Norwegian drops Dreamliners

The low-cost airline, Norwegian, has announced that it will be focusing on Europe with its new business plan.  With no long-haul out of Gatwick this will open up possibilities for other operators.

“Our short-haul network has always been the backbone of Norwegian and will form the basis of a future resilient business model,” said Jacob Schram, CEO of Norwegian.

“The new plan is to serve these markets with around 50 narrow-body aircraft in operation in 2021 and to increase that number to around 70 narrow-body aircraft in 2022.  On the finance side, Norwegian targets to reduce its debt significantly to around NOK 20bn and to raise NOK 4-5bn in new capital through a combination of a rights issue to current shareholders, a private placement and a hybrid instrument.

“Under these circumstances a long-haul operation is not viable for Norwegian and these operations will not continue.”

At the present time Norwegian has 35 Dreamliners, all grounded.

www.norwegian.com

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OUR READERS' FINEST WORDS (All times and dates are GMT)

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Michael Sadler, Newdigate

Sorry to see Norwegian 787’s go good product and we did not have to face the M25 Hope someone picks up the routes

Sandra Ann, London

I can’t see jetBlue’s little A321’s making up for Norwegian’s mighty 787's at Gatwick.

Frank West, London

Top grade product. Pity it has failed to New York from Gatwick. I will now have to pay full business class fares out of Heathrow.