vedi sotto...e in ogni caso mi riferivo proprio agli ultimi 5 giorni, dove normalmente dopo nuovi investimenti si assiste a rimbalzi positivi, invece il trend e' inverso!
Norwegian faces collapse
- Autore Discussione Cadozzo
- Data d'inizio
- Stato
vedi sotto...e in ogni caso mi riferivo proprio agli ultimi 5 giorni, dove normalmente dopo nuovi investimenti si assiste a rimbalzi positivi, invece il trend e' inverso!
In realtà, a parte le ovvie reazioni di borsa - più carta emetti più si diluisce il valore e questa è pure stata emesse a sconto - tutta questo ingente ricorso a debito (bond) e titoli ha un significatobben preciso, che in termini non borsistici si chiama canna del gas
Norwegian names new chief as restructuring efforts continue
Low-cost carrier Norwegian has named former Circle K Europe group president and McKinsey adviser Jacob Schram as its new chief executive.
Schram, who has also held managing roles at Statoil Fuel & Retail and McDonald's, will take up the position from the start of 2020. Geir Karlsen, who has been acting chief executive since long-standing boss Bjorn Kjos stepped down in July, will continue as chief financial officer and deputy chief executive.
It completes an overhaul of the airline's leadership, under which long-standing executives Kjos and former chairman Bjorn Kise have stepped aside. That has coincided with a concerted drive to secure profitability at the airline after years of rapid expansion took a toll on its finances.
Niels Smedegaard, who took over as chairman from Kise in May, says: "His [Schram's] extensive management experience from global companies, proven leadership skills, strong commercial consumer orientation and impressive track record of value creation will greatly benefit Norwegian as the company enters into a new phase."
Norwegian citizen Schram led the listing of Statoil Fuel & Retail in 2010 and, after its acquisition by Canadian retail conglomerate Couche-Tard in 2012, served as group president for Europe until 2018.
“The airline industry is characterised by strong competition and unforeseen events, but it is also an industry that is important to people everywhere," says Schram. "Now, my main focus will be to bring the company back to profitability and fortify the company's position as a strong international player within the aviation industry."
Norwegian has expanded rapidly over recent years across Europe, mostly notably its push into the embryonic long-haul low-cost market on transatlantic routes. While this attracted much attention, notably takeover offers in 2018 from British Airways parent IAG, financial pressures at the carrier prompted a change of direction as it bid to secure profitability.
Norwegian began to cut costs, sell aircraft and reduce capacity as it axed unprofitable routes, alongside a wider effort to lighten its debt load. These measures helped deliver a 64% rise in third-quarter operating profit, to NKr2.97 billion ($326 million), and a nine-month operating profit of NKr2.13 billion. The airline had posted a full-year operating loss of NKr3.85 billion in 2018.
Challenges remains, though. The carrier's share price dropped by around 10% earlier in November after the airline revealed it was seeking additional funding from investors through a convertible bond issue and a release of new shares. Norwegian said the transactions leave the airline "fully funded" through 2020 "and beyond", based on its current business plan.
Smedegaard paid tribute to Karlsen's efforts since stepping up to the helm in July. "During the last months, the company has taken a series of measures which has resulted in strong financial improvements," the chairman says. "Profits in the company’s third quarterly results were the highest ever and the company has also taken several actions to increase liquidity and reduce capital commitments.
"I am naturally very pleased with Geir's decision to focus entirely on his role as CFO," Smedegaard adds. "With Jacob Schram and Geir Karlsen in the top management, we now have an outstanding team in place to take the company forward."
Cirium/FG
Low-cost carrier Norwegian has named former Circle K Europe group president and McKinsey adviser Jacob Schram as its new chief executive.
Schram, who has also held managing roles at Statoil Fuel & Retail and McDonald's, will take up the position from the start of 2020. Geir Karlsen, who has been acting chief executive since long-standing boss Bjorn Kjos stepped down in July, will continue as chief financial officer and deputy chief executive.
It completes an overhaul of the airline's leadership, under which long-standing executives Kjos and former chairman Bjorn Kise have stepped aside. That has coincided with a concerted drive to secure profitability at the airline after years of rapid expansion took a toll on its finances.
