Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Norwegian Air UK, the subsidiary of Norway-based budget airline Norwegian Air Shuttle, has announced that it had initiated an insolvency process to close its long-haul flights in the UK, with a loss of 1,100 pilot and cabin crew jobs at Gatwick Airport. In October 2020, Norwegian Air already announced that 259 of these jobs would be cut.
Norwegian Air’s flights between London Gatwick Airport and the US were cancelled in March 2020 and the affected staff have been on paid leave on the UK government’s Coronavirus Job Retention Scheme since then.
The chief executive said the long-haul operations units in the UK, France, Spain, Italy and the US will all close, causing a loss of around 2,000 jobs. The restructuring is due to the fact that this segment of air travel will be slow to recover after the COVID-19 pandemic.
Before the pandemic, Norwegian Air UK operated 27 routes from London Gatwick to locations in Norway, Sweden, the Baltic States, Poland and the US.
Eurofound (2021), Norwegian Air UK, Bankruptcy in United Kingdom, factsheet number 103299, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/103299.
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