Norwegian Air’s cash crisis could force the debt-laden budget airline to halt operations early next year, the company warned as it issued another plea for rescue funding after reporting quarterly results on Tuesday. The rapid expansion of the pioneer in low-fare transatlantic flights has left it with heavy debts and problems that have been compounded by the COVID-19 pandemic. It is now serving domestic routes only, with just six of its 140 aircraft flying. “Norwegian is dependent on additional working capital in order to continue operating through the first quarter of 2021 and beyond,” the carrier said. The company held cash and cash equivalents of 3.4 billion kroner ($380m) at the end of September, down from 4.98 billion kroner ($550m) three months earlier. Its latest plea comes after Nor...
West African leaders under the regional bloc ECOWAS have said they would dispatch envoys to Mali to help secure “the return of constitutional order”. In a video conference on Thursday, they called for the ousted Malian president to be restored to office. “We have decided to immediately send a high-level delegation in order to ensure the immediate return of constitutional order,” the regional bloc ECOWAS said at the end of a video summit. “We call for the restoration of President Ibrahim Boubacar Keita as president,” it said in a closing statement read by the president of Niger, Mahamadou Issoufou, who chairs the group. “Mali is in a critical situation, with serious risks that a collapse of the state and institutions leads to reversals in the fight against terrorism and organised crime, wit...
Group lauds governments, Nigerians on fight against coronavirus
The Woman and Half Initiative (WAH), a group of successful professional women, has hailed the efforts of governments and Nigerians to contain the Novel Coronavirus (COVID-19) pandemic. Mrs Chile Udemgba, the WAH Promoter, made the commendation in a statement to newsmen in Lagos. She expressed joy that Nigeria was among the countries which recorded the lowest COVID-19 cases. “As the society gradually evolves from a crippling lockdown occasioned by the COVID-19 pandemic, we celebrate the effusive Nigerian spirit which has seen us all wrestle this pandemic down with our country recording some of the lowest incidences in the world,” she said. Udemgba noted that the lockdown caused many economies and businesses to collapse, thereby hindering progress. According to her, the group would celebrate...