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Mortyman
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Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 7:18 am

Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement, according to a report Tuesday.

According to the report, the company will now change its strategic focus from growth to profitability, and will capitalize on the market position and size they have built up in recent years.

As a result of the changed focus, investments will be reduced, which must be done by a combination of sales of aircraft and delays in deliveries.

In the report, Norwegian states that a number of measures will help to reduce costs:

· Sale of aircraft and possible establishment of a new owner company for parts of the aircraft park

· Postponement of aircraft deliveries

· The cost program # Focus2019, where the goal is to reduce costs by at least NOK 2 billion in 2019

· Optimization of base structure and route program

· Compensation from engine manufacturer Rolls Royce related to engine problems on the company's Dreamliner operation

The issue will be dealt with at an extraordinary general meeting on 19 February.

https://newsweb.oslobors.no/message/468223

https://www.hegnar.no/Nyheter/Boers-fin ... nte-penger

https://www.dn.no/marked/norwegian-fyll ... 2-1-529939

https://media.uk.norwegian.com/pressrel ... on-2829452
 
Someone83
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 7:24 am

Bjørn Kjos and companies related to him will contribute with approx 400 MNOK of the 3 BNOK, ie approx 13%, meaning their ownership share will be diluted

BTW: 3 Billion NOK is approx 350 million USD (or 310 million EUR)
 
oslmgm
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 9:12 am

At today's press conference Bjørn Kjos said that some of the airplane deliveries will be slowed down. He didn't go into details, but he said it will include more than one type of airplane, and my impression was that it involved both Boeing and Airbus. He said that Norwegian will receive 5 more Dreamliners this spring, and then the last 5 in 2020. The longhaul expansion is then finished. (I don't know the original plan, but it sounded like this had been the plan all the time.) As far as I can understand, it must be deliveries of both 737MAXs and A320 that will be slower than initially planned. He didn't give any details, other than saying that the MAXes are not really an expansion, they're just swapping NGs for new MAXes.

There was a model of an A321 on display at his table, but none of the journalists asked about it, and Kjos didn't say anything about it.
 
arcticcruiser
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 10:31 am

Shares dropped by a third initially this morning, currently about 12% down.https://www.hl.co.uk/shares/shares-search-results/n/norwegian-air-shuttle-asa-nok0.10

But of course Mortyman would´nt mention that.
 
81819
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 10:39 am

What was their loss for the year? I suspect that may have impacted the share price
 
a350lover
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 11:10 am

Mortyman wrote:
· Optimization of base structure and route program


Have we seen it all? What may be coming next?
 
AF022
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 11:15 am

Didn't i read that they cut EWR-ORY on another thread? They need to reduce flights even more. They can't possibly be making money in most transatlantic markets even with high load factors.
 
Mortyman
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 11:19 am

arcticcruiser wrote:
Shares dropped by a third initially this morning, currently about 12% down.https://www.hl.co.uk/shares/shares-search-results/n/norwegian-air-shuttle-asa-nok0.10

But of course Mortyman would´nt mention that.



At the time of writing my initial post, that info was not ready. The Oslo Exchange was not open.


But yes, it was down 30 % earlier today but was going up again. Last time I checked I think it was down 12 %


Besides there are others here that follow Norwegian with interest.
 
a350lover
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 11:23 am

I suspect they are soon to announce further flight reductions and a model less "dispersed".

In my own opinion, this might mean:

-European routes which are to be operated from PMI via MAD crews. If the routes are underperforming and the base is closing, why would you want to pay the extra cost of sending crews on layovers there?
-Barcelona and Rome long haul bases. Least yielding markets for the 787-9 of 344 seats. Paris?
-Most of the 737Max operation, including routes to the UK (EDI) and Norway (Bergen).
 
Someone83
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 11:36 am

travelhound wrote:
What was their loss for the year? I suspect that may have impacted the share price


EBITDA: -2,2 billion NOK
EBIT: -3,8 billion NOK

a350lover wrote:
Have we seen it all? What may be coming next?


Thare has to be more cuts if they should manage their promised cost cuts
 
FatCat
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 11:42 am

Mortyman wrote:

According to the report, the company will now change its strategic focus from growth to profitability, and will capitalize on the market position and size they have built up in recent years.


