The restructuring plan of the insolvent low-cost airline Norwegian Air Shuttle has now also been confirmed by a Norwegian court. The Irish judiciary had previously given the go-ahead. The group is currently in bankruptcy and / or bankruptcy proceedings in various countries.

The creditors have also given the green light in Norway. Now Norwegian Air Shuttle wants to collect fresh money from investors. You need this in order to be able to carry out the restart in a stable manner. Both decisions also depend on the fact that at least 450 million euros come into the box, otherwise both court decisions are null and void.

Norwegian was already considered highly indebted before the corona pandemic. The group expanded at breakneck speed and got off the ground massively. The growth was financed to a not inconsiderable extent with debt. The long haul is completely abandoned. In the future, they want to be a “better regional airline” and concentrate on destinations in the Scandinavian region and Europe. According to the announcement, the maximum fleet size should be around 50 Boeing 737-800s.