By Matthew Roscoe • 09 November 2020 • 11:36
NORWEGIAN AIR is set to suffer as the government rules out giving them more support.
The Norwegian government has announced on Monday, November 9, that it will not be providing any more additional financial support for pandemic-hit Norwegian Air.
The decision leaves the cash-strapped carrier in a precarious situation after being hit hard by the coronavirus crisis and having to ground most of its fleet.
Norwegian Air said in August that it would run out of cash in the first quarter of 2021 unless it could secure fresh funds and has held talks with the government in the hope of winning support.
Industry Minister Iselin Nyboe told a news conference: “It is a tough message to get. But we are answerable for the responsible use of public funds.
“Norwegian Air has a financial structure that makes it risky for us to go in with support. It was not defensible.”
Norwegian Air Chief Executive Jacob Schram said: “That the government has decided to reject the request for funds is disappointing and feels like a punch in the gut for everyone at Norwegian.”
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Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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