I miss the point - was Norwegian just expanding its network without paying attention to the profitability of the routes?
Opening a route before a profitability forecast isn't dangerous? I mean - you can open as many routes you want, but if no one flies on them, or you have full planes, but low fares, strong competition, etc. make them not profitable, isn't better to close them out and aim for profitable routes?
Thanks to all kind answers
Aeroplane flies high
Turns left, looks right
 
a350lover
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 12:05 pm

Sounds a bit crazy, but it actually makes sense if you analyze the moves of Norwegian over the last three-two years. They were desperately focused on expanding and getting global, and that was done at the cost of profitability. I always said they need an industrial partner so that they could get a nice balance between growth and finances. Maybe they've just noticed that now and they can still do it independently.
 
factsonly
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 12:56 pm

Norwegian Air wants to raise 3bn Norwegian kroner (£268m) through a rights issue to improve its finances. The news comes as the company announced that its preliminary earnings for 2018 showed an operating loss of roughly 3.8bn kroner.

Norwegian is in a race against time. Norwegian has debts of $3.5bn and expects to rack up a sizeable loss for 2018.
The company needs to become consistently profitable, before the money runs out.
But in the second quarter of last year, the Civil Aviation Authority's most recent data, Norwegian was the airline with the second highest number of complaints from UK passengers, of those still in business.

https://www.bbc.com/news/business-47039303
 
mcdu
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 1:00 pm

a350lover wrote:
Sounds a bit crazy, but it actually makes sense if you analyze the moves of Norwegian over the last three-two years. They were desperately focused on expanding and getting global, and that was done at the cost of profitability. I always said they need an industrial partner so that they could get a nice balance between growth and finances. Maybe they've just noticed that now and they can still do it independently.


If Norwegian has “planned” this all along to lose billions, over expand and be on the brink of collapse then they are doing wreckless things with investors money. If you read the fine print this is not a guaranteed plan. They need investors to buy more and basically to use the term from the investment world “catch a falling knife”.

There are no outside investors interested in Norwegian as they have no value. Their balance sheet is wrecked. They are leveraged to the point they will never make money. This is a failing enterprise and while many won’t admit it, Norwegian is not going to survive in any fashion large enough to be profitable. They have way too many debts that are outstanding.
 
Mortyman
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 1:19 pm

Bjørn Kjos and Norwegian has for several years now, Infact from day one, said that such a massive expansion comes with a cost and that it would take time to balance finances and he was correct. Looks like Norwegian will continue to fly for now.
 
mcdu
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 2:15 pm

Mortyman wrote:
Bjørn Kjos and Norwegian has for several years now, Infact from day one, said that such a massive expansion comes with a cost and that it would take time to balance finances and he was correct. Looks like Norwegian will continue to fly for now.


But Bjorn said expansion. However, did he predict the contraction that is taking place? This path that Norwegian is on has been played out over the years by many other carriers that are dead. What investor in their right mind would effectively more than double down to buy more stock in a failed business plan? They have made promises yearly about turning the corner to only face cash crisis after cash crisis. With the IAG bid it may have fooled some to thinking it was a good investment without lookin at the actual P/L.
 
armchairceonr1
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 3:20 pm

There is not any sign of turnround in their business. Q4 EBIT without hedge losses was around -1,8 billion NOK, up over 30% y/y. Q1/19 EBIT is going to be negative over 2,0 billion NOK. They buy some time again, but I don't see much future for them if they doesn't divest their wide body fleet.
 
[email protected]
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 7:55 pm

Their core Norwegian operation is profitable (per data sources at work). It is almost everything else that drags them down.
"Everyone writing for the Telegraph knows that the way to grab eyeballs is with Ryanair and/or sex."
 
kanye
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 9:12 pm

[email protected] wrote:
Their core Norwegian operation is profitable (per data sources at work). It is almost everything else that drags them down.




Do you mean operations in Norway or the old core AOC Norwegian Air Shuttle with whole Scandinavian operations?
 
winginit
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 9:22 pm

mcdu wrote:
There are no outside investors interested in Norwegian as they have no value. Their balance sheet is wrecked. They are leveraged to the point they will never make money. This is a failing enterprise and while many won’t admit it, Norwegian is not going to survive in any fashion large enough to be profitable. They have way too many debts that are outstanding.


