writing off the debts was Hobson's choice and by now the old creditors (now shareholders) have come to terms with the fact they are caught with their trousers around their ankles.