The Norwegian Cockroach
11-26-2020, 12:44 PM
#21
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Originally Posted by WHACKMASTER
So what’s the consensus? Is the Irish court going to help them out or are they in for liquidation? What are the odds of another company (say SAS) buying the company?
12-19-2020, 11:06 AM
#22
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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.
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.
12-19-2020, 01:36 PM
#23
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Originally Posted by Andy
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.
01-05-2021, 08:13 AM
#24
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01-05-2021, 09:10 AM
#25
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Originally Posted by rickair7777
01-14-2021, 02:13 AM
#26
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Originally Posted by captjns
Summer, 2021 is a long ways off... However, vaccines... LAS, LA, NY... ORL may be a lot closer.
01-14-2021, 07:11 AM
#27
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Originally Posted by Andy
Norwegian is getting rid of all of its 787s. Norwegian Air Gives Up Long-Haul Flying in Plan to Exit Insolvency - Bloomberg
I'm happy with that, as long as they keep their ultra-low budget outsourcing shell game scheme within their own borders.
01-14-2021, 07:12 AM
#28
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Originally Posted by Andy
Norwegian is getting rid of all of its 787s. Norwegian Air Gives Up Long-Haul Flying in Plan to Exit Insolvency - Bloomberg
01-14-2021, 08:16 AM
#30
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Originally Posted by rickair7777
Ding Dong, the witch is dead!
I'm happy with that, as long as they keep their ultra-low budget outsourcing shell game scheme within their own borders.
I'm happy with that, as long as they keep their ultra-low budget outsourcing shell game scheme within their own borders.
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