Norwegian Air court protection likely to be extended
over 4 years in The Irish Times
High Court protection for Norwegian Air Shuttle (NAS) and four Irish subsidiaries could be extended beyond this month, it emerged on Monday.
Examiner Kieran Wallace of KPMG is set to ask the High Court to extend the period he has to work on a rescue plan for the troubled airline by 50 days from its current deadline of February 25th.
Kelley Smith, Mr Wallace’s senior counsel, told the High Court on Monday that the examiner was likely to seek to seek the extension, which would bring the total period of the examinership to 150 day from 100.
NAS and Irish subsidiaries, Arctic Aviation Assets, Norwegian Air Interntional, Drammensfjorden Leasing and Lysakerfjorden Leasing, have been under High Court protection from creditors since November, when Mr Wallace was appointed as examiner.
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