Norwegian’s creditors could lose 64 billion kroner in case of bankruptcy

Norwegian plane aircraftPhoto: Gorm Kallestad / NTB
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Norwegian’s bankruptcy could generate enormous losses for creditors, a report from Deloitte notes.

A report by the international auditing company Deloitte has prepared on behalf of Norwegian points to potentially massive losses for creditors. 

According to the report, after Norwegian’s airplanes are sold, the creditors’ loss would amount to EUR 5.98 billion. 

That corresponds to close to NOK 64 billion, according to E24.

The Irish newspaper Irish Times received the report presented to judge Michael Quinn in Dublin on Wednesday this week. 

Running out of cash

According to the Irish Times, in its report, Deloitte writes Norwegian will run out of cash by March of 2021.

E24 has requested a comment from Norwegian in connection with the report.

“We have nothing more to add beyond what we announced in connection with the press conference and the stock exchange announcements,” press contact Christer Baardsen wrote in an email on Saturday afternoon.

© NTB Scanpix / #Norway Today

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