Norwegian Air stability through summer?
Mar 18, 2021, 2:56 am
#781
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When financial markets are flush with so much liquidity in this environment of low interest rates and high prices for many asset types, this would be the kind of thing I would expect to happen. Especially with so many "cheap" planes needing somewhere to go since even parking them is not without its costs.
My prior paragraph gives an indication of what could have stopped this and may still stop it.
From what I see hitting accounts, the TATL roundtrip economy class ticket prices are already more expensive now during this pandemic than they were before this pandemic hit TATL travel. If expecting a boom in TATL travel prices, then wanting to get prepped for the ride on those higher prices and a demand recovery -- a demand recovery that seems likely to come sooner/more from leisure and other more price-sensitive travelers than others -- then that probably makes the job easier for the company's promoters to raise money.
My prior paragraph gives an indication of what could have stopped this and may still stop it.
From what I see hitting accounts, the TATL roundtrip economy class ticket prices are already more expensive now during this pandemic than they were before this pandemic hit TATL travel. If expecting a boom in TATL travel prices, then wanting to get prepped for the ride on those higher prices and a demand recovery -- a demand recovery that seems likely to come sooner/more from leisure and other more price-sensitive travelers than others -- then that probably makes the job easier for the company's promoters to raise money.
May 3, 2021, 2:41 pm
#782
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There is an effort to raise about $1 billion in equity to get Norwegian ready for more flying action, in anticipation of a recovery in the market.
May 5, 2021, 9:38 am
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Even if they choose to remain a shorthaul-only airline going forward and they have been able to make a profit on shorthaul operations in the past, there must be better investment opportunities both within the airline industry and in other industries.
May 6, 2021, 2:41 pm
#786
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Who in their right mind would invest in Norwegian?
Even if they choose to remain a shorthaul-only airline going forward and they have been able to make a profit on shorthaul operations in the past, there must be better investment opportunities both within the airline industry and in other industries.
Even if they choose to remain a shorthaul-only airline going forward and they have been able to make a profit on shorthaul operations in the past, there must be better investment opportunities both within the airline industry and in other industries.
For example, some people may know they will have enough potential profits/capital gains to book ahead that taking a gamble on an investment isn't as risky for them as it would be for others.
May 23, 2021, 6:16 pm
#787
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They seem to be on track to have managed to raise much of the money they wanted:
Norwegian Air Raises Fresh Capital, Set to Exit Restructuring:
https://www.reuters.com/business/aer...ng-2021-05-21/
Norwegian Air Raises Fresh Capital, Set to Exit Restructuring:
Originally Posted by Reuters
Norwegian Air (NORR.OL) is set to exit its restructuring process next week after raising the 6 billion Norwegian crowns ($714 million) it targeted through the sale of perpetual bonds, new shares and a rights issue, the company said on Friday.
Financed largely by debt, Norwegian Air grew rapidly, serving routes across Europe and flying to North and South America, Southeast Asia and the Middle East before the COVID-19 pandemic plunged the budget airline into crisis.
Courts in Ireland and Norway had demanded the airline raise at least 4.5 billion crowns as part of a scheme to emerge from bankruptcy protection in the two countries on May 26.
The private placement of new shares raised 3.73 billion crowns and was "significantly oversubscribed", the firm said in a statement.
Financed largely by debt, Norwegian Air grew rapidly, serving routes across Europe and flying to North and South America, Southeast Asia and the Middle East before the COVID-19 pandemic plunged the budget airline into crisis.
Courts in Ireland and Norway had demanded the airline raise at least 4.5 billion crowns as part of a scheme to emerge from bankruptcy protection in the two countries on May 26.
The private placement of new shares raised 3.73 billion crowns and was "significantly oversubscribed", the firm said in a statement.
May 25, 2021, 5:22 am
#788
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Norwegian Air Sweden AB, the Swedish subsidiary of Norwegian, has filed for bankruptcy.
In Swedish: https://www.svt.se/nyheter/ekonomi/n...ker-om-konkurs
Google Translate to English: https://translate.google.com/transla...ker-om-konkurs
In Swedish: https://www.svt.se/nyheter/ekonomi/n...ker-om-konkurs
Google Translate to English: https://translate.google.com/transla...ker-om-konkurs
Jun 1, 2021, 5:14 am
#789
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Norwegian Air Sweden AB, the Swedish subsidiary of Norwegian, has filed for bankruptcy.
In Swedish: https://www.svt.se/nyheter/ekonomi/n...ker-om-konkurs
Google Translate to English: https://translate.google.com/transla...ker-om-konkurs
In Swedish: https://www.svt.se/nyheter/ekonomi/n...ker-om-konkurs
Google Translate to English: https://translate.google.com/transla...ker-om-konkurs
Jun 1, 2021, 6:00 am
#790
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Norwegian is back to operating in ARN:
ARN-Malaga
ARN-Lulea
ARN-Umea
ARN-Oslo
Norwegian is currently on the flight board here for Lulea, with a 17:45 departure leaving ARN.
Gothenburg is its second focus city for Sweden.
ARN-Malaga
ARN-Lulea
ARN-Umea
ARN-Oslo
Norwegian is currently on the flight board here for Lulea, with a 17:45 departure leaving ARN.
Gothenburg is its second focus city for Sweden.
Jun 1, 2021, 7:52 am
#791
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Good. I hope they survive as a Nordic focused LCC. SAS prices this summer are nuts without the competition.
Jun 3, 2021, 4:19 am
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I'm not sure if my own experience this year is representative of the markets as a whole, but the summer airfare prices for economy class travel on my flights in the US and in Europe are the highest I've ever seen them for a summer. Mileage tickets can help get around some of those high prices, but it's not looking pretty on the regular paid ticket fare front.
Jun 3, 2021, 4:33 pm
#793
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I'm not sure if my own experience this year is representative of the markets as a whole, but the summer airfare prices for economy class travel on my flights in the US and in Europe are the highest I've ever seen them for a summer. Mileage tickets can help get around some of those high prices, but it's not looking pretty on the regular paid ticket fare front.
I find Japan domestic to be the same price range as always, and quite easy to get my hands on the lower price buckets. There are benefits to the almost entirely sealed borders.
Last edited by CPH-Flyer; Jun 3, 2021 at 5:48 pm
Jun 21, 2021, 4:46 am
#794
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Norwegian has kicked out their CEO, the role is being taken over by the CFO.
https://e24.no/boers-og-finans/i/JJk...rlsen-tar-over
Norwegian language only.
https://e24.no/boers-og-finans/i/JJk...rlsen-tar-over
Norwegian language only.
Jun 21, 2021, 10:17 am
#795
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English Statement here
https://media.uk.norwegian.com/press...wegian-3110756
Geir Karlson (ex CFO) now CEO immediatly replacing Jacob Schram.
https://media.uk.norwegian.com/press...wegian-3110756
Geir Karlson (ex CFO) now CEO immediatly replacing Jacob Schram.