Norwegian shareholders agree with the airline’s current survival plan. The low-cost airline has decided to covert its debt into equity (the sum of your assets once your debt has been subtracted from it) and relaunch operations in 2021 with a smaller fleet and a reduced amount of destinations. The airline now has the ability to access what is left of its $288 million bailout package from the Norwegian government. 95 % of its shareholders have approved of this plan. Norwegian anticipates that it will not recommence “normal operations” until 2022. Most airlines who have been in the same situation as Norwegian have reacted in the same fashion. It is always a good idea to restart small and then pick up the pace. And don’t worry… part 4 of my series on the Boeing 737 is coming soon. For more information, please go to https://www.flightglobal.com/strategy/norwegian-shareholders-approve-survival-plan/138206.article . 4th of May 2020.
Aeronews24 