Niels Smedegaard, who took over as chairman from Kise in May, says: "His [Schram's] extensive management experience from global companies, proven leadership skills, strong commercial consumer orientation and impressive track record of value creation will greatly benefit Norwegian as the company enters into a new phase."
Norwegian citizen Schram led the listing of Statoil Fuel & Retail in 2010 and, after its acquisition by Canadian retail conglomerate Couche-Tard in 2012, served as group president for Europe until 2018.
“The airline industry is characterised by strong competition and unforeseen events, but it is also an industry that is important to people everywhere," says Schram. "Now, my main focus will be to bring the company back to profitability and fortify the company's position as a strong international player within the aviation industry."
Norwegian has expanded rapidly over recent years across Europe, mostly notably its push into the embryonic long-haul low-cost market on transatlantic routes. While this attracted much attention, notably takeover offers in 2018 from British Airways parent IAG, financial pressures at the carrier prompted a change of direction as it bid to secure profitability.
Norwegian began to cut costs, sell aircraft and reduce capacity as it axed unprofitable routes, alongside a wider effort to lighten its debt load. These measures helped deliver a 64% rise in third-quarter operating profit, to NKr2.97 billion ($326 million), and a nine-month operating profit of NKr2.13 billion. The airline had posted a full-year operating loss of NKr3.85 billion in 2018.
Challenges remains, though. The carrier's share price dropped by around 10% earlier in November after the airline revealed it was seeking additional funding from investors through a convertible bond issue and a release of new shares. Norwegian said the transactions leave the airline "fully funded" through 2020 "and beyond", based on its current business plan.
Smedegaard paid tribute to Karlsen's efforts since stepping up to the helm in July. "During the last months, the company has taken a series of measures which has resulted in strong financial improvements," the chairman says. "Profits in the company’s third quarterly results were the highest ever and the company has also taken several actions to increase liquidity and reduce capital commitments.
"I am naturally very pleased with Geir's decision to focus entirely on his role as CFO," Smedegaard adds. "With Jacob Schram and Geir Karlsen in the top management, we now have an outstanding team in place to take the company forward."
Cirium/FG
Nel futuro di Norwegian più alleanze con altri vettori.
Norwegian founder hints at alliance agreements
Fresh from signing a co-operation agreement with New York-based JetBlue, low-cost long-haul specialist Norwegian is planning to expand its alliance to other carriers, the Scandinavian airline’s co-founder has told an industry event.
By David Casey
Posted
19 November 2019 14:02
Norwegian is planning to expand its alliance to other airlines as part of an ambitious turnaround strategy over the coming years, according to the carrier’s co-founder and president Bjørn Kjos.
Speaking on 19 November 2019 at IATA’s Wings of Change Europe conference in Berlin, Kjos refused to be drawn on the exact details of any future partnerships but said Norwegian has had “a number of very interesting meetings” with other players.
“I cannot say anything now but there will be a much, much larger alliance,” he said. “You will see a larger entity coming up.”
Norwegian has an existing agreement with easyJet in Europe through the latter’s Worldwide by easyJet service, which allows passengers to connect with partner airline flights and vice versa.
In addition, in October 2019 Norwegian signed a letter of intent with JetBlue to form an interline agreement, enabling for a single booking for connecting flights between the US and Europe.
The partnership, which is expected to launch in early summer 2020, will connect about 60 US and almost 40 Caribbean and Latin American cities to Norwegian’s network in New York, Boston and Fort Lauderdale. From there the Scandinavian carrier serves more than 20 European destinations.
Speaking to Routesonline, Kjos said the agreement with JetBlue will provide feed for its long-haul network. He said that while Norwegian has 516 routes, it still lacks sufficient feed.
“In order to be successful on long-haul, you have to have a good feeder network. A lot of the legacy carriers have done that through their alliances,” he said.
“So what we are doing is building up a feeding structure. We have that in Europe with easyJet, but we don’t currently have anything in the US.
“JetBlue is obviously planning to fly transatlantic so we’ll be able to co-operate with them on those routes, and they can feed us and we can feed them on the US side.”
