Norwegian's tough winter
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at 09:12 by transtraxman.
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AMcWhirterParticipantToday’s Irish Times reveals the extent of the cutbacks at Dublin.
19 Jan 2019
at 14:09
Tom OtleyKeymasterWe reported this
IAG to sell Norwegian shareholding
Which has caused Norwegian’s shares to drop by 26%.
Blomberg headline…
24 Jan 2019
at 18:21
Tom OtleyKeymasterI don’t know. I had a look but haven’t been able to find a figure, since the stake was built up over time, and then was diluted.
I’m seeing Willie Walsh on Friday so I’ll ask him.
Today’s news
Norwegian announces rights issue amid finance concerns
Lossmaking carrier’s shares take a hit as takeover talks cease
29 Jan 2019
at 12:04
AMcWhirterParticipantAnd that B737 MAX is still stranded at Shiraz.
Boeing 737 MAX 8 stuck in Iran since December 14, a real headache for Norwegian
29 Jan 2019
at 13:44
transtraxmanParticipantNorwegian is one airline I am following with interest, especially as one year ago it was in the sights of IAG. Now IAG has taken a step backwards and has even decided to sell its shareholding.
I am not one who wants to twist the knife in the wounds Norwegian is suffering but it does seem to be in the news day after day. However, some openess at this stage might be called upon to satisfy shareholders, employees and passengers.
“Norwegian sale ‘scuppered amid Brexit uncertainty’”, (Travel Weekly 4-02-19).http://www.travelweekly.co.uk/articles/322985/norwegian-sale-scuppered-amid-brexit-uncertainty
Who was the bidder who got cold feet? IAG? Thus the sale of its shareholding? SAS wanting to eliminate a competitor?
It also raises the question if Norwegian has grown too large to fail. It the airline did go bust there would be a very large gap in services in Europe above all.
Are we going to see another quick-fire sale as was the case with Air Berlin´s demise?Let us hope this mess is sorted out as soon as possible for the benefit of employees and passengers above all.
4 Feb 2019
at 21:27
canuckladParticipant[quote quote=917485]It also raises the question if Norwegian has grown too large to fail. It the airline did go bust there would be a very large gap in services in Europe above all.[/quote]
I just wonder if the Norwegian management team are up for it…….
I’m not an expert in aviation management, but it seems to me that the industry is littered with corpses of airlines that have unnaturally grown beyond their market share too quickly.
Further , in the past when that expansion started to ruffle feathers of competitors, particularly the legacy airlines your chances of survival diminish. It must be worse now, when the competitors aren’t just those legacy carriers , but ruthless well established low cost carriers.A real shame, and a disappointment that they’re closing their EDI base. Was very impressed with them.
5 Feb 2019
at 09:47
ImissConcordeParticipantThe cutting back continues.
https://www.ttgmedia.com/news/news/norwegian-air-confirms-sale-of-two-airbus-a320neo-aircraft-16874
5 Feb 2019
at 20:44
transtraxmanParticipant“Norwegian Air reports second successive year of deep losses”
Travel Weekly 7-2-19passenger numbers up 13%
load factor up to 85.8%
revenue up 30%
unit costs decreased 14%
net loss decreases 19% but still very large at NOK 1.5 billionSo a glimmer of hope on the horizon.
But irritatingly Norwegian does not mention these financial results on its website – or if they are then they are not easy to find.
8 Feb 2019
at 10:09
Jenni ReidKeymasterYou can see some of those figures here –
https://media.uk.norwegian.com/pressreleases/norwegian-presents-2018-full-year-results-and-the-strategy-for-returning-to-profitability-2833546There are also its investor presentations floating around on its website which are quite interesting to read.
8 Feb 2019
at 11:35
AMcWhirterParticipantThat 737 MAX which has been stranded in Iran since December 14 is expected to be on the move soon.
20 Feb 2019
at 21:38
canuckladParticipantMaybe the lesson here is quite simple…..and maybe the experts can confirm this ?
Has any LCC carrier succeeded in the long term, when they have chosen to fancy themselves as both long haul and short haul carriers ?
Migrating to a mixed fleet, choosing to ruffle the feathers of the bigger stronger birds on routes that have rich pickings ?
Can’t immediately think of one that comes to mind, and possibly why the original cuckoos of the LCC world (Southwest & Ryanair) have feathered their own nests from their own large local neighbourhoods
21 Feb 2019
at 09:24
AMcWhirterParticipant[quote quote=920010]Has any LCC carrier succeeded in the long term, when they have chosen to fancy themselves as both long haul and short haul carriers ?[/quote]
canucklad – The jury is still out with Norwegian, Air AsiaX and Scoot.
It remains to be seen how long these three will continue to operate really long-haul flights. Much depends I feel on demand and the cost of fuel.
For example:
* Norwegian remains a major transatlantic operator not just from the UK but also from mainland Europe too. Its B787 service linking Scandinavia to Bangkok continues to operate after many years. And Norwegian now operates to Latin America.
* Scoot continues with its services from Singapore to Athens and Berlin
* Air Asia X never did return to Europe after it retreated in 2012. The boss keeps on saying his airline will return … but nothing ever happens. But Air Asia X does fly to Honolulu and the boss does talk about extending the route to the US West Coast.
I say “really long-haul” because both Air Asia X and Scoot fly to Australia / Japan which we would classify as long-haul although (in SE Asia) they would be viewed as “regional.”
21 Feb 2019
at 15:10
AMcWhirterParticipantSome good news for Norwegian.
That B737MAX which had been stranded in Shriraz since mid-December has been repaired.
It arrived home in Stockholm yesterday afternoon.
24 Feb 2019
at 13:37 -
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