Europe's third largest low cost carrier, Norwegian Air, stated that it will keep most flights grounded till April 2021.
According to The Guardian, Norwegian is continuing to persuade its shareholders to accept a rescue plan that is backed by the government that will wipe out most of their investments.
According to The Points Guy, the airline is also asking its investors to provide a lifeline before the airline runs out of cash in mid-May.
As of today, about 95% of Norwegian's fleet is still grounded and the airline stated it doesn't expect to resume its long-haul international services until at least the summer of next year.
Also, despite the airline's plans to gradually restart its short haul and long haul flights next year, they believe that they will not be able to return to their normal operations until January of 2022. The airline says that it will plan to Focus on the most Top Tier Destinations such as New York-JFK, London Gatwick and Los Angeles.
The airline continues to seek a loan from the Norwegian government that is worth approximately 2.7 billion Norwegian Crows or 270 million U.S dollars.
Last week, the airline's Swedish and Danish subsidiaries filed for Bankruptcy.
Norwegian is just one of the many carriers that are being heavily affected by the COVID-19 crisis. Although the extent of damage caused by the virus varies between airlines, the economic impact caused as a result of the pandemic will continue to make it difficult for all airlines to stay afloat.
Recently, Virgin Australia and Air Mauritius entered "Voluntary Administration."
Credits: The Points Guy and The Guardian
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