The Norwegian restructuring
Compliant with the restructuring of the Norwegian.
Norwegian airlines have obtained court approval to implement restructuring plans. As intended, Norwegian is to significantly reduce the list of its connections and focus only on serving Scandinavian and European routes. This entails the need to reduce the number of aircraft. In addition, the airlines declared their willingness to issue new shares. However, this requires the approval of the Norwegian Financial Supervisory Authority. Norwegian can also count on financial support from the Norwegian government. The end of the restructuring proceedings is expected on May 26.
The coronavirus pandemic has significantly limited the activities of airlines. As a result, many carriers struggle with financial problems. A few weeks ago we wrote that the current situation forced the Czech national carrier – Ceske Aerolinie (CSA) to declare bankruptcy.