Norwegian reports

Already struggling before the outbreak of the pandemic Norwegian Air has reported dire figures for the first half of 2020. 

Despite a drastic corporate restructure and the substantial loan guarantees provided by Norway’s Government, the airline, which has a UK-registered subsidiary, is in a precarious financial position and is fighting for survival.

At a press conference announcing a loss of £400m for the first half of 2020, Norwegian CEO Jacob Schram said the airline still needs financial support: “There is no doubt that we will still need help towards the end of the year to get through the winter.”

Following a drop in customer demand Norwegian has now grounded 140 aircraft and furloughed or laid off approximately 8,000 employees. In the second quarter, Norwegian only operated 7-8 aircraft on domestic routes in Norway.

In a statement Schram updated the situation: “On July 1, we reopened 76 routes, put an additional 15 aircraft into service and brought more than 600 employees back to work. The market is still highly uncertain, mainly due to changing travel advice from governments across Europe. As the government changes its travel advice, demand is immediately impacted. Going forward the company will continue to adjust its route portfolio in line with demand and government travel advice.”

www.norwegian.com/uk

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