It is still early days, but the deep and painful restructuring at Norwegian seems to be bearing fruits. The low-cost airline, much reduced in size compared to the pre-Covid era, reported some positive results on August 31. It even thinks that growth is on the agenda already for next year. Restructured Norwegian slowly getting back on track.
Remember the state Norwegian was in back in early 2020: heavily indebted at NOK 58.2 billion, far too optimistic growth and fleet plans, and on the brink of collapse and insolvency. It entered examinership in Ireland and filed a reconstruction plan in Norway to refocus on cost reductions and, more importantly, restructure its balance sheet and debts.
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