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You think they all found jobs elsewhere ??
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Thread first started on Sept 2019 and here we are a full year later........
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Originally Posted by Meester proach
(Post 10876799)
You think they all found jobs elsewhere ??
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Is there even a market ? I doubt it unless your thinking about 5 years hence
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Not really no. But that's not the question you asked me.
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Ok, so in total from those already left and those who remain, would be near 3000
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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. |
Originally Posted by SWBKCB
(Post 10875353)
and where's the market for them?
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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." |
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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There’s a risk of any airline going “boom” right now.
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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 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. |
So much for, “We’re all in this together Red Nose Warriors!”
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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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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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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 |
Kjos has said he can’t remember the bonuses doled out before Norwegian Air reported huge losses for 2019. |
Their stock price has fallen form 4 euros to .083 so pretty much worthless. It helps the Norwegian Govt extended the loan scheme until Feb 2021 but based on predicted revenues they will still run out of cash this year. LH program from LGW will be slashed
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Source ? Or do you just make up your predictions
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0.93 NOK and at 11 to 1€, that makes it about .084 on my calculator. https://www.bloomberg.com/quote/NAS:NO
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