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(A TIMELINE is a sidebar that lists in chronological order
events related to a major news story.)
(Updates to April 14)
April 14 (Reuters) - Having grown rapidly to become Europe's
third-largest low-cost airline and one of the few to apply the
budget model to transatlantic flights, Norwegian Air
has been fighting for its survival.
On Wednesday, the carrier said it aimed to raise up to 6
billion crowns ($711 million) in fresh capital before emerging
from bankruptcy protection next month, more than the 4.5 billion
originally planned.
Following are key dates in the company's 28-year history.
April 12: Wins approval from creditors in Norway and an Oslo
court for its planned debt restructuring.
March 26: Ireland's High Court approves restructuring
scheme.
March 18: Shareholders vote in favour of restructuring plan.
Jan. 21: Norway backs Norwegian Air's survival plan.
Jan. 14: Announces end of transatlantic flights, 2,000 job
losses. Seeks government help.
2020
Dec. 17: Shareholders endorse financial rescue plan.
Dec. 8: Oslo court grants additional creditor protection.
Dec. 7: Ireland's High Court grants creditor protection to
the airline's Irish subsidiaries.
Dec. 3: Proposes converting debt to equity, offloading
planes and selling new shares.
Nov. 10: Says cash crisis could force it to halt operations
early in 2021.
Nov. 9: Norwegian government says it will not provide
additional financial support.
Aug. 28: Reports first-half losses of $610 million and says
it needs to secure funding to see it through the pandemic.
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May 18: Completes cut-price share sale and wins bondholders'
backing for a refinancing.
March 24: Receives government cash injection of 300 million
crowns.
March 16: Cancels 85% of flights and temporarily lays off
7,300 employees as the pandemic hits.
2019
Nov. 20: Appoints industry outsider Jacob Schram as CEO.
Nov. 5: Raises 2.5 billion crowns with its third share sale
in two years and a bond issue.
July 11: Co-founder Bjoern Kjos steps down as CEO.
Jan. 24: British Airways owner IAG says it will sell
its stake in the company, after trying to take it over.
2015
Oct. 22: Orders 19 Boeing 787-9 Dreamliners, more than
quadrupling its long-haul fleet.
2013
May 30: Norwegian's first intercontinental flight departs
from Oslo to New York.
2012
Jan. 25: Orders 122 planes from Boeing, 100 of which are 737
MAX 8 jets. Enters an agreement with Airbus about buying 100
A320neo jets. In total, the planes are worth 127 billion crowns.
2007
April 24: Buys FlyNordic from Finnair, becoming
the biggest low-cost airline in Scandinavia.
2003
Dec. 18: Shares are listed on Oslo Stock Exchange.
2002
Sept. 1: Rebrands as Norwegian and starts flying Boeing
737-300 planes.
1993
Jan. 22: Norwegian Air Shuttle (NAS) is founded and takes
over regional airline services on Norway's West Coast, operating
flights in cooperation with Norwegian airline Braathens. NAS
initially operates a fleet of three leased Fokker 50.
(Reporting by Tommy Lund, Paulina Cwikowska, Milla Nissi,
Aleksandra Jasiurska and Gwladys Fouche; Editing by David
Goodman, Keith Weir, Mark Potter, Kirsten Donovan)
