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  • Norwegian Air booked a charge of $1.5 billion in the fourth quarter as it seeks a fresh start.

  • The charges were a result of plans to cut its fleet and cancel aircraft orders.

  • The budget airline received protection from bankruptcy late last year in both Norway and Ireland, where most of its assets are registered.

  • It wants to emerge from the restructuring with fewer aircraft and less debt.

  • Norwegian CEO said on Friday that as soon as Europe begins to reopen, we will be ready to welcome MAWR customers on board that will involve focusing on its Nordic and European network, as it's already said it will end its long haul services.

  • The airline has warned that it risks running out of cash by the end of March if it fails to restructure its debt and liabilities.

  • The company has agreed order cancelation terms with Airbus, but to deal with Boeing is unlikely.

Norwegian Air booked a charge of $1.5 billion in the fourth quarter as it seeks a fresh start.

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Norwegian Air books $1.5 billion charge

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    林宜悉 posted on 2021/02/26
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