Norwegian Air files for bankruptcy protection in Ireland
Low-cost airline to continue reduced flight schedule and shares will still be traded in Oslo
Low-cost airline Norwegian Air has filed for bankruptcy protection in Ireland, becoming the biggest casualty of the coronavirus pandemic in the aviation sector to date.
The troubled carrier has asked an Irish court to carry out a process of examinership. This should protect the group’s assets while it tries to slash debt levels and find new funding as part of a restructuring. It is expected to take as long as five months.