JetBlue intends to launch multiple daily flights to London from New York JFK and Boston in 2021 using Airbus A321LR aircraft. It is still evaluating which London airport to serve.
“I don’t see them as a competitor; I see them as a partner,” added Kjos, who stepped down from Norwegian’s chief executive role in July.
In recent months Norwegian has moved away from rapid expansion to prioritising profitability. In the third quarter of 2019, the airline reported a 28 percent rise in net profit to NOK1.67 billion ($184m) compared with NOK1.30 billion in the same period a year ago.
Revenues rose 8 percent to NOK14.4 billion, primarily driven by intercontinental growth, while passenger numbers dropped by 3 percent to 10.5 million in line with a capacity reduction.
The third quarter profit rise came despite the ongoing grounding of Norwegian's 18 Boeing 737 Max fleet and engine issues with its Boeing 787s. Kjos told Routesonline that Norwegian currently expects the Max to be back in operation “at the start of the second quarter” of 2020.
https://www.routesonline.com/news/2...paign=the-hub-EU&utm_content=the-hub-20191122
Norwegian founder hints at alliance agreements
Fresh from signing a co-operation agreement with New York-based JetBlue, low-cost long-haul specialist Norwegian is planning to expand its alliance to other carriers, the Scandinavian airline’s co-founder has told an industry event.
By David Casey
Posted
19 November 2019 14:02
Norwegian is planning to expand its alliance to other airlines as part of an ambitious turnaround strategy over the coming years, according to the carrier’s co-founder and president Bjørn Kjos.
Speaking on 19 November 2019 at IATA’s Wings of Change Europe conference in Berlin, Kjos refused to be drawn on the exact details of any future partnerships but said Norwegian has had “a number of very interesting meetings” with other players.
“I cannot say anything now but there will be a much, much larger alliance,” he said. “You will see a larger entity coming up.”
Norwegian has an existing agreement with easyJet in Europe through the latter’s Worldwide by easyJet service, which allows passengers to connect with partner airline flights and vice versa.
In addition, in October 2019 Norwegian signed a letter of intent with JetBlue to form an interline agreement, enabling for a single booking for connecting flights between the US and Europe.
The partnership, which is expected to launch in early summer 2020, will connect about 60 US and almost 40 Caribbean and Latin American cities to Norwegian’s network in New York, Boston and Fort Lauderdale. From there the Scandinavian carrier serves more than 20 European destinations.
Speaking to Routesonline, Kjos said the agreement with JetBlue will provide feed for its long-haul network. He said that while Norwegian has 516 routes, it still lacks sufficient feed.
“In order to be successful on long-haul, you have to have a good feeder network. A lot of the legacy carriers have done that through their alliances,” he said.
“So what we are doing is building up a feeding structure. We have that in Europe with easyJet, but we don’t currently have anything in the US.
“JetBlue is obviously planning to fly transatlantic so we’ll be able to co-operate with them on those routes, and they can feed us and we can feed them on the US side.”
JetBlue intends to launch multiple daily flights to London from New York JFK and Boston in 2021 using Airbus A321LR aircraft. It is still evaluating which London airport to serve.
“I don’t see them as a competitor; I see them as a partner,” added Kjos, who stepped down from Norwegian’s chief executive role in July.
In recent months Norwegian has moved away from rapid expansion to prioritising profitability. In the third quarter of 2019, the airline reported a 28 percent rise in net profit to NOK1.67 billion ($184m) compared with NOK1.30 billion in the same period a year ago.
Revenues rose 8 percent to NOK14.4 billion, primarily driven by intercontinental growth, while passenger numbers dropped by 3 percent to 10.5 million in line with a capacity reduction.
The third quarter profit rise came despite the ongoing grounding of Norwegian's 18 Boeing 737 Max fleet and engine issues with its Boeing 787s. Kjos told Routesonline that Norwegian currently expects the Max to be back in operation “at the start of the second quarter” of 2020.
https://www.routesonline.com/news/2...paign=the-hub-EU&utm_content=the-hub-20191122
Aggiungo un articolo piu' completo sui tagli sui voli di lungo raggio dalla Scandinavia verso USA e Thailandia
Norwegian cuts long-haul routes from Sweden and Denmark
Scandinavian budget carrier Norwegian is discontinuing its long-haul flights from Sweden and Denmark to the USA and Thailand as it looks to move from growth to profitability.
