Restructuring Update 4 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Boeing deal unlikely before restructuring over - CFO
Detailed plan expected next week (Adds detail on aircraft orders)
OSLO, Feb 26 (Reuters) - Norwegian Air booked an impairment charge of 12.8 billion crowns ($1.5 billion) in the fourth quarter as it cancelled a major Airbus order and plans to shrink its current fleet to avoid bankruptcy.
Norwegian received protection from bankruptcy late last year in both Norway and Ireland, where most of its assets are registered, and it aims to come out of its restructuring process with fewer aircraft and less debt.
“We are doing everything we can to emerge as a more financially secure and competitive airline with an improved customer offering,” Chief Executive Jacob Schram said on Friday. ....

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