Norwegian Air Shuttle gets more time for rescue plan

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

Norwegian Air Shuttle had its examinership extended by the High Court to 25 February 2021, following a hearing on 22 January 2021.

The extension gives examiner Kieran Wallace another month to finalise a rescue plan, known as a scheme of arrangement, for the airline group.

The court heard that $2.5 billion (€2 billion) of group debt had been discharged, while management planned to raise up to €490 million and close long-haul operations.

No represented creditors objected to the extension, and the matter is due back before Justice Michael Quinn on 25 February 2021.