Norwegian
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It’s out of Norwegians control now, there is absolutely nothing that can change the outcome and without immediate state intervention, then to be frank there is little point continuing beyond the end of this week and CEO knows that.
The problem I see ( actually one of a number) is that the biggest cost base is probably LGW long haul and not much of that really matters to Norway, it’s possible that they could break up the company and retain the Scandinavian & Finish short haul fleet, the company has multiple AOC’s so it probably isn’t to difficult slice and dice.
The problem I see ( actually one of a number) is that the biggest cost base is probably LGW long haul and not much of that really matters to Norway, it’s possible that they could break up the company and retain the Scandinavian & Finish short haul fleet, the company has multiple AOC’s so it probably isn’t to difficult slice and dice.
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Join Date: Jul 2002
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I read this comment. If true it won’t help.
Norwegian moved a large portion of the Company to Ireland to avoid paying taxes in Norway and avoid troublesome Norwegian Labour laws.. Now they want the Norwegian government to bail them out..
Norwegian moved a large portion of the Company to Ireland to avoid paying taxes in Norway and avoid troublesome Norwegian Labour laws.. Now they want the Norwegian government to bail them out..
Join Date: Apr 2010
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Norwegian Government bail out
It appears that Norwegian have been given a lifeline by the Norwegian Government.
Information in the following link plus British Airways, easyJet, Virgin Atlantic
http://www.headforpoints.com/2020/03...ment-bail-out/
Information in the following link plus British Airways, easyJet, Virgin Atlantic
http://www.headforpoints.com/2020/03...ment-bail-out/
Join Date: Jul 2006
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Norwegian is split into a dozen companies, most outside Norway. I wonder is the Norwegian government bailing out Norwegian as a whole, or just the Norwegian wing of Norwegian?
Join Date: Jul 2009
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Norwegian UK (NUK), callsign Rednose, is the true cash maker for the group. It runs under a UK AOC and employs mostly Brits via agency employment with some having moved over to OSM, Norwegian's in house agency for employment. The company is famous for such shoddy employment practices such as this and it will be difficult to unravel. It would be interesting to see how this works out because the British government sure as hell isn't going to touch this mess with a barge pole.
I Have Control
Join Date: May 2004
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Sadly, Norwegian represent the end-point of the airline industry in 2020. Low fares, tight margins, sub-standard employment T & C's, and now enormous over-capacity and debt.
I feel very sorry for their employees, but not for Norwegian's founders and top brass. The airline is destined to go under within weeks, although small bits may just be salvageable. (Unlikely)
The customers can't be blamed for greed, although their appetite for unfeasibly cheap fares has supported the idiocy and greed of the airline management.
The future airline world will be a reversion to low frequency, high fare flights, with many fewer and much better-paid pilots and engineers. The lesser-skilled pay grades such as cabin crew, cleaners, and the like, will all be paid as poorly as before. Perhaps worse. Sad.
I feel very sorry for their employees, but not for Norwegian's founders and top brass. The airline is destined to go under within weeks, although small bits may just be salvageable. (Unlikely)
The customers can't be blamed for greed, although their appetite for unfeasibly cheap fares has supported the idiocy and greed of the airline management.
The future airline world will be a reversion to low frequency, high fare flights, with many fewer and much better-paid pilots and engineers. The lesser-skilled pay grades such as cabin crew, cleaners, and the like, will all be paid as poorly as before. Perhaps worse. Sad.
Norwegian UK (NUK), callsign Rednose, is the true cash maker for the group. It runs under a UK AOC and employs mostly Brits via agency employment with some having moved over to OSM, Norwegian's in house agency for employment. The company is famous for such shoddy employment practices such as this and it will be difficult to unravel. It would be interesting to see how this works out because the British government sure as hell isn't going to touch this mess with a barge pole.
It’s going to be a real bumfight.
Join Date: Aug 2006
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From the latest press release:
Reference is made to the press release by the Norwegian Government on 19 March 2020 regarding the financial measures to support the Norwegian airline industry and the subsequent stock exchange notice from Norwegian Air Shuttle ASA.
Norwegian is pleased to announce that two Nordic banks have obtained credit committee approval to provide a guarantee for the required 10 percent for the first tranche of NOK 300 million. Norwegian will secure the necessary headroom to pursue further guarantees from the Norwegian Government.
Norwegian is pleased to announce that two Nordic banks have obtained credit committee approval to provide a guarantee for the required 10 percent for the first tranche of NOK 300 million. Norwegian will secure the necessary headroom to pursue further guarantees from the Norwegian Government.
Also as well as their rather "suspect" manner of operating, as in AOC's and varying agencies etc., they have the unfortunate problem of being somewhat reliant on two of Boeing's "disasters", 787 with their RR problem and the 737 **x.
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It was always operated on behalf of Norwegian Air International (Ireland) from early 2016.
When the UK registered 787s arrived in summer 2016, they initally operated on behalf on Norwegian Air Shuttle (Norway).
They started operating their own flights (with DI/NRS codes) in October 2017.
KT
Norwegian Air UK was actually formed in 2015, long before the Brexit vote. Their first aircraft B738 G-NRWY was registered in November 2015.
It was always operated on behalf of Norwegian Air International (Ireland) from early 2016.
When the UK registered 787s arrived in summer 2016, they initally operated on behalf on Norwegian Air Shuttle (Norway).
They started operating their own flights (with DI/NRS codes) in October 2017.
KT
It was always operated on behalf of Norwegian Air International (Ireland) from early 2016.
When the UK registered 787s arrived in summer 2016, they initally operated on behalf on Norwegian Air Shuttle (Norway).
They started operating their own flights (with DI/NRS codes) in October 2017.
KT
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If Norwegian needed 2 different commercial banks to come up with a combined loan of less than the eqivalent of 2.5 million pounds to release the first 25 million pounds bailout loan from the norwegian state, it is not looking good for getting their hands on any more of the bailouts because those terms are a lot more stringent.