I think this sums it up nicely. The writing was firmly on the wall when IAG dumped their shares, and it's finally time they face the music and start dumping assets.
 
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enilria
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 9:29 pm

FatCat wrote:
I miss the point - was Norwegian just expanding its network without paying attention to the profitability of the routes?

All airlines expanding rapidly lose money. In fact, almost any new route initially loses money often for a year or two. This is true in any business. If you start selling any new product people don't immediately change their behavior. That takes time and you lose while you are developing the market. When you are a big airline you can cross-subsidize from other profitable areas. When you are small and growing fast it is harder to hide. I think B6 capitalized start-up losses when they launched and essentially amortized them over some number of years. Also, they did some tricks with aircraft costs that deferred them until later to help the start-up look better.
There are a lot of strategies for how to deal with it.

mcdu wrote:
However, did he predict the contraction that is taking place?

What contraction is taking place? They dropped EWR-Paris? So? They drop routes all the time. I have yet to see any contraction.
Mortyman wrote:
According to the report, the company will now change its strategic focus from growth to profitability, and will capitalize on the market position and size they have built up in recent years.

This says to me that growth will slow, not anything about shrinking. Pretty much every airline gets to this phase.
Mortyman wrote:
As a result of the changed focus, investments will be reduced, which must be done by a combination of sales of aircraft and delays in deliveries.

This also does not say shrink. Every fleet plan has aircraft sales and even the US3 regularly defer deliveries.

I don't take much from this in terms of bad news. What I do take is that investors feel good enough about Norwegian's plans to give them another $350m in financing if I have the exchange rate correct. I know people on this board love to see LCCs and ULCCs going out of business, but can we at least have a little optimism? Lower fares? Good. More people working in the airline business? Good. Why is there such happiness at any opportunity to cast shadows on LCCs and ULCCs? I guess because A4A doesn't like LCCs, well tough luck they are here to stay. The concept of the low cost start-up carrier goes back before pretty much anybody on this message board was born. It's just the business cycle.
 
winginit
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 9:35 pm

enilria wrote:
This also does not say shrink. Every fleet plan has aircraft sales and even the US3 regularly defer deliveries.


So state your claim then - are you of the opinion that there's a viable path for Norwegian that does not involve shrinking?

enilria wrote:
I don't take much from this in terms of bad news.


Given their stock performance today, I'd say you're firmly in the minority there

enilria wrote:
Why is there such happiness at any opportunity to cast shadows on LCCs and ULCCs? I guess because A4A doesn't like LCCs, well tough luck they are here to stay.


It's not, at least in my case, that I'm partial to a legacy carrier and as a result of that I want to see LCCs and ULCCs fail. Hardly. I'm quick to recognize that there is a market within this industry for LCCs and ULCCs and I'll praise everyone from RyanAir and EasyJet to Allegiant and Frontier for very effectively filling that space with business models that are profitable and sustainable while being of tremendous benefit to consumers.

Norwegian, however, does not, and has not had a business model that is profitable or sustainable since they forayed into international expansion, and we're seeing that collapse right in front of our eyes here. Unsustainable models should not be cheered in this industry.

You've expressed optimism around Norwegian for years now even as their straits have grown increasingly dire. It's time to wake up.
 
oslmgm
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 10:02 pm

winginit wrote:
enilria wrote:
I don't take much from this in terms of bad news.


Given their stock performance today, I'd say you're firmly in the minority there

Isn't a reduction in stock price a natural consequence of any rights issue?
(Bjørn Kjos said so at today's press conference, after he was asked about the stock performance this morning. I'm no expert, but it seemed reasonable to me.)
 
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AirlineCritic
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Tue Jan 29, 2019 10:53 pm

It is great news for DY that they've gotten the additional financing. (Or plan to?)

However, the real issue is whether they need to get this level of injection every 6 or 12 months. That won't be sustainable for long, so the only possible answer is getting the basic flight operations profitable, or at least not losing as massively as they are now. That's a tall order, as much as I like DY. (Their planes are new, there's Internet, operations are decent, ordering easy... and fares are cheap.)
 
