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Norwegian initiates a reorganization plan with its daughter companies Norwegian Air International and Arctic Aviation Assets seeking protection under Irish Examinership

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 third quarter results heavily impacted by COVID-19 – net loss of NOK 980 million and 91 per cent reduction in customers year on year
Norwegian forced to furlough an additional 1,600 employees following the government’s decision not to give further support

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.

Norwegian is very disappointed about lack of government support

Norwegian is very disappointed about lack of government support

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.

COVID-19 continues to heavily impact Norwegian’s traffic figures

COVID-19 continues to heavily impact Norwegian’s traffic figures

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.

Norwegian is voted Europe’s Leading Low-Cost Airline 2020 for 6th consecutive year

Norwegian is voted Europe’s Leading Low-Cost Airline 2020 for 6th consecutive year

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.

COVID-19 heavily impacts Norwegian’s September traffic figures

COVID-19 heavily impacts Norwegian’s September traffic figures

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.

Norwegian Air commits to reduce CO2 emissions by 45 percent by 2030

Norwegian Air commits to reduce CO2 emissions by 45 percent by 2030

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

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%.

Norwegian finalizes recapitalization and secures state aid

Norwegian finalizes recapitalization and secures state aid

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.

Norwegian Reward Named Airline Loyalty Program of the Year for the Fourth Consecutive Year

Norwegian Reward Named Airline Loyalty Program of the Year for the Fourth Consecutive Year

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.

Norwegian’s pilot and cabin crew companies in Sweden and Denmark file for bankruptcy

Norwegian’s pilot and cabin crew companies in Sweden and Denmark file for bankruptcy

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.

Norwegian Air's March traffic figures heavily influenced by COVID-19 measures

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.

Norwegian to cancel 85 percent of its flights and temporarily layoff approximately 7,300 colleagues

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.

Norwegian to suspend more than 4000 flights and implement layoffs

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.

Norwegian reports higher unit revenue and improved punctuality in February

Norwegian reports higher unit revenue and improved punctuality in February

Press releases   •   Mar 05, 2020 06:00 EST

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.