Norwegian Air Files Bankrupcy Protection

Real World Aviation
#1

Norwegian Air is seeking protection from its creditors as it attempts to restructure its business and survive the coronavirus pandemic.

A statement on Wednesday that it has decided to file for examinership in Ireland, which is where its aircraft assets are held. Examinership allows companies to seek a court’s protection from creditors for up to 100 days, and is the rough equivalent of Chapter 11 bankruptcy in the United States.

The carrier warned last week that it would need additional cash to continue operating through the first quarter of next year and beyond. It received a state-backed loan of 3 billion Norwegian Krone ($288.7 million) in May, but the country’s government has ruled out providing more financial assistance — a decision Schram described as “a slap in the face.”

The airline carried just 1 million passengers in the third quarter, compared to 10.5 million during the same period last year. Its quarterly operating loss amounted to 2.8 billion Krone ($310 million), while cash and cash equivalents had dwindled to just 3.4 billion Krone ($376 million) at the end of September.

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Norwegian Air Files for Bankruptcy
#2

So basically, Norwegian Air is on life support.

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#3

NUUUUUUUUUUUUUUUUUUUUUUU!!

I LOVE NORWEGIAN AIR! WHAAAAAAAAAAAAAAAAAAIIII?!?!?!?!

#4

RIP norwegian, I liked their business class (CHEAP)

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#5

*insert uncontrollable sobbing *

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#6

The coronavirus has officially taken it too far.

#7

I was laid off due to the virus

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#8

@Capt.SkyWalker I will miss this airliner

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#9

Brb. Going to cry in a corner 😭

image

I don’t want this airline to leave aviation

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#10

We should all fly this aircraft together in the sim but it has to be on the Training server because I am a grade 2

#11

Looks like we will need to call these guys…
200

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#12

Is this for the parent company of Norwegian Air & Subsidiaries or just a few subsidiaries?

#13

I believe the first protection notice was done in Ireland and equivalent for US Chapter 15. I believe its for all

#14

This is sad i must admit. I do love Norwegian. I remember when Norwegian AirShuttle was a tiny domestic airline operating only Fokker -50’s on domestic routes in Norway. When they expanded and got new investors i remember being so excited for seeing their 737-300/500’s. SAS had a monopoly on routes in Norway at the time, and had a partnership with Wideroe (i believe they still do) and prices of flying was pretty high. When Norwegian arrived on the scene prices were lowered, and SAS was forced to treat their passenger better :P (jk). Norwegian expanded, entering the international market, got new 737-800’s and even added 787 Dreamliners. It was an avgeeks dream, unfortunately they expanded too quickly, i love their hard and soft products too. As of now they only operate a skeleton service on domestic routes again within Norway. To make matters worse, Wizzair has taken the opportunity to serve the most popular domestic routes in Norway (they started just a few weeks ago) at cheaper prices than Norwegian. It doesn’t look good and ill truly be sad to see them go :(

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#15

TL:DR: Norwegian Air is a great airline and I’m sad to see it go.

#16

You can also add that they had some unlucky misfortunes. They’ve had 787s grounded for weeks and there is someone still on the ground over 12 months later due to the Trent 1000s.

The other issue was the Max-8 (737 8) due to them also been grounded for 20 months leading to 1000s of transatlantic flights been cancelled. Another unlucky was one of them having an engine failure forcing it to divert to Iran or Iraq (can’t remember which one) and again this took months as Boeing couldnt get parts over due to US sanctions

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#17

Bit odd that their filling for bankruptcy in Ireland even though the’re from Norway and based there.

#18

They have an arm in Ireland which now stops any Irrish creditors getting to them

#19

Noooo rednose damit, I remember before I flew with IF, I was a big man in Roblox Aviation I know it sounds dumb but it worked, you’ll be surprised how good Airshow were etc, My first “job” I got a rank in Norwegian Air, it was a great airline IRL and virtual and I flew the 787 around In IF, sad to see them be like this.

#20

The writing has been on the wall for some time now. Still unfortunate though.