Norwegian Lay offs

[babemagnet]

Latest news 51 pilots loose their job in Spain and102 pilots unpaid leave untill april 2020. 😬

[midnight cruiser]

Oh dear. From the 787, or both fleets?

[Vokes55]

Yawn. When you have 18 aircraft grounded (plus however many should’ve been delivered by now) and 50 engines that need replacing/inspecting, you need fewer crew.

Change the record.

[Flightrider]

^^^^^

Probably has to rank as one of the most insensitive and crass postings I've read on here in quite some time.

[Atlantic Explorer]

^^^^^

Probably has to rank as one of the most insensitive and crass postings I've read on here in quite some time.

he sounds like he is DY management.

[Plastic787]

Post anything negative about Norwegian’s financial well-being and Vokes55 will be first to come out with his fingers between his ears and shouting that all is well. Just like Comical Ali standing in front of the American tanks rolling into Baghdad proclaiming the infidels were being driven out. Makes you wonder who he’s trying to convince.

[Calmcavok]

Yawn. When you have 18 aircraft grounded (plus however many should’ve been delivered by now) and 50 engines that need replacing/inspecting, you need fewer crew.

Change the record.

What’s your problem?? I’ll assume you’ve never been through a redundancy. It’s only a matter of time in this industry. If you have, then I hope folk were a little more empathetic with you than you are being here. Being kind costs nothing.

[Vokes55]

What’s your problem?? I’ll assume you’ve never been through a redundancy. It’s only a matter of time in this industry. If you have, then I hope folk were a little more empathetic with you than you are being here. Being kind costs nothing.

I think you’ve misunderstood my point. I’m tired of hearing every single negative rumour about Norwegian as some sort of indication that they’re about to collapse, seemingly to some fanfare from the ignorant souls on the internet who have little to no care about the welfare of those who will lose their jobs.

Ryanair are telling pilots to take 12 months unpaid leave. I am taking unpaid leave in my organisation, voluntarily. Cabin crew are hired on seasonal contracts in a lot of airlines. Here’s some news to some people: The winter is quieter than the summer. And if you have a number of aircraft grounded on top of that, of course companies are going to ask people to take unpaid leave. From what I understand, nobody in Norwegian is being forced into anything, they’ve just been given a number of options which may or may not appeal to them. What happens if they don’t get the required number of volunteers, I don’t know.

So repeat, change the record.

[bringbackthe80s]

Wake up. Respecting your employees does not mean using them when you need them and drop them when you don’t. Honestly I can’t believe this

[SaulGoodman]

I think you’ve misunderstood my point. I’m tired of hearing every single negative rumour about Norwegian as some sort of indication that they’re about to collapse, seemingly to some fanfare from the ignorant souls on the internet who have little to no care about the welfare of those who will lose their jobs.

Ryanair are telling pilots to take 12 months unpaid leave. I am taking unpaid leave in my organisation, voluntarily. Cabin crew are hired on seasonal contracts in a lot of airlines. Here’s some news to some people: The winter is quieter than the summer. And if you have a number of aircraft grounded on top of that, of course companies are going to ask people to take unpaid leave. From what I understand, nobody in Norwegian is being forced into anything, they’ve just been given a number of options which may or may not appeal to them. What happens if they don’t get the required number of volunteers, I don’t know.

So repeat, change the record.

The fact that you might work for scumbags doesn’t make it right... I’ve lost 8 years career progression due to redundancy, that is quite a bitch I can tell you..

Having said this; if you apply for Norwegian as a contractor, you should know in advance that you are amongst the first ones out when the **** truly hits the fan. Nevertheless, good luck with seeking new opportunities (again).

[midnight cruiser]

, good luck with seeking new opportunities (again).
I think vokes has nary a bridge left unburnt.

[Smooth Airperator]

One thing about Norwegian is that they are masters of BS. Every day there's internal comms about insignificant and irreverent matters yet the big news is always discovered via the media or rumour network. They have totally underplayed the 737Max impact, quoting I think 30 million Euro loss when it's going to be more like 300 million. The RR issues just keep on getting worse with no sign of wet lease ending to fill the gap. None of this is their fault, but the BS impacts career choices and ultimately paints a false picture about job security. They recently announced they will be hiring more pilots for LH soon. Not with the Madrid closure, there's barely enough jobs for those boys and girls.

