Norwegians shareholders agree to the crisis plan

by on May 4, 2020 0

An overwhelming majority of Norwegians’ shareholders have voted in favor of the group management’s rescue plan, which will prevent the company from going bankrupt.

The vast majority of shareholders voted in Monday’s extraordinary general meeting, yes, on all the important points in the rescue plan, reports Dagens Næringsliv.

The goal of the plan for CEO Jacob...

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Norwegian will convert debt into equity

by on April 13, 2020 0

The Norwegian Board of Directors will, through a number of measures, strengthen the company’s balance sheet and fulfill the Norwegian authorities’ terms in Trades Two and Three of the Government’s loan guarantee scheme.

The Board of Directors proposes that debt be converted to equity by entering into agreements with, among other things, bondholders, lenders, leasing...

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Airlines on the edge fear repayments

by on April 8, 2020 0

The airlines are at risk of losing everything after canceled flights and demands from millions of travelers to get money back, IATA says.

The International Aviation Authority reports on Tuesday that a number of companies will run out of funds if the flights continue to flatten out.

“The companies only have liquidity to carry on for...

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Lufthansa shuts down Germanwings

by on April 8, 2020 0

Lufthansa is closing down low-cost airline Germanwings to cut costs and survive the corona crisis.

– Germanwings flights will not continue. The consequences of this decision will be discussed with the unions, a statement from the company says.

Germanwings is wholly owned by Lufthansa, which also owns Eurowings, SWISS, Brussels Air and Austrian Airlines.

The company says...

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Norwegian Air founder reducing shareholdings

by on April 3, 2020 0

A flagship announcement to the Oslo Stock Exchange on Tuesday shows that former Norwegian CEO Bjørn Kjos, his family and business partner Bjørn Kise are reducing their share holdings in the company.

According to Dagens Næringsliv, Kjos and Kise’s company HBK Holding is downsizing to a 4.46 percent ownership interest in the airline...

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Norwegian asks creditors for delay

by on March 26, 2020 0

Norwegian Airlines asks creditors to defer interest and repayment on loans until June 30 to meet state requirements before disbursement of relief package funds.

The Norwegian low-cost company Norwegian on Wednesday evening contacted its lenders to seek deferral of interest payments and repayments on its debt items until June 30 this year. This is done...

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Norwegian requests the same support as SAS

by on March 22, 2020 0

Norwegian is a Norwegian company that needs similar help from the Norwegian authorities in order to secure Norwegian jobs, infrastructure and value creation. We are pleased that the Government and Storting have said they will do everything necessary to save Norwegian companies and Norwegian jobs through this crisis, and we now hope that similar...

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Comprehensive package of measures for Norwegian aviation: 6 billion in loan guarantee

by on March 22, 2020 0

Krisen i luftfarten er formidabel, og vi ser at mange land nå etablerer store ordninger for å sikre likviditet for flyselskapene. Partiene vil bidra til at norsk luftfart opprettholdes gjennom en økonomisk krevende periode.

Den første økonomiske krisepakken ble lagt fram 13. mars, og det ble varslet at det om kort tid ville komme flere tiltak....

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