Norwegian Pleased As Government Approves Financial Support
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Norwegian has today announced that the government of Norway is agreeable to providing the airline with the financial support it needs. The support, in the form of a hybrid loan, will be granted on the condition that more than half a billion dollars of capital is raised elsewhere.
Norwegian has had a lifeline thrown to it from the government of Norway. Photo: Norwegian
Norwegian is thrown a much-needed lifeline
Following the airline’s recent notification that it would no longer conduct low-cost long-haul flights, Norwegian is poised to receive the lifeline it has been hoping for. The airline announced today that the government of Norway has agreed to support the airline, and will be contributing to its funding needs pending certain conditions being met.
By Lewis Harper2021-01-13T15:24:00+00:00
Regional jets are likely to become an important tool for some of Europe’s mainline carriers as the recovery from the Covid-19 crisis begins, according CityJet chief executive Pat Byrne.
“Airlines will be anxious to preserve slots,” he said during a CAPA Live event today. “They will be anxious to protect market position [and] they will be anxious to defend routes they previously had… The tactical weapon for doing that is the regional jet.”
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Out of five pre-pandemic contracts, only SAS remains as a CityJet customer
Aircraft the size of the Irish wet-lease operator’s Bombardier CRJ900s will therefore “be most in demand, soonest”, Byrne believes, because “loads will be light” and airlines will have a “very critical eye” on trip costs.