FatCat
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Wed Jan 30, 2019 11:35 am

enilria wrote:
FatCat wrote:
I miss the point - was Norwegian just expanding its network without paying attention to the profitability of the routes?

All airlines expanding rapidly lose money. In fact, almost any new route initially loses money often for a year or two. This is true in any business. If you start selling any new product people don't immediately change their behavior. That takes time and you lose while you are developing the market. When you are a big airline you can cross-subsidize from other profitable areas. When you are small and growing fast it is harder to hide. I think B6 capitalized start-up losses when they launched and essentially amortized them over some number of years. Also, they did some tricks with aircraft costs that deferred them until later to help the start-up look better.
There are a lot of strategies for how to deal with it.


Right. It's also right that, in the game of investments, if you don't make any investment, and start invoicing, you can never start covering your costs. So every route, even if loss earning, helps to increase the capital.
But in every business, there is a point beyond which the losses cannot be covered: it's a dog biting his own tail; you have to do more investments to start invoicing and put "money in the pocket", but those new investmens require big earnings to be covered, and those earnings can only be achieved via new investments, and so on.
In the airline business the edge is very thin and once you've passed it, a big crash is imminent, in most cases.
Aeroplane flies high
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Eikie
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Wed Jan 30, 2019 12:42 pm

winginit wrote:
I'm quick to recognize that there is a market within this industry for LCCs and ULCCs and I'll praise everyone from RyanAir and EasyJet to Allegiant and Frontier for very effectively filling that space with business models that are profitable and sustainable while being of tremendous benefit to consumers.


Both Ryanair as norwegian apply shady tactics to (try to) achieve profit, both damaging local economies and employees (Both within and without the company). And for that they need to disappear.
 
Boeing74741R
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Wed Jan 30, 2019 1:00 pm

enilria wrote:
mcdu wrote:
However, did he predict the contraction that is taking place?

What contraction is taking place? They dropped EWR-Paris? So? They drop routes all the time. I have yet to see any contraction.


Here's an example of contraction: last September, Norwegian announced they were axing their TATL routes from both EDI and BFS (in the case of BFS it's a total withdrawal).

https://www.independent.co.uk/travel/ne ... 54671.html

I'd also take Norwegian's accusation about the lack of APD reduction with a pinch of salt when TATL routes from both EDI and other airports operated by other airlines seem to do OK.

As a disclaimer, I take no pleasure in seeing Norwegian struggle financially. I am also not averse to LCC's as I have flown on LCC's in both Europe and the US before and I have a flight with easyJet booked for later this year. I do, however, cast doubt over the viability of what they have been doing given their financial performance in recent years and the fact the constant reports about the state of their finances aren't going away.

There wouldn't be a lot of speculation and counter measures being taken if all was well. That's not to say profitable businesses with plenty of cash in the bank shouldn't review their costs to ensure they're sustainable and at the right levels, and frankly it would be irresponsible for any businesses to not regularly review all costs associated with their business.

Time will tell whether this investment will be enough or if they see fit to invest more money in the future to keep them going.
 
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enilria
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Wed Jan 30, 2019 5:15 pm

Boeing74741R wrote:
enilria wrote:
mcdu wrote:
However, did he predict the contraction that is taking place?

What contraction is taking place? They dropped EWR-Paris? So? They drop routes all the time. I have yet to see any contraction.


Here's an example of contraction: last September, Norwegian announced they were axing their TATL routes from both EDI and BFS (in the case of BFS it's a total withdrawal).

https://www.independent.co.uk/travel/ne ... 54671.html


THERE IS NO CONTRACTION ANNOUNCED AS OF NOW. There may be going forward, but it has not been announced or reflected in what they are selling. Yes, they have dropped routes, but they have added others. EVERY airline does this.

PER OAG
They were selling this many ASMs last Summer for the D8,DI,DY units:
2018 JUN: 5.3B
2018 JUL: 5.8B
2018 AUG: 5.6B

This is what they are selling this Summer:
2019 JUN: 5.7B
2019 JUL: 6.0B
2019 AUG: 5.8B

IT'S UP, not down. Could that change? Yes, but it hasn't as of now. Anything beyond what they are selling is at this point merely a conspiracy theory.
 
