I will say it's a real shame about NOR, from a flight crew/work side perspective they were excellent for improving working conditions. I'm aware of a lot of guys who moved there for the better the conditions, pay and the like. They forced other companies to improve their environment in order to retain crew.
The loss of NOR could help other airlines with new aircraft and crews being available when all this is sorted.
However NOR got themselves into a mess. Buying 737s, and later 787s, with a large number of the optional extras, no real plan of how to use all the ones they bought, and then there's the "better conditions".
The conditions seemed (at least from the outside), to be better pay, better hours, things being given to you rather than the "go get it yourself" that other European LCCs may have. I have heard some NOR guys struggling to get their base training and being paid to wait around for it.
All this added cost, this growth meant the likes of EZY, WZZ, & RYR had a much lower cost base on crew and aircraft.
The money didn't go as far when they earned it, there was no "LCC mentality" to it.
Their long haul dream will need a solid short-haul performance. Even with the MAX returning, this could be difficult.
Truly I wish all the best those at NOR, and I hope management are able to fix all that has happened.