Airlines in a Crisis

The cleanup after Flyr has brought to the front a number of ways the airline wasted its investors money. A number of staff had fancifull titles whcih point to an overflow of staff that wasn't completely necessary for a small startup company. Lots of VP's under the Chief level. Maybe some of the urge to comit to more planes was due to an overhiring of well titled staff that needed someone to manage which could only be justified by becoming a larger airline.  Where the ex-Norwegian managmenet building the backoffice of the new airline Flyr based on what the much larger airline Norwegian had. An airline that also went under unable to manage its debt or comitments, before being resurrected. A plane needs sa certain amount of pilots and cabinstaff to fly a certain schedule. It is the backoffice saving are to be had. Just as many staff in the back as flying staff seems excessive. Specially when one knows large parts of its ground handling and maintenance were outsourced A lot of effo...

Or rather can he survive without giving up his 11 million bonus. Or should the question be, will he, since it could take him 2 years to make it back. Question is how much does he want to be CEO or is it just the money that drives him. There is surely another company he could rescue from the brink through financial wizardry. Schram, the former CEO of Norwegian lasted 18 months. More because ofthe support of a weak board with litle shareholder backing but at the same time without any shareholder unity or even a strong such. And a chairman without much airline background that maybe of that reason picked a CEO without any at all. As soon as kind of new strong shareholders came in and the chairman that picked him for the CEO role was out, so was he. But is Karlsen what Norwegian needs now. When he came in as CFO he either had any airline background but was a part of the Fredriksen sphere. Fredriksen is again a large shareholder in Norwegian but the time for finanzial wizardry might be vanin...