[Plastic787]

I think you’ve misunderstood my point. I’m tired of hearing every single negative rumour about Norwegian as some sort of indication that they’re about to collapse, seemingly to some fanfare from the ignorant souls on the internet who have little to no care about the welfare of those who will lose their jobs...
So repeat, change the record.

So if you’re such a snowflake that you can’t stand to hear people raise quite reasonable questions about Norwegian’s questionable finances might I suggest a Professional Pilots Rumour Network is not really the place for you.

[Vokes55]

Wake up. Respecting your employees does not mean using them when you need them and drop them when you don’t. Honestly I can’t believe this


So what do you suggest Norwegian do? Keep everyone employed on full time contracts when they have 25+ aircraft fewer than they planned? That makes great business sense.




The fact that you might work for scumbags doesn’t make it right... I’ve lost 8 years career progression due to redundancy, that is quite a bitch I can tell you..

Having said this; if you apply for Norwegian as a contractor, you should know in advance that you are amongst the first ones out when the **** truly hits the fan. Nevertheless, good luck with seeking new opportunities (again).


Who said where I work? I’ve taken unpaid leave because I wanted to as a lifestyle choice that was offered to me, because despite what the willy-wavers in the BA thread might tell you, there’s more to life than working 900 hours per year. I certainly wouldn’t call my employers scumbags either, but seeing as this thread is awash with personal attacks from people about people they not only don’t know, but have no idea who they work for or any other life circumstances, I’ll join in and suggest maybe your 8 years lost career progression was due to your own life choices, and not anybody else’s fault.






So if you’re such a snowflake that you can’t stand to hear people raise quite reasonable questions about Norwegian’s questionable finances might I suggest a Professional Pilots Rumour Network is not really the place for you.


Let’s face it, you’re just another BA pilot who’s been brainwashed by his management into believing that Norwegian are the reason your T&Cs have become so dire. I’m surprised you found time in between your 6 long haul trips per month to post on here, let alone on a topic that doesn’t concern you at all.

But in answer to your question, tell me how the ‘news’ at the top of the thread is linked to the company’s “questionable finances”, with evidence.

[matt283]

From what I heard all the Madrid based cabin crew and flight crew will face redundancy...

Company is not respecting seniority in Spain...

[Plastic787]

Vokes55 quite frankly you’re embarrassing yourself. You’re a complete caricature and becoming beyond parody. You do realise the irony in calling out people as willy-wavers making assumptions about people they don’t know and in the same breath going on the attack about BA’s “six trips a month”. None of which applies to me.

For the record we’ve seen an emergency rights issue and putting up their Gatwick slots as collateral in a push to delay repayment of bonds. Add to that the retrenchment of the airline throughout Europe and cancellation of routes and credit card companies withholding payments added to the current news contained within this thread. None of which paint a rosy picture of the financial situation at the airline. The total liabilities they are sitting on (over £6Billion) are eye watering. Now you can point out these are moves to stabilise the airline’s economic situation but, if you do, you are conceding that the economic situation was bad to begin with and the airline has been (up to this point) grossly mismanaged. Which illustrates the point that many of us commentating on Norwegian’s financials have been making all along. You can’t have it both ways I’m afraid Vokes, if these measures are being taken it’s because the business model was completely bogus.

I know you and others in the past (before the extension of the bond deadline and the rights issue) have been glossing over the debt situation by saying the debt was needed for expansion. Now the company are realising that trying to grab market share and grow into profitability is absolutely impossible at the fares that Norwegian charge with their level of overheads. The business model has been flawed the entire way along and if they couldn’t do it at a time when the aviation industry as a whole has been reporting record profitability then God knows how bad it’s going to be in a world economic recession.

Norwegian are not in a good place Vokes. Believe it or not I don’t take any great pleasure in that largely because - as we’ve seen with recent events at Thomas Cook - it isn’t pleasant when our colleagues in other airlines are put out of work. I’ve been through it myself. It’s not pleasant when people speculate in a negative fashion and you might not like what you hear (for whatever reason) but acting like a spoilt child, sticking your fingers in your ears and screaming and shouting all you like doesn’t change that reality and should not stifle the debate about a company in genuine difficulty and Norwegian are definitely in this category.

[Vokes55]

From what I heard all the Madrid based cabin crew and flight crew will face redundancy...

Company is not respecting seniority in Spain...

From what I heard they are discussing options with unions, and will almost certainly be offered transfers. As happened with the Canaries and EDI base. Whether Madrid crew want to transfer to other bases is up to them.

