Business

Airline revenues to nosedive by 55% in 2020: IATA

Airline passenger revenues are set to plunge by 55 percent, or $314 billion, in 2020 due to the coronavirus pandemic, the International Air Transport Association said Tuesday.

Business

Norwegian Air to get government loan in restructuring

Norway's government said Friday it will give low-cost carrier Norwegian Air Shuttle a 1.5 billion kroner ($173 million) loan as long as the ailing company manages to raise at least 4.5 billion kroner ($520 million) from other ...

Business

Restructuring Norwegian Air to get government support

Norway's government said Thursday it will help ailing low-cost carrier Norwegian Air Shuttle - a U-turn from its previous refusal to do so - as long as the company manages to raise 4.5 billion kroner ($529 million) from other ...

Business

Norwegian Air to end long-haul flights, focus on Europe

Low-cost carrier Norwegian Air Shuttle said Thursday it will focus on European destinations and close its long-haul operations as it struggles with the fallout of the coronavirus pandemic and debt restructuring.

Business

Low-cost Norwegian Air Shuttle files for bankruptcy protection

Fighting for survival, low-cost Norwegian Air Shuttle filed for bankruptcy protection in Ireland on Wednesday for two of its main subsidiaries in a bid to shield itself from creditors long enough to find a solution for a ...