Norwegian initiates a reorganization plan with its daughter companies Norwegian Air International and Arctic Aviation Assets seeking protection under Irish Examinership
Press releases • Nov 18, 2020 10:40 EST
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 forced to furlough an additional 1,600 employees following the government’s decision not to give further support
Press releases • Nov 09, 2020 12:25 EST
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.
Press releases • Nov 09, 2020 06:30 EST
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.
Press releases • Nov 05, 2020 06:00 EST
Norwegian’s traffic figures for October are heavily influenced by lower demand caused by continued travel restrictions across Europe, with several new red zones.
Press releases • Nov 02, 2020 06:00 EST
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.
Press releases • Oct 06, 2020 08:00 EDT
Norwegian’s traffic figures for September are heavily influenced by lower demand caused by new and stricter travel restrictions across Europe.
Press releases • Sep 21, 2020 15:00 EDT
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 August 2020 traffic figures heavily influenced by travel restrictions and drop in demand
Press releases • Sep 04, 2020 06:00 EDT
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%.
Press releases • May 20, 2020 09:02 EDT
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.
Press releases • May 01, 2020 11:01 EDT
Norwegian Reward, the award-winning loyalty program of Norwegian Air, has been named Airline Program of the Year Europe & Africa for the fourth consecutive year. In total, Norwegian Reward scored four Freddie Awards, a new record for the loyalty program, while being runner up in the two remaining categories.
Press releases • Apr 20, 2020 08:02 EDT
Due to the ongoing spread of COVID-19 almost all of Norwegian’s flight operations have been cancelled, while the costs for aircrew remain. The pilots and cabin crew in Scandinavia are employed in subsidiaries in the Norwegian Group. 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 aims to strengthen its balance sheet by converting debt to equity; Notice of extraordinary general meeting
Press releases • Apr 08, 2020 10:00 EDT
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.
Press releases • Apr 06, 2020 06:00 EDT
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.
Press releases • Mar 24, 2020 08:16 EDT
Press releases • Mar 16, 2020 09:16 EDT
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.
Press releases • Mar 12, 2020 12:42 EDT
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
Press releases • Mar 10, 2020 09:00 EDT
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.