[matt283]

From what I heard they are discussing options with unions, and will almost certainly be offered transfers. As happened with the Canaries and EDI base. Whether Madrid crew want to transfer to other bases is up to them.

Unions got informed by the company about starting redundancy process for all Madrid based crew.

Decision to close TFS and LPA has been cancelled.

Only Spanish base closed so far was PMI and yes crew got transfers, but with MAD it is different case - Norwegian already started redundancy process - ere.

[Doors to Automatic]

From detailed analysis I have carried out to advise investors in DY, I would say that Plastic787’s analysis is absolutely spot on.

Last year the airline made NOK 1.3bn during Q3, which was swallowed up halfway through Q4. Since then they have issued more shares, sold off assets and effectively defaulted on a huge loan, putting up their LGW slots as security in return for an extension. I am willing to bet the bondholders had no choice.

Despite their proclamations about turning the company around and morphing dramatically from growth to profitability, Q1 and Q2 seat costs are around 20% higher than 2018.

Summer 2019 passengers and revenues have been broadly flat in July and August and so unless there has been a dramatic reduction in the seat cost trend it is likely Q3 will not make anywhere near the profit of Q3 2018.

If this comes to pass (we should find out next week), it will be a very tough Winter. I hope I am wrong but I don’t see a rosy future for this airline, just based on figures and trends I have analysed recently,

[RoyHudd]

Too much overcapacity. Wafer thin margins. Ludicrous growth projections, propagated in part by a/c manufacturers. Road crash ahead.

[directmisbi]

From detailed analysis I have carried out to advise investors in DY, I would say that Plastic787’s analysis is absolutely spot on.

Last year the airline made NOK 1.3bn during Q3, which was swallowed up halfway through Q4. Since then they have issued more shares, sold off assets and effectively defaulted on a huge loan, putting up their LGW slots as security in return for an extension. I am willing to bet the bondholders had no choice.

Despite their proclamations about turning the company around and morphing dramatically from growth to profitability, Q1 and Q2 seat costs are around 20% higher than 2018.

Summer 2019 passengers and revenues have been broadly flat in July and August and so unless there has been a dramatic reduction in the seat cost trend it is likely Q3 will not make anywhere near the profit of Q3 2018.

If this comes to pass (we should find out next week), it will be a very tough Winter. I hope I am wrong but I don’t see a rosy future for this airline, just based on figures and trends I have analysed recently,

I will definitely hold you up on this statement when the Q3 Numbers are presented late october.

[BluSdUp]

September numbers out at DN.no.
3.3 million pax in September down 4 % from last year.
90% seat factor and well on their way to save 2 BillionNkr ( 200 mill Euro).
Stocks up.
Disregard my earlier negative attitude because I had to pay 75 euro for extra bag the other day, I still think there is a positive trend.
What is more important the Investors here north are optimistic, so there is a good chance of a successful recovery.

Regards
Cpt B

[dirk85]

If I remember right 2018 Q3 profit was mainly due to exceptional elements, not due to the good performance of the core business, so I do expect worse results this time around, unless some other non recurrent elements (eg Rolls Royce compensation or things like this) comes up again.

[Doors to Automatic]

I will definitely hold you you up on this statement when the Q3 Numbers are presented late october.

Are you suggesting than my assumptions (which are based on fact) are wildly out? Perhaps you would be kind enough to show me where I have gone wrong.....

[Meester proach]

I understand the nature of this game is fairly seasonal, but the constant requests for people to take unpaid leave etc still leave a bad taste.
We produce the profits in the summer and work hard and expect a bit of down time in the winter, but unfortunately my mortgage isn’t seasonal.

[testpanel]

Idea: fly pax in summer, cargo in winter!:}

[Smooth Airperator]

Ask Norwegian management when the compensation from RR and Boeing is arriving. They have no answer. It's been in "negotiation phase " forever. Have they even received a single dime? Is it even going to be cash? It's the elephant in the room no one is talking about and will dictate Norwegian's future far more than FUC*US2019. And btw, 200 million profit is nothing. You burn through that in 2 months as history has shown

[MCDU2]

If you had a large number of orders with me but I had messed up so owed you a bit of cash back.....but I had concerns over your ability to operate as a going concern in the forseeable future....Would I:
(a) give you a cash refund now
(b) kick the refund process into touch to see how it all plays out
(c) if push comes to shove give you a discount at a later date on future orders

[rotorwills]

If you had a large number of orders with me but I had messed up so owed you a bit of cash back.....but I had concerns over your ability to operate as a going concern in the forseeable future....Would I:
(a) give you a cash refund now
(b) kick the refund process into touch to see how it all plays out
(c) if push comes to shove give you a discount at a later date on future orders


well i I am a bit stumped here, do I ask for 50-50, phone a friend, I know let's ask the audience.

