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Norwegian Air Shuttle ASA News Flashes

Norwegian Lay Off 1600 Employees After The Government Say No
Monday, 9 November 2020 22:55
The Norwegian government decided today that they are not giving another "krone" extra in support of Norwegian Airlines. The government justified this on the grounds that it entails too great risk. At the same time, additional support to Norwegian could distort competition and at the same time - there is no "prudent use" of taxpayers' money.vNorwegian therefore announced that they need to lay off another 1600 employees. From tomorrow, there will only be local Norwegian flights within Norway. 15 out of 21 planes will be parked from tomorrow

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Norwegian Air Shuttle risks bankruptcy in April 2021
Saturday, 17 October 2020 01:14
Following the pandemic, Norwegian Air has been experiencing a significant decline in its passengers. In August, the company experienced a 91% decline in its passenger volume. The decline has led to the need to secure a second round of financial restructuring. Failure to do so will cause it to run out of funds by the first quarter of next year. The funding is expected to come from the sale of some of the companys aircraft, and conversion of debt to equity. Unless Norwegian Air Shuttle manage to sell some aircrafts or secure extra funding, the company risks falling into bankruptcy in April 2021, unless a second round of financial restructuring takes place

NWARF

Uncertainty Over Norwegian Air Shuttle COVID-19 Recovery
Thursday, 28 May 2020 16:59
Norwegian Air Shuttle ASA on 28th May announced it was uncertain over how the COVID-19 pandemic would continue developing. It also noted it was unsure of when the company, and the airline industry, in general, would return to its previous baseline levels. Shares in Norwegian Air traded 10% down in Norway, while there was zero trading volume in the US-listing. The budget carried, when releasing a trading update noted it had experienced a pre-tax loss in the Q1 of 2020 amounting to $331.7 million (3.28 billion Norwegian Kroner). This figure was from a loss of 1.98 billion NOK which was occasioned by a 19% revenue fall bringing the total earnings to 6.51 billion NOK...
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