No. It's NOT good. It's a scheme designed to avoid labor laws that prevent people working for slave wages. It's a bad move for the profession, and needs to be shut down.

Although it is a subsidiary of Norwegian Air Shuttle, NAI proposes to operate as an Irish airline, expressly for the purpose of avoiding the application of Norway’s employment laws to its air crew. It appears that NAI plans for its flight crew to work under individual employment contracts that are governed by Singapore law and that contain wages and working conditions substantially inferior to those of NAS’s Norway-based pilots.