OSLO: Norwegian Air Shuttle will focus on a strong and profitable Nordic and European network. The company plans to serve these markets with 53 narrow body aircraft in 2021 (50 operational and 3 spare).
The overall detailed plan supporting the future operations of the company will be disclosed during the course of next week.
Norwegian Air Shuttle reported its fourth quarter 2020 results. As anticipated, these are heavily impacted by the negative effects of the company’s reconstruction process and fully in line with the company’s plan to focus on Nordic operations.
The reconstruction process is continuing and proceeding in accordance with the timetable as earlier announced.
Going forward, Norwegian will focus on a strong and profitable Nordic and European network. The company plans to serve these markets with 53 narrow body aircraft in 2021 (50 operational and 3 spare).
With respect to timing, the Company is working with the Examiner and the Reconstructor with a view to commencing the legal steps required to implement the proposed Restructuring, including the issuance of a scheme of arrangement by the Examiner as soon as possible, with a view to the Capital Raise commencing in late March/early April, with the subscription period in mid-April and target closing end of end April / mid May.