What is being said among the members of Danish pilot union (FPU), the Irish court gives them the best chance for reorganization. My own personal opinion is that they will survive in some fashion, but it will not look anything like the pre-2019 Norwegian. It should be noted that in 2019, upper management was completely replaced. Word is that the new CEO was not a fan of the shell game set up and was beginning to simplify the structure before Covid hit.

 

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.

 

Summer, 2021 is a long ways off... However, vaccines... LAS, LA, NY... ORL may be a lot closer.

 

Maybe the end game...

https://www.aljazeera.com/news/2020/...thout-cash-aid

 

Almost two months old. Since then they’d secured creditor protection from both the Irish and Norwegian courts. Still, it’s not looking good long term for them. Wizz Air is starting intra-Norway routes as well.

 

Norwegian is getting rid of all of its 787s. Norwegian Air Gives Up Long-Haul Flying in Plan to Exit Insolvency - Bloomberg

 

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.

 

Yeah... read the news yesterday.

 

Thoughts and prayers

 

Who did they outsource to?