[Doors to Automatic]

well i I am a bit stumped here, do I ask for 50-50, phone a friend, I know let's ask the audience.

Well don't bother asking the host - he will tell you everything is rosy and the airline is destined for profitability. :ok:

[directmisbi]

Flightglobal has produced a well written, and very professional article about the situation in Norwegian. A comitted observer, no doubt.
https://www.flightglobal.com/news/articles/analysis-norwegians-race-to-reach-profitability-461279/

[JonEMA]

Flightglobal has produced a well written, and very professional article about the situation in Norwegian. A committed observer, no doubt.
https://www.flightglobal.com/news/articles/analysis-norwegians-race-to-reach-profitability-461279/

Interesting read..........thanks for sharing.... .....

This made me smile

Norwegian itself points out that as it runs a premium product alongside its low-cost tickets, its position is not too dissimilar to how British Airways or Virgin Atlantic are operating the transatlantic market. "I think everybody realises the business model does work," says Norwegian.

If they truly believe this then there is no hope.......

[Doors to Automatic]

JonEMA - I also liked Andrew Lobbenberg’s words:

”"The business was run around the growth agenda – they had too many aeroplanes," says Andrew Lobbenberg, head of European transport equity research at HSBC. "The tail was wagging the dog because the network was being designed to absorb the fleet plan rather than the fleet plan was being designed to meet the network."

It seems absolutely incredible that so many aircraft were ordered in one go. Not just the incumbent 737s but 787s and A321s. I didn’t know until today that there are yet more on order - 60 or so A320s.

Saying “we are switching from growth to profitability” is completely meaningless when you still have 200 aircraft on the way and little idea where to deploy them profitably.

What on earth were these people thinking?

if this airline survives with its dysfunctional fleet and business model, it will be the biggest miracle in the history of aviation.

[directmisbi]

Interesting read..........thanks for sharing.... .....

This made me smile

Norwegian itself points out that as it runs a premium product alongside its low-cost tickets, its position is not too dissimilar to how British Airways or Virgin Atlantic are operating the transatlantic market. "I think everybody realises the business model does work," says Norwegian.

If they truly believe this then there is no hope.......

Willie Walsh disagrees :

Walsh goes on to praise the "exceptional job" done by Norwegian's chief executive Bjorn Kjos, such as the proof-of-concept work relating to long-haul low-cost operations.

"He's proven, if not to everybody but certainly to us, that the market exists and the customer will embrace the business model."

[directmisbi]

JonEMA - I also liked Andrew Lobbenberg’s words:

”"The business was run around the growth agenda – they had too many aeroplanes," says Andrew Lobbenberg, head of European transport equity research at HSBC. "The tail was wagging the dog because the network was being designed to absorb the fleet plan rather than the fleet plan was being designed to meet the network."

It seems absolutely incredible that so many aircraft were ordered in one go. Not just the incumbent 737s but 787s and A321s. I didn’t know until today that there are yet more on order - 60 or so A320s.

Saying “we are switching from growth to profitability” is completely meaningless when you still have 200 aircraft on the way and little idea where to deploy them profitably.

What on earth were these people thinking?

if this airline survives with its dysfunctional fleet and business model, it will be the biggest miracle in the history of aviation.



The Airbus order will soon be transferred into a joint venture. This has indeed been the plan ever since the original airbus/boeing order was annonced back in 2012.

“A plan to sell around 70 spare on-order Airbus aircraft to a newly formed joint-venture leasing company are ongoing, Norwegian says, citing "positive" conversations. If successful, this "could be a very large step toward de-risking the business", notes Lobbenberg.

As I mentioned earlier, there will be some serious backtracking in here from all the bezzerwizzers IMHO. I guess time will tell...

[Doors to Automatic]

Ok - so that still leaves over 100 aircraft to find profitable homes for. Not saying it is impossible, but it will require an eye-watering amount of cash the airline doesn’t have.

