COPENHAGEN, Denmark (AP) Low-cost carrier Norwegian Air Shuttle said Wednesday it is seeking restructuring and bankruptcy protection in Ireland, where its fleet is held, saying the decision was in the interest of its stakeholders.
Norwegian will continue to operate its route network and both its bonds and shares will trade as normal on the Oslo Stock Exchange, the carrier said.
Like other airlines, its fleet is now mostly grounded as the pandemic has caused a near-total halt to global travel.
It said that its top priorities remain safeguarding as many jobs as possible, while rightsizing its asset base. It did not provide further detail but said the process under Irish law may last for up to five mo…