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.

Horrible for the staff, but I can't see Norwegian surviving this.....

Sealink & EFFIS Are you sure 🤔
 

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..

If this happens amazing, but Norwegian have underlying finance issues anyway. Let's hope for the best...

If they take it from their Sovreign funds it is the equivalent of less that 1% of the value of the fund......... not even a drop in the ocean.

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/

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?

Keep it viable will be the thing. Those big loss makers they can cut loose.

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.

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.

Well this is going to be the problem in the coming weeks. How do you decide which airline will get a bailout? Why should Norwegian taxpayers provide cash for an U.K. AOC? Or British taxpayers for IAG based in Spain? Or for EasyJet with 150 aircraft registered in Austria?

It’s going to be a real bumfight.

easyJet should not be blamed for that, this folly has it's own name, brexit.

True............

From the latest press release:

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.

Well NUK was only created because of Brexit. Or does that not matter because it’s Norwegian and not easyJet?

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

I'm pleased that you have taken your time to have explained that. I was thinking of doing the same actually!

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.