Do you think Norwegian Air Shuttle (Norwegian) will be able to survive?

Charter · 09-05-2020, 05:21 PM

Good afternoon.
Norwegian Air Shuttle is one of the most important low cost airlines of the world, operating both B737-800WL and B787 (-8 and -9).
134 B737-800WL
18 B737 MAX8
8 B787-8
29 B787-9
its fleet while the current situation is just 25 B737-800WL in service, due Covid-19 pandemic (the MAX8 are grounded since Lion Air and Ethiopian Airlines tragedies).
The situation wasn't so good even before the Covid-19 pandemic and maybe the decision to start low cost long-haul flights has not been a good decision, as Ryanair, Southwest, easyJet prove well. In fact their strength, even during a very difficult moment like Covid-19 pandemic and all virus-related regarding civil aviation, is to continue to fly regional, national and international flights, without losing money in expensive (even if low cost) long-haul routes.
Do you think Norwegian will survive and it will be the next "giant" to fail?

Norwegian August 2020 traffic figures heavily influenced by travel restrictions and drop in demand

DutchCollector · 09-06-2020, 09:04 AM

No.

*filler*

Danish Air Transport · 09-06-2020, 10:46 AM

No.. They were having a hard time before COVID-19. Can't imagine Norwegian will be flying in the future.

Charter · 11-16-2020, 04:54 AM

Norwegian Government refuses to help Norwegian Airlines anymore
https://airlinegeeks.com/2020/11/13/...ertain-future/

Charter · 11-16-2020, 05:07 AM

In the meanwhile Italian airline Neos bought two ex Norwegian B787-9, LN-LNT and LN-LNX
https://simpleflying.com/norwegian-boeing-787-sale/

Charter · 01-14-2021, 11:19 AM

Norwegian stops all transatlantic flights and fires more employees!

https://simpleflying.com/norwegian-moves-to-short-haul/

Charter · 01-21-2021, 02:20 PM

Norwegian Government decided to help Norwegian Air Shuttle:

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.
“On behalf of everyone at Norwegian, I would like to sincerely thank the government for their support. Norwegian has been faced with a very challenging and demanding situation due to the pandemic, and the government’s support significantly increases our chances of raising new capital and getting us through the reconstruction process we are currently in. We still have a lot of work ahead of us, but a participation from the government underscores that we are heading in the right direction,” said Norwegian CEO, Jacob Schram.
Norwegian entered into an Irish examinership process and a supplementary reconstruction negotiation in Norway late last year. On January 14, 2021, the airline presented a new business plan (LINK) based on a simplified business structure with a focus on a European route network and discontinuing its long-haul operations, as well as significantly reducing its debt. The plan comprises a fleet of around 50 aircraft in operation this year, and to gradually increase to approximately 70 aircraft in 2022, pending demand and potential travel restrictions. The debt will be reduced to around NOK 20 billion, and the company will raise four to five billion NOK in new capital.
“With a new business plan, and a participation from the government, we are confident we can attract investors and get through the Examinership and reconstruction process. We have received extensive support from political parties, customers, colleagues, shareholders, and business partners, for which we are extremely grateful, especially during these challenging times. Furthermore, the government’s support will contribute to help securing jobs and maintain healthy competition within the aviation sector,” added Schram.