"We see that the long-distance market to and from Scandinavia is small, compared to large cities such as New York, London, Los Angeles, Paris and Rome," states the carrier's senior vice-president commercial Matthew Wood. "Scandinavia is not large enough to maintain intercontinental flights from Oslo, Stockholm and Copenhagen."
The services will cease on 29 March 2020.
Norwegian will continue its US routes from Oslo, and will also look to increase the frequencies on some transatlantic routes from Europe. "The company is experiencing high demand for routes from major European cities such as London, Barcelona and Paris to a number of destinations in the US," it says.
The airline's long-haul operations have been disrupted by problems with the Rolls-Royce engines that power its Boeing 787s. These have led some aircraft to be grounded.
While the airline will retain its US services from Oslo, flights to Bangkok from the Norway's capital will be discontinued until summer 2020. Norwegian's routes from Oslo to Bangkok and another Thai destination, Krabi, are under evaluation for winter 2020.
Short- and medium-haul routes from Oslo, Stockholm and Copenhagen are not affected by the changes. The airline recently launching an expansion in its services from the region.
Norwegian notes that in total it offers 50 routes between Europe and the USA, and describes itself as the largest foreign airline in New York.
Cirium/FG
Mi sembra una buona scelta chiudere le basi di lungo raggio non produttive e concentrare gli aerei nelle basi principali offrendo un rotte e piu' frequenze, invece di disperderle in troppi aeroporti con una offerta troppo frammentata.
https://www.thelocal.dk/20191128/wh...-nordics-to-usa/amp?__twitter_impression=true
Non posto articoli in lingua, ma a Copenaghen e Stoccolma viene considerato un bel voltafaccia.
Non posto articoli in lingua, ma a Copenaghen e Stoccolma viene considerato un bel voltafaccia.
Dalla Scandinavia (CPH/OSL/ARN) si era scatenata un'offensiva nemmeno troppo nascosta da parte di un po' tutte le alleanze, a colpi di tariffe A/R per gli USA a 200/300 € tutto incluso in qualunque stagione. Lo stupore è che DY abbia retto tutto questo tempo.
Ora i prezzi saliranno a cifre più consone? o ormai lo sbraco è iniziato e la clientela pretende che 200 euro sia lo standard per un volo intercontinentale?
Dipende da quanto è disponibile a spendere il mercato, tendenzialmente se elimini il concorrente che spinge al ribasso potresti aumentare le tariffe. Più si riducono gli attori, più il mercato diventa oligo/monopolista, coi prezzi che salgono. E' la legge della domanda e dell'offerta, nulla di trascendentale.
Esatto e considerando che il PIL procapite e il potere di acquisto in Svezia e Danimarca è quasi il doppio di quello italiano, è probabile che i prezzi dei voli si adegueranno a questi livelli.
andra' cosi', no way; United era uscita dal mercato CPH-EWR ad esempio, proprio per lo yield da strapazzo...
Inoltre OAK perde ulteriori rotte con la chiusura di ARN e CPH.
Che se si aggiungono a quelle trasferite nella vicina SFO (vedi LGW, CDG, BCN) fa sì che rimangano a OAK solo due tratte (OSL e FCO).
Prevedibile che si arriverà a uno smantellamento totale a favore dell'aeroporto principale nel giro di pochi mesi.
Come a NY dove si sono concentrati solo su JFK.
Oakland Airport loses two more international flights
https://www.sfgate.com/travel/artic...hts-Oakland-copenhagen-stockholm-14867914.php
Che se si aggiungono a quelle trasferite nella vicina SFO (vedi LGW, CDG, BCN) fa sì che rimangano a OAK solo due tratte (OSL e FCO).
Prevedibile che si arriverà a uno smantellamento totale a favore dell'aeroporto principale nel giro di pochi mesi.