Oykie
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Wed Feb 06, 2019 6:04 am

On a semi related note. Easyjet announced yesterday that they are in the marked for 3 billion of bonds to purchase something, or someone. Could it be Norwegian?
Dream no small dream; it lacks magic. Dream large, then go make that dream real - Donald Douglas
 
RexBanner
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Wed Feb 06, 2019 11:11 am

Could be, if they are absolutely insane.
 
WaywardMemphian
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Wed Feb 06, 2019 2:21 pm

Easyjet longhaul from Gatwick, hmmmmmmm. Now that could be a real proposition.
 
RexBanner
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Wed Feb 06, 2019 3:07 pm

As someone else has said, there is no long haul low cost only long haul low fares and that doesn’t make money. That is why Norwegian are failing spectacularly to make any money at it. There is a reason that Ryanair and easyJet aren’t doing it you know. Or do you think Kjos has thought of something O’Leary never spotted. Unlikely.
 
oslmgm
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Wed Feb 06, 2019 6:35 pm

oslmgm wrote:
At today's press conference Bjørn Kjos said that some of the airplane deliveries will be slowed down. He didn't go into details, but he said it will include more than one type of airplane, and my impression was that it involved both Boeing and Airbus. He said that Norwegian will receive 5 more Dreamliners this spring, and then the last 5 in 2020. The longhaul expansion is then finished. (I don't know the original plan, but it sounded like this had been the plan all the time.) As far as I can understand, it must be deliveries of both 737MAXs and A320 that will be slower than initially planned. He didn't give any details, other than saying that the MAXes are not really an expansion, they're just swapping NGs for new MAXes.

There was a model of an A321 on display at his table, but none of the journalists asked about it, and Kjos didn't say anything about it.


Today at Oslo Stock Exchange - in line with what Bjørn Kjos said at the press conference:
https://newsweb.oslobors.no/message/468840
Norwegian Air Shuttle ASA – Postponement of delivery of 16 aircraft
Arctic Aviation Assets, a subsidiary of Norwegian Air Shuttle ASA ("the Company"), has signed an agreement with Boeing Commercial Airplanes for postponement of 12 Boeing 737 MAX aircraft from 2020 to 2023 and 2024. The postponement is expected to reduce the Company’s capital expenditure commitments related to pre-delivery payments in 2019. Additionally, capital expenditures for 2020 will be significantly reduced.

Arctic Aviation Assets has further signed an agreement with Airbus S.A.S. for postponement of four Airbus 321LR aircraft from 2019 to 2020. The postponement is expected to reduce the Company’s capital expenditure commitments in 2019.

The postponements are in line with the Company’s strategy of capitalizing on the scale built up over the last few years and the changed focus from growth to profitability. This announcement is an extension of the information provided in the stock exchange announcement “Norwegian strengthens its balance sheet through a fully underwritten rights issue of NOK 3 billion” on 29 January, where postponement of aircraft deliveries was highlighted as a measure to reduce capital expenditures, in addition to aircraft divestment.
 
oslmgm
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Wed Feb 06, 2019 6:42 pm

And yesterday, sale of two A320NEOs:
https://newsweb.oslobors.no/message/468709

Norwegian Air Shuttle ASA - Sale of two A320neo aircraft
Arctic Aviation Assets, a subsidiary of Norwegian Air Shuttle ASA ("the Company"), has signed an agreement for sale of two Airbus 320neo aircraft. The aircraft are currently leased out and thus not operated by the Company. Delivery will take place during February 2019. The transaction is expected to increase the Company's liquidity by USD 26 million after repayment of debt and have a positive equity effect. Sale proceeds will be used to repay debt and to increase the Company´s liquidity.
 
