Norwegian Air said Tuesday that it will cancel approximately
3,000 flights, reducing capacity by 15% between mid-March and mid-June.
The carrier wasn’t specific about where the cuts would be
made but said the move would affect its entire network. Norwegian said more
details will be shared before the plan is implemented. The U.S. is the discount
carrier’s largest market.
Along with route cuts, Norwegian said it is implementing
temporary layoffs of “a significant share of its workforce.”
“This is a critical time for the aviation industry,
including us at Norwegian. We encourage the authorities to immediately
implement measures to imminently reduce the financial burden on the airlines in
order to protect crucial infrastructure and jobs,” CEO Jacob Schram said in a statement.
Norwegian stock is down 73% since Feb. 12.
The carrier lost $170.3 million in 2018 but implemented
several operational and fundraising steps last year to shore up finances. By
late in the year, the company said that it was fully funded through the end of
Norwegian is far from the only international carrier to reduce
flying due to Covid-19. Especially notable is Lufthansa Group, which will
reduce flying up to 50% in the coming weeks for Lufthansa, Austrian, Swiss,
Brussels Airlines and Eurowings.