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Norwegian Air said Tuesday that it will cancel approximately 3,000 flights, reducing capacity by 15% between mid-March and mid-June.
The carrier wasn’t specific about where the cuts would be made but said the move would affect its entire network. Norwegian said more details will be shared before the plan is implemented. The U.S. is the discount carrier’s largest market.
Along with route cuts, Norwegian said it is implementing temporary layoffs of “a significant share of its workforce.”
“This is a critical time for the aviation industry, including us at Norwegian. We encourage the authorities to immediately implement measures to imminently reduce the financial burden on the airlines in order to protect crucial infrastructure and jobs,” CEO Jacob Schram said in a statement.
Norwegian stock is down 73% since Feb. 12.
The carrier lost $170.3 million in 2018 but implemented several operational and fundraising steps last year to shore up finances. By late in the year, the company said that it was fully funded through the end of this year.
Norwegian is far from the only international carrier to reduce flying due to Covid-19. Especially notable is Lufthansa Group, which will reduce flying up to 50% in the coming weeks for Lufthansa, Austrian, Swiss, Brussels Airlines and Eurowings.
Source: travelweekly.com
