Shareholders approve Norwegian rescue plan
Norwegian Airlines has been rescued from bankruptcy for the time being. Last weekend shareholders agreed to the proposed rescue plan. With this rescue plan 95% of the debts were converted into shares. CEO of Norwegian, Jacob Schram, spoke of a huge relief. Norwegian Airlines can look ahead.
Flights resumed in 2021
Norwegian Airlines expects that flights can only be resumed next April at the earliest. It will not be possible to fly at complete capacity again until 2022. This will happen with fewer aircrafts and fewer destinations. There will be a major reorganization before Norwegian will be back in the air. Norwegian Airlines will first focus on Scandinavia and will mainly fly within Europe.
Norwegian has 168 aircrafts of which 7 are currently still flying. The flights still being operated are domestic flights paid for by the Norwegian government. Norwegian Airlines is expected to reduce its fleet to 110 aircrafts by 2021.
(c) Photo: Norwegian Airlines