Originally Posted by
JaxofMarlow
So where has NOK 17,131,000,000 of debt come from ?
Quoting an absolute debt figure without context, without a balance sheet and without looking at asset structure is just showing off lack basic of business knowledge
Here is again a report by SEB Bank of NAS i posted earlier which is publicly available:
https://webapp.sebgroup.com/mbs/research.nsf/alldocsbyunid/CD0FD8856587EB75C1257F56004F564C/$FILE/NAScredit110216aqw.pdf
They give an explanation for their solid B credit rating with stating strength and risks of the corporate structure. If you google a little further, you will notice that in an aviation context, a solid B is about average and considering that they are aggressively expanding gives a hint that financial institutions are actually seeing that this company is build on solid grounds while also acknowledging the risks that go along with such an expansion.
Another good source is the official annual report 2015, which as well publicly available. That will give you more information on the asset and liability structure and also an overview of some key financial figures from the last 10 years.
People here get always annoyed when they read an article or report in the media which shows no understanding of aviation at all or quoting out of context figures, like when there has been a crash or when a there is a labour related conflict between pilots and management (and the public opinion is swayed against pilots by just quoting wrong figures) but have on the other hand no problem at all, and have taken it with Norwegian to the extreme, to do the exact same thing, jumping to conclusions from hearsay (contents and structure of contracts) or out of context figures without having background knowledge ( do you know without asking google what tangible assets are, do you know how to properly read a balance sheet, do you know about the reporting standards of a large corporation) and showing a confirmation bias that would make an awesome case study in every CRM class.
Its all about emotions not about facts here anymore. Post factum world par excellance.