Norwegian cancels major aircraft order and books US$1.5 billion charge

Having secured bankruptcy protection in both Norway and Ireland in 2020, low-cost carrier Norwegian Air (Norwegian) has taken a NEK12.8 billion (US$1.5 billion) charge and cancelled its current order of 88 narrow-body Airbus jets. Last year Norwegian cancelled its remaining orders for 97 aircraft with Boeing, while also seeking compensation from the planemaker for the grounding of 737 MAX jets and technical problems relating to the 787 Dreamliner. The intention is for Norwegian to extricate itself from its current restructuring process with appreciable less debt and many fewer aircraft to avoid bankruptcy. From an original fleet of 140 aircraft the Read more