[JonEMA]

Willie Walsh disagrees :

Walsh goes on to praise the "exceptional job" done by Norwegian's chief executive Bjorn Kjos, such as the proof-of-concept work relating to long-haul low-cost operations.

"He's proven, if not to everybody but certainly to us, that the market exists and the customer will embrace the business model."

Was this at Kjos's leaving do..?......Walsh often blows sunshine up his competitor's arses (media training - never slag odd the competition)........but don't get confused. If the model was working IAG would have piled in by now.....

The harsh reality is that their transatlantic services are in no way similar to those of BA,VS,AA,DL et al all of whom have the, frequency, connectivity, and travel management contracts in place to service the high yielding, late booking business passenger who provide the profits. i
Norwegian, on the other hand, has none of these advantages which leaves them squarely in the highly competitive point to point leisure market which is highly seasonal and mostly unprofitable. In short, they have a yield problem that IMHO they simply cannot address given where they are. ........oh yes, and advertising £99 pound fares across the pond next year only makes matters worse.......

[Thegreenmachine]

Willie Walsh disagrees :

Walsh goes on to praise the "exceptional job" done by Norwegian's chief executive Bjorn Kjos, such as the proof-of-concept work relating to long-haul low-cost operations.

"He's proven, if not to everybody but certainly to us, that the market exists and the customer will embrace the business model."

Ask Willie how he is getting on with that with Level? In fact just read the accounts.

[Plastic787]

What exactly have Norwegian proven? That customers are willing to pay for a product that is being sold below cost? I think if anyone didn’t think that was the case, they’d be certifiable.. The proof in whether the model works or not is not sentiment of passengers but cold hard financials. Passengers love the A380, if that was the metric there’d be thousands of the things flying around the skies. Theres not and that’s because of the financials of the aircraft. Norwegian’s financial statements do not make pretty reading and are the ultimate litmus test of the Long Haul Low Fares model. Directmisbi what is it you believe that Norwegian are doing or what advantage do you believe they have that makes their prospects fundamentally any different to that of Laker etc? With Norwegian first of all it was expand to profitability now it’s shrink to profitability. Are there not major red flags there in that last sentence that the model is all wrong?

[JonEMA]

https://cimg2.ibsrv.net/gimg/pprune.org-vbulletin/563x361/norwegian_ex_helsinki_4172671225a3a000985a23bb4e8637bbdda567 13.png
posted today on LinkedIn by an agency who tracks fares by route and mixes the revenue with costs published in airline accounts.

Most of these routes have been culled or suspended but LGW and FCO remain according to the post.

Would be interesting to see the same analysis network wide which, given they are keeping LGW and FCO at -29% and -22% margin respectively will likely show that there aren't too many 'profitable' routes that they can focus on.....

[directmisbi]

I will say this. Let the numbers do the talking. Q3 will be out shortly. Full year results are likely showing another loss, but CFO still guiding the markets for a 100 percent improvement comparing last year. This excluding the 787 and max reimbursements. Loadfactor on LH in the high nineties, yield up month by month. Rumors of Norwegians demise have been greatly exaggerated, partly led by media, MOL and his evil henchmen

[Doors to Automatic]

I will say this. Let the numbers do the talking. Q3 will be out shortly. Full year results are likely showing another loss, but CFO still guiding the markets for a 100 percent improvement comparing last year. This excluding the 787 and max reimbursements. Loadfactor on LH in the high nineties, yield up month by month. Rumors of Norwegians demise have been greatly exaggerated, partly led by media, MOL and his evil henchmen

100 percent improvement? On what?

If Norwegian were in their current position going into a Summer where the general market is on the up, with all aircraft delivered and markets becoming established then maybe they might stand a chance but as things stand I would doubt that very much. The decision to buy brand new 787s for an LCC product was madness in my opinion. The airline would have been better off opting for A321s and operating them to the limits of their range, rather than launching flights to places like BKK and EZE.

Seat costs on the B788 on LGW-JFK are circa £250 one-way. Adjust for ancillary revenue and a 90% load factor and you need a fare of around £235 to break-even. That is excluding taxes, year round and across every seat. For every £133 fare put out, a £335 fare will be required to achieve that average. A £335 fare will equate to around £800 return once taxes and charges are added on, hardly low-cost! Yes, there is a premium cabin, but that accounts for only a relatively small number of seats.

