Connect with us

Coronavirus

Norwegian completes restructuring and secures state aid

Published

on

It should be seen as a positive step forward, but for thousands of staff who lost their jobs there is still a lot of uncertainty over future roles.

Airline Norwegian has confirmed that a restructuring plan they undertook has now completed and that the state loan guarantee of in total NOK 3 billion (£245M) has been approved. The company has now converted NOK 12.7 billion (£1.03B) of debt to equity and laid a solid foundation for the future, although the next months will remain challenging.

CEO Jacob Schram said:

“I want to thank everyone who has supported the company during this unprecedented crisis that has affected the entire the airline industry: The Government and Parliament; customers; employees: shareholders; leasing companies; creditors; bondholders, the travel industry and other Norwegian supporters.

Now that we can access the state loan guarantee, we can continue to transform the company. Through this process, the belief in New Norwegian and the company’s strategy have been confirmed by shareholders, the market, bondholders, leasing companies, other creditors and lenders. Nevertheless, the months ahead will remain challenging and with a high degree of uncertainty for the industry. Norwegian will still need to collaborate closely with a number of creditors as the company currently has limited revenue.”.

Since the end of 2018, Norwegian has taken significant actions to restructure its operations and return to profitability. The company was on the path to deliver a positive net profit in 2020, and this summer was set to be the strongest in the company’s history. Instead, the coronavirus outbreak and global travel restrictions has led to a substantial drop in demand.

The Company has seized this time as an opportunity to restructure and develop a new strategy and business plan – New Norwegian – for a strengthened airline to re-emerge when travel restrictions are lifted and demand returns.

Schram added:

“In addition to securing that the company survives this crisis, our goal has been that Norwegian should have a strong position in the future airline industry, with a clear direction and strategy. This will ensure sustainable operations and a structure that will be to the benefit of both shareholders, customers and colleagues.”

Coronavirus

BREAKING NEWS: Coronavirus cases jump 200% in one week across Crawley

Published

on

On Monday 14th Sept the new “rule of six” comes into force across England with news breaking today that children under 12 will not be exempt from it.

The new rules mean people are limited to meeting in groups no larger than six people both indoors and outdoors.

The rule ‘could’ potentially be coming slightly too late as new figures for Crawley reveal a 200% jump in recorded cases in just one week.

People need to realise the harm it can do you without putting you directly in hospital

Data from the UK public health bodies shows that in last week (2nd – 8th Sept) there were 15 NEW cases reported in Crawley. This number does not seem a lot but when compared to the week(s) before it shows a dramatic jump.

In only the previous week there were only 5 new cases reported, with 4 separate days reporting no cases at all.

But in the past week this figure jumped with 8 reported in one day alone.

So far the worst single day for reported cases in Crawley was back on the 28th April when 19 cases were reported in a day.

To date, since recording began there have been 502 cases, with 77 of these resulting in death.

As more parts of the UK are also having to deal with stricter lock down restrictions Crawley remains below the national average of cases per 100,000 at 13. The national average is currently 18.

The towns neighbour, Horsham, saw an even greater rise of 360% with 23 cases reported between 2-8 Sept.

Across the UK an additional 3.497 cases were reported in the past 24 hours, an increase of 36% on the same day a week ago, taking the total to 365,174.

A local doctor, who asked to remain anonymous, said her and her colleagues were very worried about how too many people were downplaying the risk of infection.

“I hear every day some people talking about how the number of people in hospital through Covid are so low so we shouldn’t worry about the number of cases increasing – but we should. People need to realise the harm it can do you without putting you directly in hospital.”

But questions on how the new rules will be enforced are still not clear with new statements released from the Police that talk about ‘engaging, encouraging and explaining’ before even considering taking any action.

A source close to Sussex Police has told Crawley News 24 that there is both confusion and dismay within the ranks about who and how officers are going to contend with issues of larger groups than allowed meeting up, while juggling the increase of daily issues that are returning since the full lockdown.

Another source said they were awaiting a full outline of what powers the police really will have on Monday (14th Sept) before officers would be given full guidance on what they should do.

Sussex Police told Crawley News 24:

“As we start to see a rise in infections it is vitally important that we all follow the regulations and restrictions in place to prevent the spread of Coronavirus.

Everyone has a role to play limiting the outbreak by following the regulations, including those about gatherings which will be limited to six people both indoors and outside when the new legislation comes into force on Monday 14 September.

People need to take personal responsibility for their actions, in particular during this heath emergency, and this includes adhering to the latest government guidance.

Sussex Police will continue its approach of engaging, encouraging and explaining the current regulations and only taking enforcement action when necessary. “

Only 1 week after schools reopen, a couple of weeks after a house party alarmed residents in the town, (and Crawley Council confirming they were investigating the event), and new rules coming into force, all eyes will now be set to see just how well the town responds to the new measures and whether the rise is just a ‘blip’ or if it is a sign of a returning rise.

Continue Reading

Trending