PPRuNe Forums - View Single Post - Hard times for Norwegian
View Single Post
Old 15th Jun 2020, 10:00
  #730 (permalink)  
maxpeck
 
Join Date: Jun 2016
Location: Earth
Posts: 56
Likes: 0
Received 0 Likes on 0 Posts
Where is the money coming from for this expansion? They got a loan from the Norwegian state, which has to be paid back, that will be enough for flying 7 planes until the end of the year give or take. Hardly any income, bills to be paid if they start flying again, fuel, wages, leasing costs it won't be cheap. Been hovering around bankruptcy for years so you can think that there isn't exactly money in their bank account to use.

A global economy that is tanking so who is going to invest money into them to start flying again. Doubt any of these leasing companies will, lets be honest they went in because they had no choice so it was in their benefit. Now they will be facing a recapitalised SAS with even the Norwegian state thinking about going back in, it's not going to be easy for them at all. All this talk about pilots still being employed in OSM is surely academic isn't it. This is coming from someone in Scandanavia who lost their job.
maxpeck is offline