Articles tagged “norwegian”

Norwegian Air Gets Loan Guarantee Lifeline For an Additional Two Months

Norwegian Air Gets Loan Guarantee Lifeline For an Additional Two Months

Victoria Klesty, Reuters

Prayers answered. The Norwegian government listened to Norwegian Air's pleas that the airline needed more money to get through the pandemic. The money is geared to provide a buffer through the end of 2020, that is.

1 month ago

Norway Approves New Law That Could Help Rescue Norwegian Air

Norway Approves New Law That Could Help Rescue Norwegian Air

Victoria Klesty, Reuters

The new legislation might relax regulations around debt negotiations, but the airline will still need to win over bondholders and shareholders ahead of May 4 when it outlines its rescue proposal.

6 months ago

Norwegian Air Secures Initial $26.6 Million From Government Rescue Package

Norwegian Air Secures Initial $26.6 Million From Government Rescue Package

Reuters

There'll need to be much more money where this comes from if Norwegian is to survive the coronavirus crisis.

7 months ago

Will Government Support be Enough to Keep Norwegian Air Going?

Will Government Support be Enough to Keep Norwegian Air Going?

Victoria Klesty, Reuters

It sounds generous, but Norwegian probably needs more help. As one analyst noted, getting creditors onboard in the current circumstances may prove impossible.

7 months ago

Dire Case for Airlines Laid Out by Industry Trade Group

Dire Case for Airlines Laid Out by Industry Trade Group

Patrick Whyte, Skift

Even the best-run airlines will eventually run out of cash if ticket sales dry up. Governments across the world are going to have to step in.

7 months ago

Norwegian Air to Lay Off Half Its Staff Temporarily and Scrap 4,000 Flights

Norwegian Air to Lay Off Half Its Staff Temporarily and Scrap 4,000 Flights

Terje Solsvik and Victoria Klesty, Reuters

In the short-term, we would be surprised if the Norwegian government allowed an immediate collapse of an airline buffeted by shocks beyond its control. But Norwegian Air will need all the savvy it has shown in the past if it is to thrive long-term.

7 months ago

Airline Industry Braces for $113 Billion Coronavirus Hit

Airline Industry Braces for $113 Billion Coronavirus Hit

Sarah Young and Aradhana Aravindan, Reuters

Flybe might be the first, but it probably won't be the last. Plenty of airlines across the world operate on pretty tight margins, which come under increasing pressure during times like this.

8 months ago

New Norwegian CEO Doesn’t Yet Have Answers to Low-Cost Long-Haul Profitability Problem

New Norwegian CEO Doesn’t Yet Have Answers to Low-Cost Long-Haul Profitability Problem

Patrick Whyte, Skift

Maybe it was a bit too much to expect some big strategic initiatives from such a new CEO, or maybe the airline is keeping them under wraps for now. But an airline with Norwegian's historic problems cannot tweak its way to viability.

8 months ago

Scandinavian Airline SAS Gets Good News — For Now — on Norwegian Route Changes

Scandinavian Airline SAS Gets Good News — For Now — on Norwegian Route Changes

Patrick Whyte, Skift

While Norwegian's decision to pull its long-haul routes out of Copenhagen and Stockholm is good news for SAS in the short term, it points to a bigger challenge in the long term.

11 months ago

Norwegian Taps Former JetBlue Exec in Management Reshuffle

Norwegian Taps Former JetBlue Exec in Management Reshuffle

Patrick Whyte, Skift

Another big news day for Norwegian. Given the focus on profitability, exiting the difficult domestic market in Argentina is not really surprising, but the appointment of Marty St. George is certainly a curveball.

11 months ago

Norwegian Air’s New CEO Sees First Priority As Returning to Profits

Norwegian Air’s New CEO Sees First Priority As Returning to Profits

Patrick Whyte, Skift

Interestingly, new Norwegian Air chief Jacob Schram has plenty of experience dealing with takeovers and mergers from his time in the retail trade. Might Norwegian want to tap this experience as part of future plans?

11 months ago

Argentina’s Low-Cost Airline Boom Under Threat From President-Elect

Argentina’s Low-Cost Airline Boom Under Threat From President-Elect

Carolina Millan, Jorgelina do Rosario and Fabiola Moura, Bloomberg

As we've seen elsewhere across the globe, policies that artificially prop up an incumbent flag carrier don't always work out well for consumers.

11 months ago