Courts / Ireland / Report
Aircraft firms may contest Norwegian's bid to exit leases
Summary
In a High Court hearing, Norwegian's Irish subsidiaries, currently in examinership, sought to exit aircraft leases as part of a survival plan that will drop transatlantic services and focus on European and Nordic routes. Lawyers for the airline explained that it intends to return the aircraft to lessors in a state that satisfies them, but several lessors have expressed dissatisfaction with the information received and may formally oppose the repudiation applications. The court adjourned the applications to a later date and indicated a willingness to grant repudiation orders for other leases unrelated to aircraft, such as software, inflight entertainment, fuel services, a VIP lounge at Gatwick, and premises at Logan Airport. The airline's parent company and three Irish subsidiaries have been granted court protection, and the examiner is preparing a scheme of arrangement to keep the airline as a going concern.
Who, what, where, when and why
What: Report matter: Aircraft firms may contest Norwegian's bid to exit leases. Procedural stage: hearing_or_decision
When:
- 2021-02-04 Publication
Places mentioned
- The High Court
- High Court
Topics
If a fact, identity, locality or legal outcome needs review, email the newsroom with this report's details prefilled.
Email a correction request