New management structure in Norwegian
CEO Jacob Schram today announces the new management structure in Norwegian. The biggest changes involve two distinct commercial units in the Group, greater employee and customer focus, more efficient operation and, not least, an organization that facilitates broad cooperation across the business.
Norwegian finalises recapitalisation and secures state aid
Norwegian confirms that the restructuring is completed and that the state loan guarantee of in total NOK 3 billion has been approved. The company has now converted NOK 12.7 billion of debt to equity and laid a solid foundation for the future, although the next months will remain challenging.
Norwegian’s pilot and cabin crew companies in Sweden and Denmark file for bankruptcy
The pilots and cabin crew in Scandinavia are employed in subsidiaries in the Norwegian Group. Unfortunately, despite the measures that the company has already taken to reduce costs, the Board of these companies are left with no choice but to apply for bankruptcy.
Norwegian crew support well-being of frontline UK hospital staff during COVID-19 outbreak
Airline Crew from across the industry have come together to form Project Wingman to support the well-being of frontline NHS staff during the COVID-19 outbreak.
Norwegian Air Shuttle ASA (NAS) - Notice of extraordinary general meeting
Norwegian Air Shuttle ASA (NAS) – Norwegian aims to strengthen its balance sheet by converting debt to equity to meet the requirements of the Norwegian state guarantee program and create a sustainable platform taking into account current shareholders and creditors alike.
Norwegian March traffic figures heavily influenced by COVID-19 measures
The global outbreak of COVID-19 that took hold across the aviation industry throughout March has heavily influenced Norwegian´s traffic figures. The company experienced a dramatic drop in demand following government-imposed travel restrictions and a general travel decline.
Norwegian fulfils criteria for initial NOK 300 million in guarantee from the Norwegian Government
Norwegian is pleased to announce that two Nordic banks have obtained credit committee approval to provide a guarantee for the required 10 percent for the first tranche of NOK 300 million. Norwegian will secure the necessary headroom to pursue further guarantees from the Norwegian Government.
Norwegian to cancel 85 percent of its flights and temporarily layoff approximately 7,300 colleagues
The COVID-19 situation is escalating by the hour and due to stagnating demand and enforced travel restrictions by authorities worldwide, Norwegian will gradually cancel most of its flights and temporarily lay off a major share of its workforce.
Corona crisis: Norwegian positive to the government’s tax cut – further measures with immediate liquidity effect are crucial
The company is continuously working to reduce costs even further. However, the corona crisis has now led to the need of powerful and extraordinary measures from the government.
Norwegian to suspend more than 4000 flights and implement layoffs
Following the U.S. ban on travel from most of Europe and the escalating coronavirus situation, Norwegian has decided to ground 40 percent of its long-haul fleet and cancel up to 25 percent of its short-haul flights until the end of May. The changes apply to the company’s entire route network.
Norwegian to cancel approximately 3000 flights and implement temporary layoffs due to the effects of COVID-19
Due to the COVID-19 situation, Norwegian is preparing to cancel approximately 3000 flights between mid-March and mid-June. This represents approximately 15 percent of the total capacity for this period. The company has also put several other measures in place, including temporary layoffs of a significant share of its workforce.
Norwegian reports higher unit revenue and improved punctuality in February
Norwegian’s traffic figures for February show that the company continues to deliver on its strategy of moving from growth to profitability, with significant improvements in unit revenue and a better punctuality. Due to the COVID-19 virus Norwegian currently experiences reduced demand on some routes and have decided to cancel 22 flights between Europe and the U.S.