Not quite!
Norwegian needs more time for restructuring. The deadline for Norwegian Air and its four Irish subsidiaries’ protection from creditors by the Irish courts is currently set to February 25th. However, the
Irish Times reports that
examiner Keiran Wallace of Anglo-Dutch KPMG is set to ask the High Court to provide an extension.
The senior counsel to the examiner informed the court of the likelihood of the forthcoming request on Monday. Initially intended to last 100 days, this would increase the length of the examinership to 150.
The creditors are saying that Norwegian is trying to now trying to force a take it or leave it deal, and the council for the Examiner will request a further extension. The judge will decide if the extension can be granted, but almost certainly will. The creditors must respond by this Friday to the proposals of Norwegian, the leases are a sticking point and now Norwegian has decided to get back in bed with Boeing for the continued maintenance.