{"id":107859,"date":"2021-02-24T14:10:34","date_gmt":"2021-02-24T14:10:34","guid":{"rendered":"https:\/\/fin2me.com\/?p=107859"},"modified":"2021-02-24T14:10:34","modified_gmt":"2021-02-24T14:10:34","slug":"norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/","title":{"rendered":"Norwegian Air and Airbus agree terms to end jet deliveries, court is told"},"content":{"rendered":"

DUBLIN (Reuters) – Norwegian Air and jet maker Airbus have agreed on terms to repudiate the carrier\u2019s contract for new aircraft, lawyers representing the two firms told Ireland\u2019s High Court on Wednesday.<\/p>

FILE PHOTO: The logo of Airbus is pictured at the entrance of the Airbus facility in Bouguenais, near Nantes, France, July 2, 2020. REUTERS\/Stephane Mahe\/File Photo<\/figcaption>

Norwegian last year won protection from bankruptcy in both Norway and Ireland, where most of its assets are registered, and is aiming to emerge with fewer aircraft and less debt as it plots a future beyond the COVID-19 pandemic.<\/p>\n

Under a multi-year deal signed in 2012 and revised several times since, Airbus was to deliver 100 jets to Norwegian, and according to the aircraft maker\u2019s financial filings the company still has 88 narrow-body jets on order.<\/p>\n

\u201cWe have agreed, judge, in the last short while, the terms of a consent order,\u201d Norwegian Air lawyer Brian Kennedy told the court.<\/p>\n

Among the terms, Airbus will keep any prepayments it has received and will still be owed 600,000 pounds ($847,800) by Norwegian, he said.<\/p>\n

The deal comprised both Norwegian Air and its asset-owning subsidiary Arctic Aviation, Kennedy said, although he did not specify the number of aircraft involved.<\/p>\n

A lawyer representing Airbus confirmed to the court that the two sides had reached an agreement.<\/p>\n

Prior to the COVID-19 pandemic, Norwegian had contractual commitments amounting to $9.55 billion for the purchase of Boeing and Airbus aircraft from 2020 to 2027, according to the carrier\u2019s financial filings.<\/p>\n

Last June however, Norwegian unilaterally terminated its remaining orders with Boeing for 97 aircraft and sought compensation for the grounding of the Boeing 737 MAX jets and technical problems with 787 Dreamliners.<\/p>\n

Boeing has contested the move and also made counterclaims against Norwegian, documents filed by the airline show.<\/p>\n

($1 = 0.7077 pounds)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

DUBLIN (Reuters) – Norwegian Air and jet maker Airbus have agreed on terms to repudiate the carrier\u2019s contract for new aircraft, lawyers representing the two […]<\/p>\n","protected":false},"author":3,"featured_media":107858,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nNorwegian Air and Airbus agree terms to end jet deliveries, court is told - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Norwegian Air and Airbus agree terms to end jet deliveries, court is told - Fin2me\" \/>\n<meta property=\"og:description\" content=\"DUBLIN (Reuters) – Norwegian Air and jet maker Airbus have agreed on terms to repudiate the carrier\u2019s contract for new aircraft, lawyers representing the two [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-24T14:10:34+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/02\/cnewsfotor30-5.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/\",\"url\":\"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/\",\"name\":\"Norwegian Air and Airbus agree terms to end jet deliveries, court is told - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-02-24T14:10:34+00:00\",\"dateModified\":\"2021-02-24T14:10:34+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets\",\"item\":\"https:\/\/fin2me.com\/category\/markets\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Norwegian Air and Airbus agree terms to end jet deliveries, court is told\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fin2me.com\/#website\",\"url\":\"https:\/\/fin2me.com\/\",\"name\":\"Fin2me\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fin2me.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"Mark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"caption\":\"Mark\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Norwegian Air and Airbus agree terms to end jet deliveries, court is told - Fin2me","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/","og_locale":"en_US","og_type":"article","og_title":"Norwegian Air and Airbus agree terms to end jet deliveries, court is told - Fin2me","og_description":"DUBLIN (Reuters) – Norwegian Air and jet maker Airbus have agreed on terms to repudiate the carrier\u2019s contract for new aircraft, lawyers representing the two [...]","og_url":"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/","og_site_name":"Fin2me","article_published_time":"2021-02-24T14:10:34+00:00","author":"Mark","twitter_card":"summary_large_image","twitter_image":"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/02\/cnewsfotor30-5.jpg","twitter_misc":{"Written by":"Mark","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/","url":"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/","name":"Norwegian Air and Airbus agree terms to end jet deliveries, court is told - Fin2me","isPartOf":{"@id":"https:\/\/fin2me.com\/#website"},"datePublished":"2021-02-24T14:10:34+00:00","dateModified":"2021-02-24T14:10:34+00:00","author":{"@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fin2me.com\/markets\/norwegian-air-and-airbus-agree-terms-to-end-jet-deliveries-court-is-told\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fin2me.com\/"},{"@type":"ListItem","position":2,"name":"Markets","item":"https:\/\/fin2me.com\/category\/markets\/"},{"@type":"ListItem","position":3,"name":"Norwegian Air and Airbus agree terms to end jet deliveries, court is told"}]},{"@type":"WebSite","@id":"https:\/\/fin2me.com\/#website","url":"https:\/\/fin2me.com\/","name":"Fin2me","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fin2me.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"Mark","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fin2me.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","caption":"Mark"}}]}},"_links":{"self":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/107859"}],"collection":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/comments?post=107859"}],"version-history":[{"count":0,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/107859\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media\/107858"}],"wp:attachment":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media?parent=107859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/categories?post=107859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/tags?post=107859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}