Norwegian wins bankruptcy protection in Ireland

Norwegian has won High Court protection from creditors for its key Irish subsidiaries as the carrier begins the latest bid to salvage its struggling operations.

Justice Michael Quinn appointed KPMG partner, Kieran Wallace, as interim examiner to Irish-based Norwegian Air International, Arctic Aviation Assets DAC and three other companies.

The Irish subsidiaries named their parent, Norwegian Air Shuttle, as a related company.

The court granted a total of six entities interim protection from their creditors.

The case is due back before Quinn on December 7th.

Norwegian Air went to the Irish High Court as its subsidiaries there hold most of its aircraft.

Jacob Schram, chief executive of Norwegian, argued that seeking Irish court protection to re-organise the business would benefit workers, customers and shareh

Source : Breakingtravelnews