The bankruptcy of Norwegian airlines

The bankruptcy of Norwegian airlines

Representatives of Norwegian airlines have announced bankruptcy.

The Norwegian airline – Flyr – was established in August 2020. At the beginning of 2023, i.e. after only 2.5 years, their representatives announced that they had filed for bankruptcy. They were forced to make such decisions by failing to implement the company’s financing plan. Well, in November 2022, they took action in the form of the sale of shares, the purpose of which was to secure funds for the continued operation of the airlines. However, they failed to collect the necessary amount.

This is not the first airline that has been forced to shut down with the advent of the new year. British regional airline Flybe shared the same fate at the end of January. It is worth noting that this is the second bankruptcy of this carrier. Well, Flybe was established in 1979. However, financial problems contributed to the declaration of bankruptcy in March 2020. However, the purchase of the assets of these airlines allowed them to resume operations in April 2022. After less than a year of operation, the carrier was again forced to cease existence.

The problems of airlines began to pile up with the advent of the coronavirus pandemic. They affected different carriers. Sometimes they took effective corrective actions, and at other times they went out of business. It seemed, however, that with the widespread loosening of restrictions related to movement, airlines would gradually but systematically rebuild their unsettled position. As it turns out, not everyone succeeds.


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