Norwegian Air will cut 4,000 flights and temporarily lay off half of its employees as it struggles to deal with the effects of coronavirus on the travel industry.
The airline’s announcement came amid falling demand for air travel, due to increasing travel restrictions and worried travellers opting to stay at home.
It blamed the “extraordinary market situation due to the coronavirus”, adding: “We must look at all possible measures to reduce costs.
“This unfortunately also includes temporary layoffs of up to 50% of our employees, and the number may increase.”
The airline industry is already facing an economic hit of $113bn (£88bn) from the effects of the outbreak on passenger numbers.
Analysts predict this financial loss could grow substantially from the new travel ban.
There are fears that some weaker airlines could go bust.
Read more via CNBC /Norwegian Air
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