Norwegian Air’s owners approve crisis plan

Shareholders in Norwegian Air voted in favour of management’s plans to raise another NOK 4 billion in the form of new shares, even though it will greatly dilute their own holdings. Management’s crisis plan, which involves a major restructuring of the airline aimed at ensuring its survival, was also approved. Norwegian’s CEO Jacob Schram called […]

Norwegian likely to end long-haul routes

Norwegian Air, currently operating minimal service under bankruptcy protection, looks set to drop the popular but unprofitable low-fare intercontinental routes that it launched less than a decade ago. The airline will likely concentrate instead on routes within Norway and Europe, if its bankruptcy reorganization succeeds. Norwegian’s intercontinental expansion began in 2013 with flights from Oslo […]

Norwegian Air wins breathing room

An Irish court granted bankruptcy protection to struggling Norwegian Air’s Irish subsidiaries on Monday. The decision also temporarily protects the airline’s Oslo-based parent company from creditor claims, giving it some badly needed breathing room in the battle to save it from permanent grounding.  Business news service E24 reported Monday evening that the bankruptcy protection means […]

OSL closes off terminal areas

Norway’s gateway airport in Oslo, OSL Gardermoen, has lost so much traffic and business during the Corona crisis that it’s closing off large areas of terminals that only recently opened after a NOK 2 billion expansion. The goal is to cut costs until traffic picks up again, which may not happen until 2022 or beyond. […]

Norwegian Air files for reorganization

Crisis-hit Norwegian Air launched a bankruptcy process on Wednesday, filing for protection from creditors in Ireland where some of its main subsidiaries are based. The deeply troubled airline aims to reorganize and maintain at least some of its operations in the meantime, with most already scaled way back because of the Corona virus crisis. Norwegian […]

Wizz crews flew in with Corona

Health Minister Bent Høie is reevaluating Corona virus containment measures after several members of foreign airline crews for Hungarian airline Wizz Air tested positive after landing in Oslo. Newspaper Dagens Næringsliv (DN) reported that five Wizz crew members were put in isolation at a hotel near Oslo’s main airport at Gardermoen. Wizz Air has stirred […]

No bailout for Norwegian Air

Norwegian Air was back on the brink of bankruptcy Monday after the Norwegian government refused the ailing airline’s latest demand for financial aid. The risk of losing billions of taxpayers’ money by providing liquidity specifically to Norwegian was deemed as just too high this time, since the airline already has NOK 40 billion in debt. […]

Pilots’ group mounts Wizz Air protest

Members of one of Norway’s pilots organizations demonstrated in Oslo, Stavanger, Bergen, Trondheim and Bodø on Thursday against the new take-offs and arrivals of Hungarian airline Wizz Air. It was launching new domestic routes as it both entered and challenged the market with extremely low fares. “They have hindered employees from organizing (in labour unions),” […]

Cheap tickets get Norway flying again

Low-fare carrier Wizz Air is launching new airline routes within Norway this week, prompting rivals to also sell tickets that can cost less than a bus ride in the Oslo area. A professor at the Norwegian business school NHH notes that low fares can always win over Corona fears and Wizz Air’s controversial aversion to […]

Wizz Air defies a threatened boycott

Low-fare carrier Wizz Air announced on Thursday that it’s opening a new base in the central Norwegian city of Trondheim, defying an expanding boycott against it. The airline is also doubling its planned number of domestic routes in Norway, before even getting off the ground. Wizz founder and CEO József Váradi conceded that his airline […]