Norwegian’s fourth quarter results are heavily impacted by COVID-19 and travel restrictions
Norwegian today reported its fourth quarter results. As expected, the results were heavily impacted by COVID-19 and travel restrictions in all markets.
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Norwegian presents update of indicative plan for exit from Irish examinership and Norwegian reconstruction processes
The Company is working with the Examiner and the Reconstructor with a view to commencing the legal steps required to implement the proposed Restructuring, including the issuance of a scheme of arrangement by the Examiner as soon as possible, with a view to the Capital Raise commencing in late March/early April, with the subscription period in mid-April and target closing end of April.
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COVID-19 heavily influences Norwegian’s January traffic figures
Norwegian’s traffic figures for January are heavily influenced by lower demand caused by continued travel restrictions across Europe.
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Norwegian Air Shuttle ASA (NAS) - Presentation for creditors
Norwegian Air Shuttle has today published an updated presentation. The presentation is available at; https://newsweb.oslobors.no/message/523220
Kind Regards
Tore Østby
EVP Strategic Development and IR, Norwegian Air Shuttle ASA
E-mail: tore.ostby@norwegian.com
Oksenøyveien 3, 1330 Fornebu, Norway
Visit norwegian.com and follow us on Facebook. -
Norwegian appreciates support from the Norwegian Government
Norwegian is pleased to announce that the government of Norway has decided to support and contribute to the airline’s funding of new capital, pending certain conditions. This move significantly increases Norwegian’s chances of working through the crisis caused by the pandemic and to position itself as a key player within Norwegian and European aviation.
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Publication of listing prospectus
The NFSA has approved the Listing Prospectus which is available at the Company’s website, https://www.norwegian.no/om-oss/selskapet/investor-relations/. The Listing Prospectus has been prepared for the purpose of listing of the Perpetual Bonds and the Shares only, and no securities are being offered pursuant to the Listing Prospectus.
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Norwegian to focus on a strong European network
Norwegian’s Board of Directors has today outlined a simplified business structure and dedicated short haul route network. With this plan, Norwegian can build a robust and solid company that will attract investors and continue to serve new and existing customers.
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Norwegian’s traffic figures heavily impacted by COVID-19
Norwegian’s traffic figures for December are heavily influenced by lower demand caused by continued travel restrictions across Europe. However, Christmas bookings were positive.
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Norwegian initiates reorganisation process in Norway
Norwegian has today filed for a reconstruction under Norwegian law. This process will coexist with the Irish Examinership process.
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COVID-19 continues to impact Norwegian’s traffic figures
Norwegian’s traffic figures for November are heavily influenced by lower demand caused by continued travel restrictions across Europe. Christmas bookings look promising.
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Norwegian initiates a reorganisation plan with its daughter companies Norwegian Air International and Arctic Aviation Assets seeking protection under Irish Examinership
Norwegian Air Shuttle ASA (“Norwegian”) has decided to initiate an examinership process in Ireland relating to its subsidiary Norwegian Air International Limited (NAI), its wholly-owned asset company Arctic Aviation Assets DAC (AAA) and some of AAA’s subsidiaries; Norwegian will also enter in and get protection of the Irish Examinership process as a related party.
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Norwegian forced to furlough an additional 1,600 employees following the government’s decision not to give further support
Norwegian forced to furlough employees and reduce capacity considerably following the government’s decision to not support the company financially to get through the corona crisis while simultaneously imposing travel restrictions that actively discourage passengers from travelling. Norwegian needs to keep its running costs to a minimum, while the company continues to work on solutions to survive.
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