Their latest shareholder meeting this month may keep them alive for a while longer as long as Norwegian is able to convert its debt to equity.
They did a 100:1 reverse stock split to keep the stock priced more than a penny. We'll see how long the stock price holds up. Even after that was done, the stock cratered 20% on Friday.
They plan on issuing more stock, but that plan falls apart if the stock keeps falling.
They need to issue more stock to recapitalize because they'll run out of cash sometime in Q1 2021.
Their special meeting even had the company paying their executives in stock rather than cash.
Now Wizz Air is flying in Norway, undercutting Norwegian fares.
Wizz Air Launches Domestic Norwegian Flights - Simple Flying
In addition to filing for bankruptcy in Ireland, their Norwegian subsidiary also filed bankruptcy in Norway. I suppose it's possible for Norwegian to emerge from bankruptcy, but if they do, they will likely be a much smaller airline. I don't see them flying another transatlantic flight.