Mortyman
Topic Author
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Fri Feb 08, 2019 9:28 am

oslmgm wrote:
oslmgm wrote:
At today's press conference Bjørn Kjos said that some of the airplane deliveries will be slowed down. He didn't go into details, but he said it will include more than one type of airplane, and my impression was that it involved both Boeing and Airbus. He said that Norwegian will receive 5 more Dreamliners this spring, and then the last 5 in 2020. The longhaul expansion is then finished. (I don't know the original plan, but it sounded like this had been the plan all the time.) As far as I can understand, it must be deliveries of both 737MAXs and A320 that will be slower than initially planned. He didn't give any details, other than saying that the MAXes are not really an expansion, they're just swapping NGs for new MAXes.

There was a model of an A321 on display at his table, but none of the journalists asked about it, and Kjos didn't say anything about it.


Today at Oslo Stock Exchange - in line with what Bjørn Kjos said at the press conference:
https://newsweb.oslobors.no/message/468840
Norwegian Air Shuttle ASA – Postponement of delivery of 16 aircraft
Arctic Aviation Assets, a subsidiary of Norwegian Air Shuttle ASA ("the Company"), has signed an agreement with Boeing Commercial Airplanes for postponement of 12 Boeing 737 MAX aircraft from 2020 to 2023 and 2024. The postponement is expected to reduce the Company’s capital expenditure commitments related to pre-delivery payments in 2019. Additionally, capital expenditures for 2020 will be significantly reduced.

Arctic Aviation Assets has further signed an agreement with Airbus S.A.S. for postponement of four Airbus 321LR aircraft from 2019 to 2020. The postponement is expected to reduce the Company’s capital expenditure commitments in 2019.

The postponements are in line with the Company’s strategy of capitalizing on the scale built up over the last few years and the changed focus from growth to profitability. This announcement is an extension of the information provided in the stock exchange announcement “Norwegian strengthens its balance sheet through a fully underwritten rights issue of NOK 3 billion” on 29 January, where postponement of aircraft deliveries was highlighted as a measure to reduce capital expenditures, in addition to aircraft divestment.
oslmgm wrote:
And yesterday, sale of two A320NEOs:
https://newsweb.oslobors.no/message/468709

Norwegian Air Shuttle ASA - Sale of two A320neo aircraft
Arctic Aviation Assets, a subsidiary of Norwegian Air Shuttle ASA ("the Company"), has signed an agreement for sale of two Airbus 320neo aircraft. The aircraft are currently leased out and thus not operated by the Company. Delivery will take place during February 2019. The transaction is expected to increase the Company's liquidity by USD 26 million after repayment of debt and have a positive equity effect. Sale proceeds will be used to repay debt and to increase the Company´s liquidity.



Already a thread on this here:

viewtopic.php?f=3&t=1414855&p=21070885#p21070885
 
oslmgm
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Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Fri Feb 08, 2019 12:22 pm

Mortyman wrote:

Ok, thanks. But... I don't really see the need to start new threads for every little development of the same subject. It's all about Norwegian trying to improve their financial situation. Making separate threads of every step they take just makes it difficult to discuss the situation, in my opinion.
 
armchairceonr1
Posts: 293
Joined: Sun Jul 30, 2017 8:09 am

Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Sun Feb 10, 2019 5:38 pm

Big question for me is, which one go belly up first? HBK Holding (Kjos) or Norwegian? HBK Holding has around 1000 mNOK debt and almost all their money is on Norwegian shares.
 
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AAR
Posts: 56
Joined: Mon Mar 05, 2018 7:58 pm

Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Sun Feb 10, 2019 6:14 pm

The pilots of Spain are not satisfied with the save talks and will "maybe strike" here the press release

https://norwegianpilotgroup.org/sepla-p ... uary-2019/
 
a350lover
Posts: 963
Joined: Sun Dec 24, 2017 11:21 am

Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Thu Feb 14, 2019 10:29 pm

New minimum for the Norwegian Air Shuttle (NAS) stock price in Oslo.

It closed today bellow 100NOK at 99,74 falling 6,7%
The stock price reached max of 320NOK after IAG's bid not even a year ago.
 
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c933103
Posts: 5456
Joined: Wed May 18, 2016 7:23 pm

Re: Norwegian receives NOK 3 billion in a preferential and guaranteed share issue placement

Fri Feb 15, 2019 1:25 am

What will it mean to Norwegian Argentina?
It's pointless to attempt winning internet debate. 求同存異. よく見て・よく聞いて・よく考える
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