Airlines around the globe are fighting for survival at the moment. Even the (previously) most profitable airlines are struggling, while those that were on the brink of liquidation going into this are in an even worse position (except Alitalia, because that airline has more lives than a cat). From South African Airways to Virgin Australia,…
Continue reading: Norwegian Air Subsidiaries File For Bankruptcy
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This was due to the fact that they cannot lay-off their staff in Denmark or Sweden efficiently; they had to terminate the local operations.
Norwegian continues to "operate" in Finland and they have been able to lay-off the staff; the staff is receiving normal Covid-19-inspired unemployment benefits.
I understand why keeping staff in Norway -as the Norwegian government will pay the staff salary during the furlough- however not sure why Norwegian kept France and Italy staff?
Does France and Italy have small transatlantic operations/staff and Norwegian want to keep a crew skeleton crew ready in case they fly again soon? Not sure ....
Living in Seattle, I will miss their non-stop flight to London. For about $200 more than just the taxes on a BA award ticket, you'd get a totally fine (for a daytime flight) premium economy seat. I'd even say if you're not going to sleep, it was nicer than the 8 across BA business and you didn't have to be beholden to award availability.
At least they won’t be needing all those parked maxes. But Norwegian have had terrible luck when it came to their reliance on 737 max and 787 engine faults. What will happen to all the almost new 737 Max, now that demand is so much lower?
Who would have thought in early 2018 many of the brand new Max might never fly again.
If Norwegian gets through this I will be shocked. They'll have some of the most lenient creditors in the world if they choose to accept the current deal of making the entire airline worthless just to raise enough equity.
If they do not make it who will assume the 60bNOK in credit losses assuming that there will be no buyers for there -800 s ? Pensioners ?
So what does this mean for those of us waiting for refunds on canceled flights? I charged it on my CSR.
What many 'stop the bailout' want to see happen with airlines.