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.

Norwegian is 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 traveling.

The government of Norway today announced that Norwegian will not receive further financial support, which Norwegian had clearly communicated was necessary to maintain operations throughout the Covid-19 crisis.

Norwegian’s traffic figures for October are heavily influenced by lower demand caused by continued travel restrictions across Europe, with several new red zones.

Norwegian has been named Europe’s Leading Low-Cost Airline 2020 for the sixth consecutive year at the 27th annual World Travel Awards, one of the travel industry's most prestigious awards. The awards were established in 1993 to acknowledge, reward and celebrate excellence across all key sectors of the travel industry and they are recognized globally as the ultimate hallmark of industry excellence.

Norwegian’s traffic figures for September are heavily influenced by lower demand caused by new and stricter travel restrictions across Europe.

Norwegian has launched a new environmental sustainability strategy that will begin immediately and deliver several industry leading targets. Cutting CO2 emissions by 45 percent, remove all non-recyclable plastics and recycle all single-use plastics are key commitments in the new strategy. The goal is in line with the 1.5°C (2.7°F) target set forth in the Paris Agreement.

Norwegian’s traffic figures for August are heavily influenced by the COVID-19 outbreak and the subsequent travel restrictions and drop in demand. In August, capacity was 94% lower than last year, while the flights that were operated had a load factor of 62.1%.

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.