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Norwegian announces restructuring and establishment of EU-based subsidiary

16-Oct-2013 12:51 PM

Norwegian stated (15-Oct-2013) its board of directors has approved a restructuring of the company. Under the current holding company, Norwegian Air Shuttle ASA, two wholly-owned subsidiaries will operate with separate air operators certificates, one to be based in Norway and the other in the European Union (EU). The EU subsidiary will operate initially from Finland, commencing operations in 1Q2014, with further bases to be established in Spain and the UK. Each subsidiary will operate with a separate management and employee structure. Norwegian CEO Bjørn Kjos said: "Norwegian goes from being a Scandinavian into an international company, our organisational structure must be modernised and adapted to this. We are primarily dependent on securing traffic rights into new markets. We will also retain Norwegian roots through a new Norwegian operating company. The aim is to ensure that Norwegian in the future may be a strong and competitive global airline that creates value and provides secure jobs for all." [more - original PR - Norwegian]