Norwegian says 4,700 jobs at risk after unit bankruptcies, contracts axed
Norwegian Air Monday reported that 4 Swedish and Danish subsidiaries had filed for bankruptcy and that it had ended staffing contracts in Europe and the US, putting some 4,700 jobs at risk. The airline is seeking to convert debt to equity, money from shareholders and Norwegian state guarantees in a bid to survive the coronavirus crisis. Norwegian Air said the 4 subsidiaries in Sweden and Denmark were companies that employed pilots and cabin crew. The cancelled agreements involve firms which provide crews based in Spain, Britain, Finland, Sweden and the US. Combined, it said some 4,700 pilots and cabin crew members would be affected while about 700 pilots and 1,300 cabin crew based in Norway, France and Italy remained unaffected. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-04-21/unaligned/norwegian-says-4-700-jobs-at-risk-after-unit-bankruptcies-contracts-axed
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Norwegian says 4,700 jobs at risk after unit bankruptcies, contracts axed
Norwegian Air Monday reported that 4 Swedish and Danish subsidiaries had filed for bankruptcy and that it had ended staffing contracts in Europe and the US, putting some 4,700 jobs at risk. The airline is seeking to convert debt to equity, money from shareholders and Norwegian state guarantees in a bid to survive the coronavirus crisis. Norwegian Air said the 4 subsidiaries in Sweden and Denmark were companies that employed pilots and cabin crew. The cancelled agreements involve firms which provide crews based in Spain, Britain, Finland, Sweden and the US. Combined, it said some 4,700 pilots and cabin crew members would be affected while about 700 pilots and 1,300 cabin crew based in Norway, France and Italy remained unaffected. <br/>
