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Hard times for Norwegian

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Hard times for Norwegian

Old 2nd Sep 2020, 07:53
  #781 (permalink)  
 
Join Date: Oct 2019
Location: SW1A 2AA
Posts: 64
I’ve been through this. There is no way that Norwegian can survive this winter. Riddled with debt and no product to sell.

Let’s see who pops up next to revolutionise low cost long haul.....
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Old 2nd Sep 2020, 10:05
  #782 (permalink)  
 
Join Date: Dec 2014
Location: Uk
Posts: 102
It’s been said before, but thanks for your kind wishes.

If I was also in aviation I’d be hoping 3000 737/787 experienced pilots were not dumped on the market .
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Old 2nd Sep 2020, 10:30
  #783 (permalink)  
 
Join Date: Jun 2016
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Don't think there are 3000 pilots left in Norwegian.
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Old 2nd Sep 2020, 12:28
  #784 (permalink)  
 
Join Date: Dec 2014
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You think they all found jobs elsewhere ??
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Old 2nd Sep 2020, 14:16
  #785 (permalink)  
 
Join Date: Nov 2000
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Thread first started on Sept 2019 and here we are a full year later........
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Old 2nd Sep 2020, 15:07
  #786 (permalink)  
 
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Originally Posted by Meester proach View Post
You think they all found jobs elsewhere ??
No, they are already on the market.
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Old 2nd Sep 2020, 16:19
  #787 (permalink)  
 
Join Date: Dec 2014
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Is there even a market ? I doubt it unless your thinking about 5 years hence
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Old 2nd Sep 2020, 16:43
  #788 (permalink)  
 
Join Date: Jun 2016
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Not really no. But that's not the question you asked me.
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Old 2nd Sep 2020, 18:09
  #789 (permalink)  
 
Join Date: Dec 2014
Location: Uk
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Ok, so in total from those already left and those who remain, would be near 3000
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Old 2nd Sep 2020, 18:18
  #790 (permalink)  
 
Join Date: Jul 2013
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There is many airlines around the world that will go bankrupt during incoming winter unless they get money from the outside (etc. state aid, cash injections by owners...)
Norwegian is obviously one of those and it's not a secret as Schram talked about it openly few days ago.
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Old 6th Sep 2020, 01:54
  #791 (permalink)  
 
Join Date: Dec 2008
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Originally Posted by SWBKCB View Post
and where's the market for them?
should have converted them into freighters and get into the cargo business and have a low-cost cargo division
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Old 6th Sep 2020, 09:42
  #792 (permalink)  
 
Join Date: Nov 2002
Location: Dublin
Posts: 542
The traffic figures for August reflect the state of uncertainty in the industry:
https://media.uk.norwegian.com/press...demand-3031945
As the CEO constantly points out they need liquid cash to keep going, the LH flights from UK are available from early Dec but take up is pretty non-existent as the boarders are closed and travel insurance/ credit card claw back won't cover if you book to a "closed destination" knowing that at the time. If Trump gets his act together and opens USA up they may have a chance, otherwise LGW LH will be much delayed, having said that, its doubtful the company would want to bleed cash into non profit making routes, as pointed out again by CEO :"and concentrate supply in line with demand."
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Old 6th Sep 2020, 13:14
  #793 (permalink)  
 
Join Date: Apr 2009
Location: UK
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Of course it would have nothing to do with savvy consumers being unwilling to give Norwegian their hard earned cash in advance when there is a risk of them going boom??
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Old 6th Sep 2020, 19:35
  #794 (permalink)  
 
Join Date: May 2016
Location: The EU
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There’s a risk of any airline going “boom” right now.
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Old 16th Sep 2020, 09:43
  #795 (permalink)  
 
Join Date: Nov 2002
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“With such a bad summer as we’ve had this year, we don’t have the financial muscle to get through the winter,” Norwegian Air’s chief executive, Jacob Schram, told newspaper Dagens Næringsliv (DN
But: Maybe the former CEO and Execs could help bail out? moral compass drift off the scale one thinks!
Bonus party over
Norwegian’s part of the requested bailout comes just after DN reported on bonuses paid to top Norwegian Air executives last year, just before the long-troubled airline’s founder and former CEO Bjørn Kjos stepped down. Kjos’ massive intercontinental expansion plan ended up leaving the airline with troubled aircraft from Seattle-based Boeing and huge debt. Kjos reportedly nonetheless approved bonuses of between NOK 2 million and NOK 6 million to four members of management, while also paying sky-high fees to external consultants.

The bonuses were paid out several months before the Corona crisis hit, and new CEO Schram has stressed that the days of such high extraordinary pay are over, but it’s all provoked labour unions at a time of massive layoffs. Newspaper Dagsavisen editorialized on Monday that all the talk about “solidarity” among management and workers at Norwegian Air loses credibility in the face of such high pay for a few leaders. Kjos has said he can’t remember the bonuses doled out before Norwegian Air reported huge losses for 2019.
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Old 16th Sep 2020, 18:03
  #796 (permalink)  
 
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So much for, “We’re all in this together Red Nose Warriors!”
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Old 24th Sep 2020, 23:11
  #797 (permalink)  
 
Join Date: Aug 2017
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The booking levels to the US are a bit miserable to say the least but there is demand, there was even talk of using a 737 to restart JFK with a 100 passenger limit, but APD killed it anyway
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Old 25th Sep 2020, 10:09
  #798 (permalink)  
 
Join Date: Sep 2020
Location: Salisbury, Wiltshire
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Do Norwegian’s 737s now belong to them, as in the company, or are they still leased from a third party? I’ve been following this thread for a while and am still no clearer.
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Old 25th Sep 2020, 17:40
  #799 (permalink)  
 
Join Date: Dec 2014
Location: Uk
Posts: 102
EIFFS

That’s a shame but I expected it. I don’t think any thoughts of xmas market to JFK will be on without a miracle - we will have to see if they make it to the reboot in March
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Old 25th Sep 2020, 20:08
  #800 (permalink)  
 
Join Date: Apr 2003
Location: Northumberland
Posts: 5,309
Kjos has said he can’t remember the bonuses doled out before Norwegian Air reported huge losses for 2019.
Classic...
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