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Norwegian Air stock plunges as government turns back on cash-strapped airline

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Shares in Norwegian Air Shuttle (NO:NAS) plunged almost 20% on Monday, after the cash-strapped carrier warned it was facing a “very uncertain” future. Norway’s government said it wouldn’t provide additional financial support, leaving the low-cost airline once again fighting for its survival. “The fact that our government has decided to refrain from providing Norwegian with further financial support is very disappointing and feels like a slap in the face for everybody at Norwegian (UK:0FGH) who… (www.msn.com) More...

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patpylot
patrick baker 3
considering the number of passengers Norwegian carried to and from Norway, and the resulting economic impact, could the government have made an oversight here?
musephoto
Geoff Rowe 1
Very definitely yes, my wife and I flew them for the first time last Christmas/New Year, LA to Gatwick and we were impressed at the service and the fact that their aircraft are practically brand new.

We would definitely have flown with them again but... you know, that thing that happened this year.
royhunte92
Roy Hunte 2
In reading the article, the original bailout was with the understanding that they would cut size to a small domestic carrier, bit they continued expanding and opening new markets, so I'm not surprised.
mbrews
mbrews 1
- Well, no tears being shed by SAS staff (Scandinavian Air), eh. Does seem to be a zero sum game with traffic so low. US carriers like United shedding no tears if a competitor leaves the trans-Atlantic market.

Maybe United should offer to buy Norwegians nearly-new 787s at a bargain price ? Would make an interesting case, but only if GE offered a good price to re-engine the Norwegians 787s (originally have Rolls engines). Supposedly Boeing made mechanical and electrical designs to allow such an engine swap

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