4KBW
Legal 500

News & Articles

Norwegian Airlines losses revealed.

17-May-2019
17-May-2019 18:43
in Aviation and Travel
by 4KBW

Norwegian airlines suffered a loss of £133.5 million in the first quarter of 2019. They are reassessing their financial situation since the impermanent global ban was incorporated on MAX 8 operations as the aircraft was involved in two accidents in a short space of time.

The airline currently has eighteen 737 Max 8’s and several deliveries have been placed on hold.

The chief executive of Norwegian Airlines said, he has numerous meetings with BA to discuss the negative effects on grounding to eliminate the problems the MAX 8 is causing Norwegian Airlines and the wider industry. He also stated the airline has been doing everything to ensure flights are carried out as normal by using wet lease companies when needed. 

After suffering such a drastic loss, the airline intend to recover their profits margins by running an extensive cost-reductions programme and the sale of an, as yet undetermined, aircraft,

Currently, the airline express positivity in their new implementations this quarter despite suffering 737 Max problems. They indicate they have taken serious measurements in increasing profitability.

© 2019 Whitestone Chambers
www.whitestonechambers.com
law@whitestonechambers.com