DAVY VIEW

Overall, this seems like a sensible plan. In particular, the long-haul business was volatile and generally loss making since its launch in 2013 – in this environment, withdrawal is the only viable option. The short-haul network will pivot around the Nordics, also a practical move given Norwegian’s lack of competitive advantage in the increasingly competitive European low-cost carrier (LCC) short-haul market – better late than never. Another round of significant recapitalisation awaits but the prospect of relative stability thereafter is becoming more realistic.