Tranatlantic low cost carrier Norwegian was exceptionally weak before the pandemic, but their financial maneuverings had positioned them so that a strong summer would give them runway to make it through the lean winter. Covid precluded that strong summer. On March 6 I identified Norwegian’s failure as a coronavirus risk.
They got a $341 million government bailout. They declared four subsidiaries bankrupt. Now they’re looking for another bailout from the Norwegian government.
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And they’re reportedly in talks with the government of Norway over nationalization, since the earlier bailout the carrier received hasn’t been enough to keep them afloat while a government spokesperson confirms that the carrier is deemed to be “very important” although they’d anticipate government-as-shareholder would be a temporary arrangement.