Download full report with analyst certification and important disclosures
Aug 28 2020, 08:40 IST/BST
Norwegian Air’s actions on its cost base and balance sheet have extended its operating runway in this difficult environment, but without a material macro improvement (likely requiring the type of demand step-change that would arise from an effective treatment/vaccine and its widespread distribution) the liquidity requirement in Q1 2021 poses a risk. The company suggests that a mix of measures will satisfy the shortfall but, in order to achieve this, it needs to inspire confidence from capital providers that the business post COVID-19 will be capable of not only servicing but eventually reducing debt and leverage.
Aug 28 2020, 08:40 IST/BST