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Originally Posted by SaulGoodman
(Post 10712105)
What do they mean with “their workforce”? Is it 50% of the direct employed or are contractors also in this figure?
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Originally Posted by SaulGoodman
(Post 10712105)
What do they mean with “their workforce”? Is it 50% of the direct employed or are contractors also in this figure?
All employees are employed locally, and enjoy local terms and conditions according to the country where they are based. I made more money in my last year as a FO, than some of BA’s first-second-third year captains. Cut the yankee propaganda, its getting very tiredsome. Thanks for the support in here and to all the haters :Norwegian will prevail, more news to follow later today. |
I worked for Norwegian and was one of the crew terminated due to the demise of the Max . The process was handled decently and the folks in NAI are a great bunch of people . I hope Norwegian pull through this crisis . Its grim times for everyone in this industry with the possible exception of the Freight Dogs .
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From the press release above in respect of EU/U.S. cancellations:
"Our goal is to reroute as many of our customers as possible through London" Hopefully this just means U.S. citizens otherwise it's a 2 week transit in London? |
Originally Posted by Max Tow
(Post 10712194)
From the press release above in respect of EU/U.S. cancellations:
"Our goal is to reroute as many of our customers as possible through London" Hopefully this just means U.S. citizens otherwise it's a 2 week transit in London? |
Originally Posted by uncle-traveling-matt
(Post 10712151)
All employees are employed locally, and enjoy local terms and conditions according to the country where they are based. I made more money in my last year as a FO, than some of BA’s first-second-third year captains.
Cut the yankee propaganda, its getting very tiredsome. Thanks for the support in here and to all the haters :Norwegian will prevail, more news to follow later today. CEO says it will be a matter of weeks before the airline fails unless the Norwegian government extends them a huge credit. The way they set up this company, mainly to avoid taxes to the very country they now turn to for help, may be a big obstacle. |
Originally Posted by ManaAdaSystem
(Post 10713021)
Everybody loves an optimist, but the package today will not keep them in the air.
CEO says it will be a matter of weeks before the airline fails unless the Norwegian government extends them a huge credit. The way they set up this company, mainly to avoid taxes to the very country they now turn to for help, may be a big obstacle. From Wikipedia Labour relations Between 2011 and 2013, Norwegian Air Shuttle (NAS) received criticism regarding its treatment of employees. The media first reported NAS's announced intention to open a base in Helsinki, from where it hired pilots on short-term contracts in Estonia rather than as employees within the company. The Norwegian tax-office authorities reportedly suspected in August 2012 that many Norwegian citizens were working for NAS on these contracts and not paying Norwegian taxes, despite operating on flights originating from Norway.]The Norwegian Pilot's Union (NPU) brought NAS to court over the short-term contracts. Then-CEO Bjørn Kjos appeared to inflame matters when he declared that NAS would no longer hire employees on Norwegian terms. In 2012, NAS started to use contract-employed pilots on routes within Scandinavia, considered by the NPU to be an abrogation of labor terms regarding non-Scandinavian pilots on routes within Scandinavia. The NPU soon after sued NAS. In October 2013, the NPU announced its intention to strike because NAS had forced its pilots to face dismissal or transfer to Norwegian Air Norway or Norwegian Air Resources AB, both subsidiaries of NAS; the respective subsidiary would then hire the pilots back to NAS. The NPU and its Swedish counterpart SPF accused NAS of using this ploy to break the solidarity and organisation of the pilots, with the eventual goal of coercing pilots to convert their jobs to contract positions. In mid-December 2013, NAS demanded that its Swedish non-contract flight attendants transfer to Proffice Aviation, an external staffing company, or face dismissal. According to the Swedish cabin-crew union, Unionen, it managed to save the jobs of 53 NAS employees, but it was dissatisfied with the direction NAS had taken. The situation led to the leader for the Swedish Left Party, Jonas Sjöstedt, to state that stricter regulation was needed for the use of staffing-companies in Sweden. |
Not a bail out. Increases liquidity in the short term to continue to operate in these circumstances. every company will likely need this
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Originally Posted by golfyankeesierra
(Post 10714475)
It sure is hypocritical to turn to Norwegian government for help.
From Wikipedia |
Originally Posted by Lionel Lion
(Post 10714737)
Not a bail out. Increases liquidity in the short term to continue to operate in these circumstances. every company will likely need this
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Can we get the thread back on track, please. Yes, I realize that most people who were rejoicing of the (perceived) thought of Norwegians demise, are probably in deep poo themselves right now, but just sharing great news from Norway.
Norway will offer companies at least 100 billion Norwegian crowns ($9.7 billion) in funding in the form of guarantees for loans and bond issues to support the economy during the coronavirus outbreak, the government said on Sunday. “The government will do what’s needed and spend the necessary funds to secure the Norwegian economy and support Norwegian businesses, big and small,” Prime Minister Erna Solberg told a news conference. The Nordic country invoked emergency powers on Thursday to close a wide range of public and private institutions, including schools and restaurants, in a bid to combat the spread of coronavirus. The business support package was divided into loan guarantees of 50 billion crowns to small and medium sized companies seeking bank loans, and the same amount in the form of government guarantees to large firms issuing corporate bonds. In addition, payments of payroll taxes will be postponed, the government added. Further measures for industries that have been particularly hard hit will also be presented at a later time, Finance Minister Jan Tore Sanner said. |
Let's stick to the topic which is Norwegian Airlines!
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Great news from Norway, I hope other governments react rather quickly in the same way.
Nice to see the Norwegian bases in Norway will be protected. |
Originally Posted by uncle-traveling-matt
(Post 10715203)
“The government will do what’s needed and spend the necessary funds to secure the Norwegian economy and support Norwegian businesses, big and small,” Prime Minister Erna Solberg told a news conference.
She also added that, despite state aid, some bankruptcies are probably unavoidable. |
7300 staff on furlough, 85% of flights grounded.
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'However, I want to emphasize that this is temporary...'
Norwegian to cancel 85 percent of its flights and temporarily layoff approximately 7,300 colleaguesPress release • Mar 16, 2020 13:21 GMT“What our industry is now facing is unprecedented and critical as we are approaching a scenario where most of our airplanes will be temporarily grounded. Several governments in Europe have already said that they will do everything they can to ensure that their airlines can continue to fly when society returns to normalcy. We appreciate that the authorities of Norway have communicated that they will implement all necessary measures to protect aviation in Norway, consequently securing crucial infrastructure and jobs,” said CEO Jacob Schram of Norwegian. |
Terms apply yes, but this comes after several meetings between government officials, and Norwegians management. They wouldn't come up with these specific terms, if they knew Norwegian couldn't abide with them. This will cover them until june, if they need more money, they will get more. CEO looked very confident in his press conference after the governments announcement , and said "Norwegian will emerge from this, stronger than ever"
Im sure a restructured Norwegian will rise from the ashes of this corona nightmare. |
Financial newspapers in Norway beg to differ. They think it unlikely Norwegian will be able to fulfill the requirements for the aid package.
Circuit breaker just popped on NAS on the stock exchange. |
Same thing happened a few years ago when IAG bought some stock in Norwegian. Trading was suspended for a period.
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Originally Posted by tprop
(Post 10721262)
Financial newspapers in Norway beg to differ. They think it unlikely Norwegian will be able to fulfill the requirements for the aid package.
Circuit breaker just popped on NAS on the stock exchange. |
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