MIAMI – Scandinavian low-cost carrier Norwegian Air Shuttle (DY) plans to expand its fleet to 50 aircraft in 2021 and to 70 in 2022, in line with a system of regional and short-haul routes throughout Europe.
The airline said in a first-quarter earnings report that capacity will be steadily reintroduced into the market because passenger demand is unlikely to rebound to 2019 levels before 2023 or 2024.
When limitations on travel permit, Norway intends to provide a balance of intra-Nordic and domestic routes to its four central market sources in Norway, Denmark, Sweden and Finland and offer flights to “Key Cities and popular recreational destinations” all across Europe.
TIMELINE-Norwegian Air s rise and battle for survival Reuters 7 hrs ago
(A TIMELINE is a sidebar that lists in chronological order events related to a major news story.) (Updates to April 29)
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April 29 (Reuters) - Having grown rapidly to become Europe s third-largest low-cost airline and one of the few to apply the budget model to transatlantic flights, Norwegian Air has been fighting for its survival.
On Thursday, the carrier said it expected demand for short-haul travel in Europe to return to pre-pandemic levels in 2023 or 2024, as it presented a first-quarter loss before tax of 1.19 billion crowns ($144.96 million).
Following are key dates in the company s 28-year history.
High Court approves survival plan for Norwegian
Updated / Thursday, 22 Apr 2021
18:41
The Norwegian case was one of the biggest and most complicated examinerships in the history of the state
The High Court has approved a survival plan for the troubled Norwegian Air airline and related companies.
In a written decision Mr Justice Michael Quinn said he was satisfied to approve the scheme put together by the airline s examiner, Kieran Wallace of KPMG.
The airline s Oslo-based parent company and several of its Irish registered subsidiaries had sought the protection of the Irish courts due to factors including the devastating impact that the covid-10 pandemic has had on the airline industry and international travel.
High Court approves survival scheme for troubled airline group Norwegian
The group, the court heard had accumulated debts of US$5.2Bn. By Aodhan O Faolain Thursday 22 Apr 2021, 7:15 PM 3 hours ago 8,045 Views 2 Comments
Image: Omar Marques/PA
Image: Omar Marques/PA
THE HIGH COURT has approved a survival plan for the troubled Norwegian Air airline and related companies.
In a written decision Justice Michael Quinn said he was satisfied to approve the scheme put together by the airline’s examiner Kieran Wallace of KPMG.
The airline’s Oslo-based parent company and several of its Irish registered subsidiaries had sought the protection of the Irish courts due to factors including the devastating impact that the Covid-19 pandemic has had on the airline industry and international travel.
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Norwegian Air Sister Firms Want In On Boeing Battle
Law360 (April 19, 2021, 10:31 AM EDT) Six of Norwegian Air Shuttle ASA s sister firms have asked an Illinois federal judge to let them intervene in the airline s $1 billion suit over Boeing s 737 Max 8 jets, saying they have been assigned Norwegian s rights to the 14 aircrafts that were grounded after regulators pulled the plug on the planes over safety concerns.
Norwegian s interest in 12 Boeing 737 Max and two 787 Dreamliner jets were assigned to those firms at or soon after purchase, the Arctic Aviation Assets entities said in their motion to intervene Thursday, giving them the right to pursue claims for damages as they relate.