Norwegian Air budget airline carried 60 percent fewer passengers in March compared to last year. Due to the pervasive new corona virus, the airline was forced to gradually keep more of its aircraft on the ground.
In the near future, Norwegian is expecting 85 percent of its scheduled flights to be cut due to travel restrictions and less demand for tickets. About 90 percent of the staff will be sent home. To survive, airline has turned to the Norwegian government for emergency aid. Earlier, low-coster said it would talk to creditors about suspension of payments.
Before the outbreak of the virus, Norwegians were hopeful that 2020 would end with a profit, after three years of loss-on-loss accumulation. This target was thrown overboard in early March. On March 13, the company warned that it needed access to cash.
“Within weeks and not months,” added CEO Jacob Schram at the time.