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Lessors are seeking more information from troubled airline Norwegian Air Shuttle (NAS) on its plans to cuts it aircraft fleet, the High Court heard on Friday.
NAS and five Irish subsidiaries have protection against creditors’ claims from the court, which last month appointed Kieran Wallace of KPMG as examiner to the businesses.
Lawyers for aircraft lessors, due much of the €4 billion that the Scandinavian group owes creditors, told Mr Justice Michael Quinn that their clients wanted to be told as early as possible about Norwegian’s plans to cut its 140-strong aircraft fleet.
Irish-based Aercap and SMBC, along with Bank of China, pointed out that Norwegian has signalled that its restructuring could potentially involve it returning aircraft to the lessors that supplied the planes in the first place.
Oslo-based NAS and Irish-registered Norwegian Air International, Arctic Aviation Assets and three of its subsidiaries, sought the High Court’s protection in November as its aircraft are held through companies based in the Republic.
NAS is seeking to restructure its business, which is grappling with debts and the impact of Covid-19 on air travel.
Justice Quinn granted an extension to Mr Wallace, allowing him to report to the court on Friday, January 22nd.