Norwegian Sinks Deeper into Red Due to Covid-19 | Aviation International News

Norwegian Sinks Deeper into Red Due to Covid-19

The low-cost, long-haul concept remains at the center of Norwegian plans but on a smaller scale, prompting it to divest up to 17 of its 37 Boeing 787s.

By Cathy Buyck • Contributor - Europe

August 28, 2020

Norwegian Air Shuttle remains committed to the low-cost, long-haul model, athough the airline’s survival appears anything but guaranteed as the coronavirus pandemic continues to dampen demand for air travel and hamper its financial restructuring process. The Oslo-based carrier, which struggled with too much debt and low profitability pre-Covid-19, on Friday warned of “a significant risk that the company becomes insolvent and enters into bankruptcy” if it fails to reach an agreement with creditors, gains access to working capital, and resumes what it called “normalized operations.”

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