Come a NY dove si sono concentrati solo su JFK.
Oakland Airport loses two more international flights
https://www.sfgate.com/travel/artic...hts-Oakland-copenhagen-stockholm-14867914.php
Va considerato anche il fatto che la corona svedese ha perso molto in questi ultimi mesi. Sia in rapporto all’euro che al dollaro e quindi ancora di più rispetto al carissimo THB. Questo ha un effetto importante soprattutto sui viaggiatori low cost....
Sent from my iPhone using Tapatalk
Sent from my iPhone using Tapatalk
Norwegian’s Argentinian subsidiary threatened?
Barely more than a year after its creation, rumors say the low-cost airline Norwegian Air Argentina could cease operations after the end of the winter season. Its parent company denied the claim.
After it was discovered that the low-cost carrier Norwegian Air Argentina (NAA) only displays flights until March 28, 2020 on its system, suspicions that the airline would cease activities after this date started to emerge.
The rumors are not unfounded. Since its creation in October 2018, NAA has been under-delivering. It currently operates three Boeing 737-800s against the nine that were announced and failed to open more than eight routes, when it received the authorization to operate 152 of them by the Argentinian authorities. Some suspect that NAA could be sold to a local competitor. “If our project in Argentina does not correspond to the plan, we are prepared to withdraw,” said Norwegian’s CFO Geir Kalsen in May 2019.
Meanwhile, the parent company Norwegian Air Shuttle is still working on its profitability, weighed down by a cumulative debt of $6.7 billion. On November 27, 2019, it announced that it would cease to operate half of its long-haul routes from Scandinavia towards Thailand and the United States, blaming a low demand and problems with its Dreamliners engines.
On November 29, 2019, NAA denied the rumors. “This is not the first time this has happened,” a company spokesman told Aviacionline, adding “at other times, we have also launched commercialization within a three- or four-month timeframe to adapt to seasonal changes in demand in Argentina and Europe, due to the inconvenience caused by the lack of single-aisle aircraft after the MAX delivery was disrupted.”
Questioned on the prospect of a sale, the spokesperson admitted that “the goal of reaching the break-even for this year was not met, and we are not sure about when it could happen.”
Barely more than a year after its creation, rumors say the low-cost airline Norwegian Air Argentina could cease operations after the end of the winter season. Its parent company denied the claim.
After it was discovered that the low-cost carrier Norwegian Air Argentina (NAA) only displays flights until March 28, 2020 on its system, suspicions that the airline would cease activities after this date started to emerge.
The rumors are not unfounded. Since its creation in October 2018, NAA has been under-delivering. It currently operates three Boeing 737-800s against the nine that were announced and failed to open more than eight routes, when it received the authorization to operate 152 of them by the Argentinian authorities. Some suspect that NAA could be sold to a local competitor. “If our project in Argentina does not correspond to the plan, we are prepared to withdraw,” said Norwegian’s CFO Geir Kalsen in May 2019.
Meanwhile, the parent company Norwegian Air Shuttle is still working on its profitability, weighed down by a cumulative debt of $6.7 billion. On November 27, 2019, it announced that it would cease to operate half of its long-haul routes from Scandinavia towards Thailand and the United States, blaming a low demand and problems with its Dreamliners engines.
On November 29, 2019, NAA denied the rumors. “This is not the first time this has happened,” a company spokesman told Aviacionline, adding “at other times, we have also launched commercialization within a three- or four-month timeframe to adapt to seasonal changes in demand in Argentina and Europe, due to the inconvenience caused by the lack of single-aisle aircraft after the MAX delivery was disrupted.”
Questioned on the prospect of a sale, the spokesperson admitted that “the goal of reaching the break-even for this year was not met, and we are not sure about when it could happen.”
Norwegian ha ricevuto 3 coppie di slot settimanali per operare da LHR la prossima stagione estiva.
Qui l'articolo: https://simpleflying.com/norwegian-london-heathrow-slots/
Qui l'articolo: https://simpleflying.com/norwegian-london-heathrow-slots/
Ottima notizia, probabilmente sposteranno a LHR alcuni voli già adesso operati da LGW.
- Stato