Forbes reports Norwegian Airlines releases details on restructuring

Forbes has reported Norwegian Air plans to make substantial changes to its business model if it survives its battle against bankruptcy, the news source said.

Passengers can expect fewer routes on fewer aircraft. The revised strategy would see Norwegian´s fleet of Boeing aircraft reduced by one-third.

Norwegian bosses today announced more details on the company´s proposed restructuring package, which asks creditors to forego large amounts of debt in exchange for shares. Existing shareholders would see their shareholding substantially diluted.

Management also revealed some details on the proposed future strategy once coronavirus travel restrictions are lifted and travel demand returns.