When the airline is putting out £50 o/w fares in low season excluding taxes (yes you did read that right) please help me understand how it will miraculously turn itself around?

[Smooth Airperator]

This excluding the 787 and max reimbursement

Here we go again. What reimbursement? The RR problems have been ongoing for years, has any money been received? The MAX issue 7 months now. No money is coming or investors and bond holders alike would've been told to help calm their fears. No one even knows if its money or favours by Boeing.

[MCDU2]

Same as with the A340. Once Boeing is pushed into a corner then it inevitably offer a discount on new orders and/or dangle carrots. But it will kick it into touch for as long as it can in the knowledge that some of its customers won't be around to claim.

[directmisbi]

From detailed analysis I have carried out to advise investors in DY, I would say that Plastic787’s analysis is absolutely spot on.

Last year the airline made NOK 1.3bn during Q3, which was swallowed up halfway through Q4. Since then they have issued more shares, sold off assets and effectively defaulted on a huge loan, putting up their LGW slots as security in return for an extension. I am willing to bet the bondholders had no choice.

Despite their proclamations about turning the company around and morphing dramatically from growth to profitability, Q1 and Q2 seat costs are around 20% higher than 2018.

Summer 2019 passengers and revenues have been broadly flat in July and August and so unless there has been a dramatic reduction in the seat cost trend it is likely Q3 will not make anywhere near the profit of Q3 2018.

If this comes to pass (we should find out next week), it will be a very tough Winter. I hope I am wrong but I don’t see a rosy future for this airline, just based on figures and trends I have analysed recently,


Analyze this

https://www.reuters.com/article/us-norwegianair-leasing/norwegian-air-secures-airbus-fleet-deal-earnings-top-forecast-idUSKBN1X30CX?il=0

[SaulGoodman]

Analyze this

https://www.reuters.com/article/us-norwegianair-leasing/norwegian-air-secures-airbus-fleet-deal-earnings-top-forecast-idUSKBN1X30CX?il=0

what is there to analyze?

that they have found an investor willing to buy 27 A320NEO’s? Hardly any risk involved for the leasing company.

[dirk85]

So basically Norwegian is either selling or offering as security any valuable asset they have in order to survive and/or delaying repaying their huge debt.
Yep, that sounds like a proper, sound business model.

[directmisbi]

So basically Norwegian is either selling or offering as security any valuable asset they have in order to survive and/or delaying repaying their huge debt.
Yep, that sounds like a proper, sound business model.

Where does it say “selling” or “offering as security” in the article.

Apart from the joint venture, and perhaps more importantly , the underlying business is improving with the best ever quarterly result for Norwegian. US market now biggest in terms of revenue and with the new cooperation agreement with JetBlue more to come im sure. After all the EasyJet cooperation fills up two dreamliners out of LGW alone, each and every day.

[Speedbrakes Up]

Of course they are going to save money, they are selling off assets, closing bases, cutting routes, and asking staff to take unpaid leave and part time.
Also it is the summer season I do hope an airline makes money in the peak season.

The article clearly states the new chinese investment group will take ownership of the airbus deal, and Artic aviation assets are set to make $10 million from each sale!

[directmisbi]

Of course they are going to save money, they are selling off assets, closing bases, cutting routes, and asking staff to take unpaid leave and part time.
Also it is the summer season I do hope an airline makes money in the peak season.

The article clearly states the new chinese investment group will take ownership of the airbus deal, and Artic aviation assets are set to make $10 million from each sale!Unit costs continue to fall as unit revenues increase, which is fully in line with what the company has previously guided. Ancillary revenue per passenger is up 11%, but here Norwegian has more to go, the company is still at the low end of this revenue stream, which is just under 20% of total revenue. Many of the low cost competitors have 25-45% of ancillary revenue.

JV with a Chinese bank is now in place and 27 A320neo will initially enter the leasing company, where Norwegian will own 30% and CCB Leasing (owned by China Construction Bank) will have the remaining 70%. The JV agreement will reduce the financial obligations to Norwegian by NOK 13.7 billion in the first place.

The focus on profitability continues through FOCUS 2019 and the new Next program, which will contribute at least NOK 4 billion at the EBITDAR level in 2021.

[plumponpies]

directmisbi - You’re wasting your time mate arguing with these armchair experts.
Each has an obvious axe to grind with the company, let them have their little moments.
These keyboard warriors have no credentials when it comes to airline management, if they did they wouldn’t be spouting their s*#@ on here, they’d be running their own.

