Management and chums landgrab for a quick Norwegian profit

Accepting the plan for the future Norwegian maangment announced today 14/1-2021 is something creditors and leaseowners should think more than twice about.

The key is in the details and the plan for 50 planes now but a rapid expansion to 70 already in 2022 is akin to a landgrab by management and a an asembled consortium of larger new shareholders. Meaning they under-size now before the vaccines has nullified the pandemic and then expand rapidly with significantly better lease deals as the markets recover.

Another key sign is that only a very small amount of new shares are available to existing shareholders. If it awas all above board wouldn't they be given a fare share. The difference now is that its not up for another shareowner vote so in reality its a free for all for managment and whoever they are mixed in with.

Next year, if profitable, and I can't see why covering maybe a 80% market with a 50% fleetsize, its time for big bonuses to top management and a rapid rice for the shareprice. Could see some lucky ducks cashing out after doubling their investment. That is hedge fund territory. But that would still mean just a quarter of todays share price.

Who will be the loosers. Existing small shareholders that from December to now treated the shares like a casino or rather musical chairs and is now left with only 5% of the company at a value 1/8 of what the share price is today. And companies that leased their planes to an airline whose management (CEO and Chairman) was first overly optimistic and later cashing out when they saw what way it lead. Leaving Norwegian under the contol of less competent (when it came to athe airline industy) individuals that took to long to react decisively to changes in the market. Both to downturns and potensials for alternative income, aka cargo.  Evey step in cutting capacity was at least 2 weeks behind. Increasing capacity in the summer the same. And they never got going on freight.

If the creditors really go for this solution they must really live by the old sayings what is done is done and if you are gonna loose money better loose them fast.

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