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Norwegian has 88 A320neo-family narrow-body jets on order from Airbus, according to the manufacturer.
AIRCRAFT manufacturers Airbus and Boeing are bracing for hefty jet order cancellations from troubled Norwegian Air amid restructuring proceedings, industry sources said.
Norwegian last year won protection from bankruptcy in both Norway and Ireland, where most of its assets are registered, and is aiming to emerge with fewer aircraft and less debt.
The Irish High Court this week is hearing arguments concerning the repudiation of some of Norwegian’s liabilities including aircraft leases.
“There is a hearing ongoing and we can’t comment until that is over, ” a Norwegian spokesman said.
Airbus and Boeing set to lose orders thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
By Cirium2021-02-24T16:07:00+00:00
Norwegian continues to make progress in settling leases and other contracts with creditors under its Irish restructuring process, but faces opposition from some parties.
In an Irish High Court hearing on 23 February, Norwegian’s representative Brian Kennedy said that the creditors it was dealing with fell into five groups: those with whom Norwegian has agreed to withdraw its repudiation applications; those with agreements to which court orders apply; those with which the airline has nearly settled or is engaged in discussions to settle and withdraw in the coming days; those that Norwegian is proceeding against but that have not opposed or indicated opposition to the applications; and, “most significantly”, those “actively opposing” the application.
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PARIS, Feb 23 (Reuters) - Planemakers Airbus and Boeing are bracing for some jet order cancellations from troubled Norwegian Air amid restructuring proceedings, industry sources said.
Norwegian last year won protection from bankruptcy in both Norway and Ireland, where most of its assets are registered, and is aiming to emerge with fewer aircraft and less debt.
The Irish High Court this week is hearing arguments concerning the repudiation of some of Norwegian’s liabilities including aircraft leases.
“There is a hearing ongoing and we can’t comment until that is over,” a Norwegian spokesman said.
Airbus had no immediate comment. Boeing was not immediately available for comment. (Reporting by Tim Hepher, Victoria Klesty, Conor Humphries)