[directmisbi]

directmisbi - You’re wasting your time mate arguing with these armchair experts.
Each has an obvious axe to grind with the company, let them have their little moments.
These keyboard warriors have no credentials when it comes to airline management, if they did they wouldn’t be spouting their s*#@ on here, they’d be running their own.

Thanks plumponpies 😂

[Doors to Automatic]

Seat Costs were pretty much as expected in Q3. Seat Revenues were a little higher than I thought they would be so hands up there. Asset sales carry on with gusto. And those bonds will still require repaying before we know it.

All they have done is delay the inevitable IMHO. It is not beyond impossible that they will turn it around, but I would still be surprised.

[Meester proach]

Seat Costs were pretty much as expected in Q3. Seat Revenues were a little higher than I thought they would be so hands up there. Asset sales carry on with gusto. And those bonds will still require repaying before we know it.

All they have done is delay the inevitable IMHO. It is not beyond impossible that they will turn it around, but I would still be surprised.


Try and be positive - the last thing Europe needs is another airline failure.
Should change your username to “ vulture “

[directmisbi]

Well worth a read :

https://skift.com/2019/10/24/norwegian-air-just-might-have-found-a-way-to-save-itself/?fbclid=IwAR03Q0VrAOLUTFC0KyMdjS2OYDZxDiZYp3YM9Y90BGbo2rgqaP iN2tEJo-k

[BluSdUp]

According to DN.no, Dagens Næringsliv, Norwegian is expanding stocks and loans to the tune of 2.8 Billion Nkr or ca 280 million euro.
Sissner and other lenders happy with progress in revenue.
They fly less and earn more. Looking better every day I figure and a good chance of making it trough the winter.

Regards
Cpt B

[tprop]

They also lost the large contract they had with the Norwegian Armed Forces, to the tune of 300.000+ passengers a year.

[babemagnet]

Dear Pilots:

Due to the seasonality that we will face in the 2019 winter season, in addition to the current MAX and 787 fleet status, we have identified a surplus of pilots from 1st of December 2019 until the end of March 2020 in the Spanish bases. As a result of this, the company needs to adapt resources and adjust them to the actual demand.

There are different options outlined in the link provided are available for all pilot positions from 1st of December to 31st of March.

We ask that you review the below options thoroughly and take the opportunity to consider one of the options to assist us in reaching a sustainable programme throughout this coming winter. All processes presented will be dependent upon a reached agreement with SEPLA. In the event of no agreement being reached, the company will reach out to you individually to confirm the updated terms.

In the voluntary options presented, every part-time position will have a 10% incentive in salary. The effect would be applied as follows:
70% part time, paid 80%
60% part time, paid 70%
50% part time, paid 60%

Those who choose the option for 100% ERTE will be provided with a monthly incentive, per rank, as follows:
100% ERTE CPT, paid 1500€ per month
100% ERTE RCA, paid 1250€ per month
100% ERTE FO, paid 1000€ per month

VOLUNTARY OPTIONS WILL ONLY BE APPLICABLE FOR THE ENTIRE PERIOD 1ST DEC TO 31ST MAR.


Assignments will be done by Base | Fleet | Rank/Category, according to seniority.

DEADLINE: All bids must be submitted by Thursday, November 14th by 15.00.

All participation is considered voluntary in nature, however, if you choose to submit one of the options provided this will be binding. Those whom have been awarded a base change due to the MAD closure, will have their part-time award combined with their transfer to new base.


In the event we do not meet the required reductions in FTE’s, the Company will need to apply forced ERTE process per Base | Rank | Fleet.

The effect of the forced ERTE Process will then be distributed to the non-voluntary pilots as follows:
70% part time, paid 75%
60% part time, paid 65%
50% part time, paid 55%


This is the Company’s target maximum reduction; however, this will be dependent on the number of voluntary reductions we receive in this bidding.


Bids communicated outside of this link will not be considered as part of this process.



Best Regards

Manpower Planning

[GIVSP]

Did Norwegian lay off all OSM pilots from their FLL base this time last year?
I hadn’t read anything about this US pilot staffed base closure.
Why?

[zon3]

As a result of negociations between OSM and the pilot union, all HEL based Norwegian pilots will be temporarily laid off. One week unpaid leave per month during Jan-Apr 2020. Approx. 75% work, 80% pay. Please Mr Boeing, fix my MAX! :sad: