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Norwegian air

  • 01-03-2020 12:42am
    #1
    TomSweeney
    Registered Users Posts: 3,192 ✭✭✭


    Whats the story with Norwegian air, I know they were in trouble even before this virus outbreak, but I read somewhere they had some bond deal that would make them stable at least till the autumn of this year .


    Now some people are saying they will be gone under in a few weeks ?

    What you reckon ?


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Comments

  • #2
    Locker10a
    Moderators, Society & Culture Moderators Posts: 4,131 Mod ✭✭✭✭Locker10a


    Do you have flights booked with them?
    It’s hard to know tbh, Norwegian have been on deaths door for years now it seems, airlines that appeared to struggle less have disappeared faster, like Monarch and Thomas Cook, but the likes of Flybe and Norwegian seem to get by somehow


  • #3
    TomSweeney
    Registered Users Posts: 3,192 ✭✭✭TomSweeney


    Yes, booked to Oslo and on to Narvik in July ..


  • #4
    Tenzor07
    Registered Users Posts: 8,375 ✭✭✭Tenzor07


    All the big airlines such as the IAG group, Easyjet and Ryanair won't escape from the CV crisis... So it won't be just Norwegian...


  • #5
    Locker10a
    Moderators, Society & Culture Moderators Posts: 4,131 Mod ✭✭✭✭Locker10a


    Tenzor07 wrote: »
    All the big airlines such as the IAG group, Easyjet and Ryanair won't escape from the CV crisis... So it won't be just Norwegian...

    Sure, it will affect them all but IAG group, Ryanair and Easyjet all have very healthy balance sheets, Norwegian don’t


  • #6
    Tenzor07
    Registered Users Posts: 8,375 ✭✭✭Tenzor07


    Locker10a wrote: »
    Sure, it will affect them all but IAG group, Ryanair and Easyjet all have very healthy balance sheets, Norwegian don’t

    Well, if it's the vultures circling and looking for blood as they usually do around Norwegian air then you're right....

    ...I dare say a few on the forum will be around with plenty of gleeful "I told you so's" if and when that happened...


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  • #7
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,479 Mod ✭✭✭✭L1011


    Tenzor07 wrote: »
    Well, if it's the vultures circling and looking for blood as they usually do around Norwegian air then you're right....

    ...I dare say a few on the forum will be around with plenty of gleeful "I told you so's" if and when that happened...

    When it comes to Norwegian, predicting they'll hit the wall is just getting towards stopped clock levels of claiming to be right

    I'm quite sure they'll go bankrupt eventually too, but I've had that opinion since the 787 grounding and it hasn't happened yet, so I have no grounds for told-you-so!


  • #8
    Tenzor07
    Registered Users Posts: 8,375 ✭✭✭Tenzor07


    L1011 wrote: »
    I'm quite sure they'll go bankrupt eventually too, but I've had that opinion since the 787 grounding and it hasn't happened yet, so I have no grounds for told-you-so!

    Hold on in there, you'll get your reward.... eventually....


  • #9
    Locker10a
    Moderators, Society & Culture Moderators Posts: 4,131 Mod ✭✭✭✭Locker10a


    Tenzor07 wrote: »
    Hold on in there, you'll get your reward.... eventually....

    I don’t think anyone here will be claiming any reward , that’s a silly comment, Norwegian’s financial struggles have been well reported in the media over the past year, the status of their business viability isn’t hearsay or opinion it’s know facts and figures, they’re doing their best to survive, market conditions outside their control may prove to much or they may not, time will tell


  • #10
    TomSweeney
    Registered Users Posts: 3,192 ✭✭✭TomSweeney


    Like I mentioned they did have some bond deal (whatever that means) that was supposed to shore up finances for a year or so (last September 2019) so I was thinking it be safe till Autumn this year at least - it is just kicking the can down the road, now I don't know markets and whether or not this bond deal will still hold despite the CV19 situation.


  • #11
    TomSweeney
    Registered Users Posts: 3,192 ✭✭✭TomSweeney


    Flybe gone .... only a matter of time I fear ...


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  • #12
    Coil Kilcrea
    Registered Users Posts: 215 ✭✭Coil Kilcrea


    It’s unlikely that any financial modelling would factor in the fall in loads that will result from this virus.

    I hope they survive. To have struggled for so long and to have endured through it all is admirable.

    This is beyond the realms of the free market.


  • #13
    TomSweeney
    Registered Users Posts: 3,192 ✭✭✭TomSweeney


    https://twitter.com/Fly_Norwegian/status/1235476145052635136?s=20

    hmmm optimistic ...


  • #14
    Van.Bosch
    Registered Users Posts: 2,843 ✭✭✭Van.Bosch


    TomSweeney wrote: »
    https://twitter.com/Fly_Norwegian/status/1235476145052635136?s=20

    hmmm optimistic ...

    Doesn’t actually say anything of substance at all!


  • #15
    Tenzor07
    Registered Users Posts: 8,375 ✭✭✭Tenzor07


    TomSweeney wrote: »
    Yes, booked to Oslo and on to Narvik in July ..

    By credit card or your debit card?


  • #16
    theunforgiven
    Registered Users Posts: 144 ✭✭theunforgiven


    Sorry to jump into this thread but I'm due to fly to Dublin,from Stockholm via Oslo in June.
    Paid by credit card.


  • #17
    Tenzor07
    Registered Users Posts: 8,375 ✭✭✭Tenzor07


    theunforgiven wrote: »
    Sorry to jump into this thread but I'm due to fly to Dublin,from Stockholm via Oslo in June.
    Paid by credit card.

    If you paid by CC and NAI go under then you can claim a refund off your CC company...


  • #18
    theunforgiven
    Registered Users Posts: 144 ✭✭theunforgiven


    Tenzor07 wrote: »
    If you paid by CC and NAI go under then you can claim a refund off your CC company...

    Thanks.
    That's some consolation. The only thing, direct flights with SAS on the same day is $1,300 for the 4 of us. Might cancel the outbound flights if they do go under and not go at all.

    That's if flights aren't ground with the virus.


  • #19
    wetoutside19
    Closed Accounts Posts: 56 ✭✭wetoutside19


    Tenzor07 wrote: »
    If you paid by CC and NAI go under then you can claim a refund off your CC company...

    You might want to caveat your advice to say that there is a time limit which starts ticking after you book (I understand 120days with most credit card providers)


  • #20
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,479 Mod ✭✭✭✭L1011


    Changed a few years ago to 120 days after date of intended service to cover this and concerts etc.


  • #21
    theunforgiven
    Registered Users Posts: 144 ✭✭theunforgiven


    Anyone have any idea when those who have booked flights will be informed that their flight is one of the cancelled ones?


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  • #22
    TomSweeney
    Registered Users Posts: 3,192 ✭✭✭TomSweeney


    Tenzor07 wrote: »
    By credit card or your debit card?
    Credit Card ... and +1 to that question about being notified about being one of the 3k flights cancelled ?


  • #23
    TomSweeney
    Registered Users Posts: 3,192 ✭✭✭TomSweeney


    From their website
    Information on upcoming cancellations
    Due to the COVID-19 situation, Norwegian is preparing to cancel approximately 3000 flights between mid-March and mid-June.

    Please note: At this point we don’t yet have information available on which flights will be affected, but we will be contacting customers directly via SMS and email as soon as we have confirmed notifications.

    https://norwegian.custhelp.com/app/answers/detail/a_id/147/traffic-information


  • #24
    theunforgiven
    Registered Users Posts: 144 ✭✭theunforgiven


    Received an email telling me I can cancel my flights and be reimbursed in cash points...WTF...I'd like to get the refund back on my credit card..who knows when it'll be safe to leave the country again this year.
    Anyone else receive their email...


  • #25
    Brian CivilEng
    Registered Users Posts: 1,012 ✭✭✭Brian CivilEng


    I got the same email. Trip to Norway planned in May for a family wedding. Don't think I'll be taking them up on the offer...


  • #26
    theunforgiven
    Registered Users Posts: 144 ✭✭theunforgiven


    abitofacomedian wrote: »
    I got the same email. Trip to Norway planned in May for a family wedding. Don't think I'll be taking them up on the offer...

    Any idea on how we can get our money back onto our cards rather than cash points, basically a voucher for flights that will no doubt have an expiration date.


  • #27
    JohnC.
    Registered Users Posts: 3,370 ✭✭✭JohnC.


    theunforgiven wrote: »
    Any idea on how we can get our money back onto our cards rather than cash points, basically a voucher for flights that will no doubt have an expiration date.

    That, and there's no way to be sure they will still exist by the time this blows over.


  • #28
    theunforgiven
    Registered Users Posts: 144 ✭✭theunforgiven


    JohnC. wrote: »
    That, and there's no way to be sure they will still exist by the time this blows over.

    Exactly,bit of a scam, offering cash points with the company and the aviation industry on such shaky ground.


  • #29
    Coil Kilcrea
    Registered Users Posts: 215 ✭✭Coil Kilcrea


    Did I read somewhere that the Norwegian government stepped in to safeguard the airline?


  • #30
    SAM SO NITE
    Site Banned Posts: 221 ✭✭SAM SO NITE


    Coil Kilcrea wrote: »
    Did I read somewhere that the Norwegian government stepped in to safeguard the airline?

    they look bollocksed by all accounts


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  • #31
    Coil Kilcrea
    Registered Users Posts: 215 ✭✭Coil Kilcrea


    SAM SO NITE wrote: »
    they look bollocksed by all accounts

    In fairness to them, they provide a very good service and have fought hard to compete against much bigger competitors. True, you could argue the market will sort out the weak but in this case, on merit and jobs created, they deserve to succeed. I know they raised money through bonds which might have been sufficient but then they too got hammered by the Max fiasco.

    All of the airlines will need government intervention to some extent because the scale of this crisis will over power even the strongest of balance sheets and you simply cannot throw all these people on the street. Much smarter and sensible to provide some temporary financial support to weather the storm. I'm thinking the Norwegian government is smart enough to do something.

    Finally, IAG's $7 Billion and Ryanair's $4 Billion in cash reserves would normally be more than enough to handle any crisis but this is bigger than anything we ever imagined.


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