Norwegian Air shores up its balance sheet
Norwegian Air announced a US$230m cost savings program Monday along with steps including the refinancing of 1 Boeing 787 Dreamliner that the airline said would generate more than $30m in liquidity. It also said it was making several changes to its route portfolio as well as to its capacity. "Combined these measures should improve the financial performance from the start of 2019," it said. The fast-growing carrier has been under pressure over the past 18 months to control costs and shore up its balance sheet as it looks to crack the transatlantic market by undercutting established rivals. It said its new cost-saving program was expected to generate savings of at least $229m in 2019. The airline said it would provide an update on the program April 25 with its Q1 results. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-12-25/unaligned/norwegian-air-shores-up-its-balance-sheet
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Norwegian Air shores up its balance sheet
Norwegian Air announced a US$230m cost savings program Monday along with steps including the refinancing of 1 Boeing 787 Dreamliner that the airline said would generate more than $30m in liquidity. It also said it was making several changes to its route portfolio as well as to its capacity. "Combined these measures should improve the financial performance from the start of 2019," it said. The fast-growing carrier has been under pressure over the past 18 months to control costs and shore up its balance sheet as it looks to crack the transatlantic market by undercutting established rivals. It said its new cost-saving program was expected to generate savings of at least $229m in 2019. The airline said it would provide an update on the program April 25 with its Q1 results. <br/>
