Photo by Fabrizio Gandolfo/SOPA Images/LightRocket via Getty Images
Norwegian Air is canceling 85 percent of its flights and temporarily laying off 90 percent of its workforce, leaving 7,300 hundred employees without jobs amid a pandemic threatening lives and global markets.
Norwegian’s CEO Jacob Schram said in a press release that “what our industry is now facing is unprecedented and critical as we are approaching a scenario where most of our airplanes will be temporarily grounded.”
The airline said its main priority is to keep this week’s scheduled flights on the books to return customers to “home destinations” and said it will work with authorities to arrange flights to get stranded passengers out of locations, if that becomes necessary.
Employees will be affected across the board — pilots, cabin crew, maintenance and administrative staff are all part of the temporary layoff.
Norwegian joins airlines around the world making significant changes to staffing, flight schedules and business operations. Delta Airlines will cut its flight capacity by 40 percent, joining United Airlines, which yesterday said it would cut flights by 50 percent. Southwest said it is “seriously considering” cuts to domestic travel and Virgin Atlantic asked staff to take eight weeks of unpaid leave. UK Airlines have also called for a bailout to survive the crisis.
Brian Vendig, President & CIO of MJP Wealth Advisors, joins to break down Q2 bank earnings and what they signal for markets, investors, and the economy ahead.
Are Gen Z and Millennials done with alcohol? Bacardi's Tony Latham breaks down trends, new preferences, and insights from the 2025 Cocktail Trends Report.
Comscore’s Paul Dergarabedian breaks down the battle of summer blockbusters, from Superman to Jurassic World and Fantastic Four and what it means for studios.
VENU CEO JW Roth breaks ground on a 20,000-seat, state-of-the-art amphitheater in Texas—part of a $300M public-private expansion to redefine live music.
Despite healthcare spending cuts, medtech stocks like Edwards Life Sciences, Stryker, and Boston Scientific are rising, especially those serving older pati
The original Birkin bag created by Hermès for Jane Birkin in 1984 is up for auction in Paris. Sotheby’s expects the iconic bag to sell for hundreds of thousands of euros on Thursday.
Elon Musk’s artificial intelligence company is taking down antisemitic comments and other “inappropriate posts” made by its Grok chatbot, including some praising Adolf Hitler.
Joby CPO Eric Allison discusses the UAE’s historic EVTOL take off, marking Dubai as the launchpad for global air taxi adoption and Joby’s commercial readiness.
