Norwegian, the third largest airline at Gatwick, and a holder of a UK Air Operators Certificate, has confirmed the completion of a restructuring.
A State loan guarantee of £250m has been approved and the company has now converted one billion sterling of debt to equity and says it has laid a solid foundation for the future, although it admits the next months will remain challenging. No date yet for a return to anything like a full service nor of the future structure of its current fleet which stands at just over 100 Boeing 737 and 37 Boeing Dreamliner 787-8.
The airline is currently flying a limited Scandinavian schedule.
Prior to the pandemic Norwegian was carrying almost 6m UK passengers each year from Gatwick, Edinburgh and Manchester airports to 30 destinations worldwide with 1,200 UK-based pilots and cabin crew.
In 2014, Norwegian introduced the UK’s first low-cost long-haul flights to the US. The airline now flies to 11 US destinations, Buenos Aires and Rio de Janeiro from Gatwick.
www.norwegian.com