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Hard times for Norwegian

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Hard times for Norwegian

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Old 11th Nov 2020, 06:53
  #861 (permalink)  
 
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are you actually serious? Is this actually happening?
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Old 11th Nov 2020, 10:38
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Serious indeed!

https://www.facebook.com/donate/4148...8740135647991/

Just reach into your wallet and pour those Dollars into the endless hole.
This Captain who initiated the fundraiser must be oblivious to the fact why Norwegian got in to this predicament in the first case and also desperate (?) enough to pay to get his job back.
Or maybe I just don't get people these days?
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Old 11th Nov 2020, 10:51
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Whoever is pouring money into that joke of a fund clearly have no self respect.
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Old 11th Nov 2020, 11:42
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I would be really careful there.

Maybe it is really a serious fund, honestly willing to support Norwegian, well 85.000.000 USD - wow - a bit far off reality. But okay.
But there is at least the possibility of a risk, that this guy just wants fill his pockets by taking advantage over the difficult situation the employees (or even colleagues) of Norwegian currently are.
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Old 11th Nov 2020, 12:09
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Think it will take more than one person to save Norwegian, how can people who donated money in there be so naive?
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Old 11th Nov 2020, 12:34
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it is all relative, according the FB funding stats, they try to get 85 millions EUR in the next 44 days . they got 82 replies and 2500 euros so far , so 30 eur per person on average , at this rate to get to their 85 M they would need to convince 3 million people
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Old 11th Nov 2020, 12:46
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where does it stop, assuming Norwegian survive this person will next suggest to the blind followers:-

Lets all pay our hotel rooms ourselves and taxis to and from the airport

as a bonus let’s also pay the fuel we uplift too.
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Old 11th Nov 2020, 13:57
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Getting worse

Norwegian Suspends Passenger Refunds & Reports 1B NOK Loss For The Third Quarter
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Old 11th Nov 2020, 15:38
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Well if they are really unable to pay obligations, it would require them to file for bankruptcy right now or at least within a short period of time.
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Old 11th Nov 2020, 16:35
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The bit I do not quite understand is the role of Wizzair in that . I know Norway is not in the EU so why is a Hungarian airline now operating domestic flights in there ? Was that the reason the Norwegian government refused to further bail them out ?
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Old 11th Nov 2020, 17:29
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One can only speculate for the reason why they "refused", I would chose to use the word "declined" instead.
They probably got to see some of their books and saw that what ever the airline is saying is not deemed to be realistic.

Edit:

At this point in time it is a overstatement to say that Norwegian is critical to the Norwegian infrastructure. That argument is not valid.
They have SAS (who is being held under the arms by the Swedish and Danish state, and partly by subsidised routes in Norway)
Wideroe, and now also Wizz Air to keep the prices down. Oh, and a new start up with one of the Braathens family members.
Why would they dump money into Norwegian?
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Old 11th Nov 2020, 17:40
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Norway is not in the EU, but a full member in the single market which does include aviation, therefore any EU airline could offer domestic flights if it wanted, same as Norwegian could do domestic flights in the EU. That is unlike switzerland which is not a full member of the EU aviation agreements.
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Old 11th Nov 2020, 18:20
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decoded and Denti thanks or the explanations .Got it.
I just read elsewhere that Wideroe is the only European airline to fly at nearly the same capacity as in 2019 ( only minus 3% last week. ) Norwegian air shuttle is minus 65% and SAS at minus 78%, both in line with the vast majority of the rest of the majors.
So SAS has the capacity to take over the Norwegian shuttle routes , which they mostly shared with them anyway. The fares likely to go up, I agree , but let's get real , is that really a bad thing at the moment ?
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Old 11th Nov 2020, 18:23
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Norwegian have dodged many a bullet in the past and whilst they were in a hole pre covid there was a path out that looked possible, few doubt that it was a good product and a good company to work for, I did 8 years, pay always on time, whether that be Conair, Arpi, NAS, OSM, we all knew cost control was a joke, day off money often £1500 a day (double day off payments) often for days on end.

Its only hope is the Norwegian government for whom it would be petty cash with a trillion £ sovereign wealth fund, but you'd have to ask why, cheaper to start from scratch SAS prices will go through the roof.
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Old 11th Nov 2020, 18:31
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dcoded

Who said the Norwegian politicians “declined”? The government did, but please do remember that Norway is presently ruled by a minority government, and last time I checked, Norway is still a democracy, and watching this evening news in Norway, this is far, far from over. The opposition are up in arms, and busy forming a coalition in order to save Norwegian. As far as I can gather, the majority of political parties are now willing to go in and save Norwegian. 2021 is also election year, and the Norwegian people love their local airline.
Things can quickly turn around for Norwegian : A vaccine should be available early 2021, the max is about to be recertified and the Boeing billion dollar compensation$$$ ?

Last edited by uncle-traveling-matt; 11th Nov 2020 at 19:07.
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Old 11th Nov 2020, 18:32
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Best article I have read so far:

https://www.nettavisen.no/okonomi/pa...424045532.html
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Old 12th Nov 2020, 07:33
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Another interesting article, especially the last part, talking about saving only the Norwegian part of the company:

https://www.nettavisen.no/okonomi/se...424045855.htmlThe Center Party has already tried to get the FRP and the Labor Party to join a joint crisis package without success, but now Arnstad is coming up with two concrete proposals that she will put forward in the Storting.

She asks party leaders to quickly clarify whether they want to support them:

- One is that we will ask the government to present the same type of support scheme that they have given to the rest of the business community, to the aviation industry. The second is that we believe it is necessary to have a new dialogue with Norwegian to save the Norwegian part of the company, ie the air routes in Norway and the Norwegian workplaces, Arnstad says to NTB.
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Old 12th Nov 2020, 10:03
  #878 (permalink)  
 
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The Scandi part alone generated more than 20 billion kr in yearly revenue, so I dont see them confined to Norway only. Retrench to Scandi bases with a 100 frames, fortify and build from there. The rest will follow. The politicians are debating as we speak...
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Old 12th Nov 2020, 10:14
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And for that you need money from the Norwegian government who is only willing to save the Norwegian part of the company
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Old 12th Nov 2020, 13:27
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Selling 100kr notes for 50kr will generate plenty of revenue, but a viable business it does not make!
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