Norwegian has filed for a “reconstruction” underneath Norwegian regulation because the provider battles to outlive the Covid-19 shutdown.
The airline stated the method will coexist with the Irish examinership course of.
The provider was made topic to the examinership course of in Eire on December seventh, and now desires to enter right into a supplementary Norwegian reconstruction course of.
This transfer was introduced in a discover to the Norwegian inventory trade as we speak.
“A supplementary reconstruction course of underneath Norwegian regulation will likely be to the advantage of all events and can improve the chance of a profitable outcome.
“Our intention is to safe jobs within the firm and to contribute to securing essential infrastructure and worth creation in Norway,” stated Norwegian chief government, Jacob Schram.
“We’ll now focus on working in direction of our objective of decreasing firm debt, decreasing the dimensions of our plane fleet, and making certain that we’re an organization that traders will discover enticing.
“We will likely be prepared to fulfill the competitors for patrons after the Covid-19 pandemic,” stated Schram.
Norwegian filed for the Irish Examinership on November 18th and argues the processes is not going to have an effect on the present enterprise.
The corporate will proceed to function its route community.
Each its bonds and shares will proceed to commerce as regular on the Oslo Inventory Trade.
