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FlyerTalker

Norwegian AS -- No long haul until at least March 2021

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Posted (edited)

For those fans of Norwegian, here is info from their latest presentation:

 

https://insideflyer.com/2020/04/norwegian-to-ditch-long-haul-flying-until-march-2021/

 

Highlights relevant to USA flyers include:

 

Schedule contraction to operating only 7 aircraft for Nordic destinations through 2020 and early 2021

Planned focus operation at Gatwick to selected "high-density" destinations in the USA

Gradual ramp-up, with full operations not forecast until 2022

 

Full presentation available through the above link.

Edited by FlyerTalker

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20 hours ago, FlyerTalker said:

For those fans of Norwegian, here is info from their latest presentation:

 

https://insideflyer.com/2020/04/norwegian-to-ditch-long-haul-flying-until-march-2021/

 

Highlights relevant to USA flyers include:

 

Schedule contraction to operating only 7 aircraft for Nordic destinations through 2020 and early 2021

Planned focus operation at Gatwick to selected "high-density" destinations in the USA

Gradual ramp-up, with full operations not forecast until 2022

 

Full presentation available through the above link.

 

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My nephew who fly for Norwegian airlines Uk to USA was told he as lost his job as they are not fly anymore to UK and USA even after the Coronavirus.

 

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2 hours ago, nevertolate said:

My nephew who fly for Norwegian airlines Uk to USA was told he as lost his job as they are not fly anymore to UK and USA even after the Coronavirus.

 

Well, this is from page 43 of their presentation:

 

Focus on top-tier cities and key flows between the EU and the US where Norwegian has inherent strengths in terms of scale and existing presence, e.g. LGW, JFK and LAX

 

 

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Posted (edited)

We do a fair amount of flying on the LCCs in Asia/Australia during the winter months and in Europe during the fall.  We fear that many of them will not be around when we start returning to those countries and that fares will be double and triple what they have been (and routes trimmed) in the past because of the supply curves.

Edited by iancal

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On 4/29/2020 at 10:37 AM, FlyerTalker said:

For those fans of Norwegian, here is info from their latest presentation:

 

https://insideflyer.com/2020/04/norwegian-to-ditch-long-haul-flying-until-march-2021/

 

Highlights relevant to USA flyers include:

 

Schedule contraction to operating only 7 aircraft for Nordic destinations through 2020 and early 2021

Planned focus operation at Gatwick to selected "high-density" destinations in the USA

Gradual ramp-up, with full operations not forecast until 2022

 

Full presentation available through the above link.

 

Thanks for the link.  Looks like the Norwegian government is going to bail them out and allow them to continue on as a viable entity.  Amazingly, I got a refund for a LAX-CDG ticket that was cancelled right after the travel ban went into effect.  I thought it was going to be a total loss, but I got my refund. Thanks taxpayers of Norway for your generosity!

 

I was happy to see that LAX remains part of their long term plans.  While we have many Norwegian "haters" on this site, my own experience with them has been great in terms of value for service provided.

 

23 hours ago, iancal said:

We do a fair amount of flying on the LCCs in Asia/Australia during the winter months and in Europe during the fall.  We fear that many of them will not be around when we start returning to those countries and that fares will be double and triple what they have been (and routes trimmed) in the past because of the supply curves.

 

I agree.  I am expecting that fares will go up with reduced competition and frequency of service.   I am not really expecting great deals once the COVID travel bans are lifted as all provider costs will be higher.

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5 hours ago, SelectSys said:

Thanks for the link.  Looks like the Norwegian government is going to bail them out and allow them to continue on as a viable entity.  Amazingly, I got a refund for a LAX-CDG ticket that was cancelled right after the travel ban went into effect.  I thought it was going to be a total loss, but I got my refund. Thanks taxpayers of Norway for your generosity!

 

Hold the celebration.

 

There are four main tranches of bondholders - three have voted to OK the debt-equity swap proposals.  However, one was below the required threshold.  Norwegian is attempting another try.  Story from Reuters:

 

https://www.reuters.com/article/us-health-coronavirus-norwegianair/norwegian-air-bondholders-reject-debt-plan-in-setback-for-survival-hopes-idUSKBN22D4NH

 

From the article:  "Currently Norwegian Air is only paying invoices vital to maintaining minimum operations, such as salaries for staff still employed and critical IT infrastructure. It has put payments for ground handling, debt and leases on hold."

 

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19 hours ago, FlyerTalker said:

 

Hold the celebration.

 

There are four main tranches of bondholders - three have voted to OK the debt-equity swap proposals.  However, one was below the required threshold.  Norwegian is attempting another try.  Story from Reuters:

 

https://www.reuters.com/article/us-health-coronavirus-norwegianair/norwegian-air-bondholders-reject-debt-plan-in-setback-for-survival-hopes-idUSKBN22D4NH

 

From the article:  "Currently Norwegian Air is only paying invoices vital to maintaining minimum operations, such as salaries for staff still employed and critical IT infrastructure. It has put payments for ground handling, debt and leases on hold."

 

 

At this point I am only celebrating my refund.  My only comment regarding the future was that I am happy to see LAX remains in their plans.   The only thing that is keeping any airline alive at this point are infusions of government money.  I see Air France got 7.0 billion euro in state aid.

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Just to update my Norwegian story. Received full refund from them last week, 30 days from my scheduled flight. I have notified my credit card that they need to return it to sender because already received funds on disputed charge. 

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Norwegian air now has the Chinese state as the new major owner. Lessors including China’s BOC Aviation are now the biggest shareholders in Norwegian Air.

Major lessor Aercap now holds a 15.9% stake while China’s BOC Aviation Limited has 12.67% after converting lease obligations into shares.

BOC Aviation is ultimately owned by the Chinese government, via a series of other companies including Bank of China.
Link to Reuters

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