More than 1,000 workers at Gatwick Airport are to lose their jobs as Norwegian Air axes its long-haul operation.
The cash-strapped carrier has announced it is abandoning long-haul flights, many of which fly out of the airport in Crawley, West Sussex.
The move will lead to the loss of 1,100 pilot and cabin crew jobs based at Gatwick Airport.
The low-cost transatlantic airline has faced a battle for survival after being badly hit by the economic downturn caused by the coronavirus pandemic.
The cash-strapped carrier has announced it is abandoning long-haul flights, many of which fly out of the airport in Crawley, West Sussex
Bank Norwegian AS: Approval of new company structure
January 06, 2021 02:30 ET | Source: Bank Norwegian AS Bank Norwegian AS OSLO, NORWAY
Reference is made to previous announcements regarding MREL and the decision from the Board of Directors to apply to the Norwegian Financial Supervisory Authority (FSA) to merge Norwegian Finans Holding ASA and Bank Norwegian AS. The Norwegian FSA has on 5 January 2021 approved an application on the new company structure, leaving Bank Norwegian AS the ultimate parent company of the group after a merger. We are pleased to have received this approval, as a merger is expected to give positive synergies on administrative costs as well as reduce funding cost on future MREL eligible capital being issued from an operating company instead of a holding company.
Bank Norwegian AS: Updated MREL requirement for Norwegian Finans Holding ASA globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.