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Topic

Norwegian Air

Budget airline Wizz Air quits Norway's domestic market

Budget airline Wizz Air quits Norway's domestic market

Updated 29 May, 2021 06:47pm
  • The news comes just days after Norway's Norwegian Air was rescued from bankruptcy following a six-month court-led restructuring.
  • Shortly after launching its domestic operation in Norway last October, Wizz had said it planned to expand the service.
Norwegian Air expects $840mn cash position post capital hike

Norwegian Air expects $840mn cash position post capital hike

Published 03 May, 2021 07:39pm
  • The cash will come from a mix of perpetual bonds and equity, with the new shares sold at only 6.26 crowns each, a steep discount to the 55.25 crowns it trades at in Oslo.
  • The airline said it expects total liabilities to be around 16 billion to 18 billion Norwegian crowns, of which about a third is aircraft-related debt, after the process is completed.
Norwegian Air to raise more money than planned, CEO says

Norwegian Air to raise more money than planned, CEO says

Published 14 Apr, 2021 12:08pm
  • Financed largely by debt, Norwegian Air grew rapidly, serving routes across Europe and flying to North and South America, Southeast Asia and the Middle East before the COVID-19 pandemic plunged the airline into crisis.
Norwegian Air says Boeing dispute to be decided in US court

Norwegian Air says Boeing dispute to be decided in US court

Published 05 Mar, 2021 09:45pm
  • Norwegian Air asked Ireland's High Court to issue repudiation orders for three sales contracts with Boeing, but lawyer Declan Murphy said this was not intended to take precedence over ongoing US legal action on the contracts.
Norwegian Air says restructuring progressing as planned

Norwegian Air says restructuring progressing as planned

Published 26 Feb, 2021 11:38am
  • The budget airline was late last year given protection from bankruptcy in both Norway and Ireland, where most of its assets are registered, and is aiming to emerge from the process with fewer aircraft and less debt.
Norway plans Norwegian Air loan in extra pandemic spending plan

Norway plans Norwegian Air loan in extra pandemic spending plan

Published 29 Jan, 2021 05:25pm
  • Norways's government said last week it would back Norwegian , which aims to emerge from court-ordered bankruptcy protection as a slimmed-down carrier focused primarily on the Nordic region.
  • The government said on Friday the amount earmarked for the airline was in line with what Norwegian had asked for.
Irish court grants extension to Norwegian Air's debt restructuring

Irish court grants extension to Norwegian Air's debt restructuring

Published 22 Jan, 2021 07:18pm
  • The extension to Feb. 25 was granted after a lawyer representing the Irish examiner told the court that the examiner believed the budget carrier had a reasonable prospect of survival.
  • I will grant that application and extend the time for reporting... to the 25th of February.
Norway ready to help save Norwegian Air

Norway ready to help save Norwegian Air

Published 21 Jan, 2021 05:13pm
  • Norwegian, Europe's third largest low-cost airline until the pandemic paralysed global air transport last year, has seen its debt and losses pile up since 2017.
Low-cost Norwegian Air Shuttle drops long-haul

Low-cost Norwegian Air Shuttle drops long-haul

Published 14 Jan, 2021 05:38pm
  • The company has been placed under bankruptcy protection in Ireland and Norway to shield it from creditors while it tries to come up with a financial restructuring plan.
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