Norwegian airlines have been struggling with major financial problems for a long time. Currently, the company's management board does not have sufficient funds to meet the credit conditions on the bond market.
Norwegian has no money
As a result of recent problems with Norwegian airline, it turns out that the company does not have the right amount of money. Ultimately, it may turn out that they will not meet the credit conditions on the bond market in the first quarter. According to the rules, the airline always had to have 1,5 billion crowns to meet the above-mentioned requirements. conditions, but that's not all. In addition, they should have CZK 500 million in the cash desk, which should allow them to provide a financial reserve. At the moment, as reported by Nettavisen, the company does not have such funds.
January 29 promise
At the last press conference on January 29, the head of Norwegian Bjorn Kjos, informed that the company would never breach the terms of loans that would exceed the limits of their capital. In addition, the company ensures that it has appropriate funds to ensure its liquidity and security for the next 12 months of operation.
Read also: Norwegian airlines are going through a great crisis
A big fall
At the end of 2018, Norwegian owned NOK 1,9 billion of funds and assets. Unfortunately, this is a very large decrease because in 2017 this amount was NOK 4 billion.
Norwegian airlines' financial problems. Will the company be operational for the next 12 months? What promise had her boss made? Read on in the article above!
