(Finansavisen.en): the Situation of the airline has deteriorated sharply in recent days. The unrealized loss on the fuel is, according to the analysts now nearly 1.7 billion. A new fall of over 10 per cent in Bank Norwegian makes that loss to now in the fourth quarter has passed 1.3 billion. the
Pareto Securities expects that the Norwegian stay within egenkapitalkravet and believes that the company has a significant opportunity to strengthen the balance sheet through the sale of the aircraft.
the Loss of the Norwegian is now looking to get on the drivstoffsikring for 2018 will be expressed in considerably lower costs in 2019 (35 per cent is secured, 65 per cent is the spot), thus, earning potential increased.
That said, the winter is normally challenging for the aerospace industry, and no exception for English. The company is therefore dependent on reducing costs and improving operations even further – something we think will be visible in 2019, ” says analyst Kenneth Sivertsen of Pareto, according to Finansavisen.
Must sell fly
Sivertsen wait for a sale of up to 140 aircraft, a transaction that could include the 95 Airbus and 45 Boeing aircraft. Estimated value of the transaction may in this case be the north about 40 billion, through reduced investment obligations and liabilities.
In addition, think Pareto that the sale of the aircraft also is to strengthen the equity and provide a significant positive effect on the cash – which makes it hardly occurs to some larger questions about the creditworthiness of the company.
We believe the stock market underestimate how strong the airline market, particularly demand in Asia is solid. We think the English have more opportunities and interested parties, which makes that the planes being sold is approximately equal to the market value, ” says Sivertsen, according to the newspaper.
In this case, both the debt and the financial risk is reduced significantly. After meglerhusets view, it is the right of the English to take the time to get it completed a transaction – rather than to push it through because the stock market is concerned about equity.
Think of the company the Investments that Airlines have made over several years and the company is built up is without a doubt impressive, believe Sivertsen.
Although English is now struggling with a stretched balance sheet, so we believe the company has both options and means to get through.
the Focus is now on increasing profitability and maximize shareholder value, something we think the company is to succeed with. In the background, as is IAG interested in buying English, possibly also Lufthansa (plus more) – in total then, we believe Norwegian will provide a good, ” he says to the newspaper.
on Wednesday evening, wrote chief financial officer Geir Karlsen that the company is still in talks regarding the establishment of a flåtesamarbeid, which means that the management is trying to sell out the whole or parts of the fleet.
Norwegian advertises itself with the fact that they have one of the youngest fleets in the industry, using 15 to 20 per cent less fuel than other aircraft. The company has nearly 200 aircraft of the type Boeing 737 Max and Airbus A320 Neo to the delivery.
It is precisely these aircraft leasing companies, especially in Asia, ” says an unnamed investor to Mallorca.
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