Norwegian gives itself five weeks to prepare new business plan

Norwegian airplanePhoto: Ørn E. Borgen - NTB
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Norwegian will likely have to decide how many aircraft they will keep on – if the company survives the bankruptcy protection – by January 22.

Norwegian’s lawyers appeared before the court in Ireland on Friday, which deals with bankruptcy protection for several of Norwegian’s Irish subsidiaries. 

The companies own, among other things, all the 140 aircraft in Norwegian’s system, according to the newspaper Dagens Næringsliv.

In court, the company stated that it is working on a new business plan. 

The plan will describe in detail what Norwegian will look like if the legal process is successful, and investors will inject fresh capital.

Norwegian’s manager in the process, Kieran Wallace from the auditing giant KPMG, will present the business plan at a court hearing on January 22, Yahoo News reports.

That means that Norwegian’s management gives itself five weeks to carve out which aircraft they want to include in the “new” Norwegian, DN notes.

© NTB Scanpix / #Norway Today

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