Norwegian Air plans to close its long haul operations and focus on scaled-down European business. On Thursday, Norwegian Air added that it had resumed talks with the government about possible state aid for the restructuring.
Norwegian, which has helped transform transatlantic traffic by expanding the European low-cost airline’s business model to long-haul destinations, had to during All but six planes land during the pandemic.
The plan, which has to be approved by an Irish bankruptcy court, is part of budget carrier Norwegian efforts to cope with the coronavirus crisis and complete a debt restructuring. If approved, the proposal would reduce the Norwegian fleet from currently 140 to around 50 aircraft.
The aim is to reduce total debt to around 20 billion Norwegian kroner (1.9 billion euros) and with a mixture of these new shares and hybrid capital between 4 and 5 billion crowns.
« The company recently resumed a dialogue with the Norwegian government on possible state participation based on the current business plan, » the airline said in a statement / p>
An INM website