The airline sought bankruptcy protection in Ireland – known there as Examinership – last November, because its aircraft assets and some subsidiary companies are registered there. Ireland’s High Court has now approved its plans, which include quitting the long-haul market.
The same proposals will now be voted on by creditors in Norway.
“Following this, the company will start the process of raising capital with the goal of a final resolution by the end of May,” it said, adding that the goal of the process “is primarily to strengthen the company financially and to right-size the fleet in order to adapt to future demands”.
