Courts / Ireland / Report

Norwegian axes long-haul flights, winds-up Irish company

Summary

The High Court appointed liquidators to Torskef Jorden Leasing Ltd (TLL), an Irish subsidiary of Norwegian Air, after the airline announced it would cease long‑haul services. The court, hearing on Friday, adjourned proceedings to allow creditors to comment and then ordered TLL's winding up. Mr Kieran Wallace and Mr Andrew O'Leary of KPMG were named joint liquidators. Lawyers for most creditors were neutral or supportive of the liquidation, citing TLL's loss of commercial viability after the airline's shift to Nordic routes. TLL had operated as a lessor of 24 wide‑body Boeing jets, earning income only from sub‑leasing to other group companies. The liquidation follows Norwegian's broader examinership and restructuring efforts, which aim to keep the airline as a going concern while addressing its significant debt and operational changes caused by the pandemic and aircraft grounding issues.

Who, what, where, when and why

What: Report matter: Norwegian axes long-haul flights, winds-up Irish company. Procedural stage: hearing_or_decision

When:

• 2021-01-15 Publication

Why: The matter came before the judge on Friday morning, who adjourned proceedings until this evening in order to allow any creditor the opportunity to air any views they may have on the application to wind up TLL. CNI source report

Places mentioned

Topics

Stage Hearing Or Decision

Read the original CNI report