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Geir Karlsen

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Geir Karlsen
Geir Karlsen
Born1965 (age 61–60)
NationalityNorwegian
EducationBI Norwegian Business School (business administration)
OccupationBusiness executive
CompanyNorwegian Air Shuttle
TitleChief Executive Officer, Norwegian Air Shuttle
Children2

Geir Magne Karlsen (born 1965) is a Norwegian business executive who has been chief executive officer of Norwegian Air Shuttle, the Oslo-listed low-cost airline group, since June 21, 2021.[1] A finance specialist trained at BI Norwegian Business School, he spent most of his early career in the shipping and offshore drilling industries, including roles in companies associated with the shipowner John Fredriksen, before joining the airline as chief financial officer in April 2018.[1][2]

Karlsen joined Norwegian as it was trying to move from rapid long-haul expansion to profitability. He became deputy chief executive in April 2019 and acting chief executive when the airline's founder, Bjørn Kjos, stepped down in July 2019. He then returned to the finance role when Jacob Schram took over as chief executive in January 2020.[3][4][5] As chief financial officer during the COVID-19 pandemic, he led the financial side of a restructuring that ran through an examinership in Ireland and a reconstruction process in Norway. The company said the process cut its total debt by about NOK 63 billion to NOK 65 billion and reduced its fleet from 156 aircraft to 51.[6]

The board dismissed Schram less than a month after the airline emerged from restructuring and appointed Karlsen chief executive. The chair, Svein Harald Øygard, said Karlsen had "successfully led the financial reconstruction of Norwegian".[1] His first weeks in the role were overshadowed by criticism of NOK 11 million retention bonuses paid to him and to Schram shortly before the change of board. Norway's trade minister called the payments a sign of "poor judgment".[7]

Under Karlsen the airline returned to profit. It reported an operating profit of NOK 1,502 million for 2022 and NOK 3,732 million for 2025, the highest in its history. In 2025 it paid the first dividend since its foundation.[8][9][10] He led the acquisition of the regional carrier Widerøe, completed in January 2024. In June 2026 he agreed a deal worth about SEK 7.94 billion to buy Nordic Leisure Travel Group, owner of the Ving, Spies and Tjäreborg tour operators and Sunclass Airlines; that deal was still awaiting completion as of October 2026.[11][12][13] As of October 2026 he remains chief executive. He is also a board member of Møller Mobility Group.[14][15]

Early life and education

Karlsen was born in 1965 and is a Norwegian citizen.[1][16] He holds a degree in business administration from BI Norwegian Business School in Oslo.[1][17] The company biographies and press coverage consulted for this article do not describe his family background or schooling before university, and they do not give the year of his degree.

Career

Frontline and Golden Ocean (2000 to 2010)

Karlsen worked for the tanker company Frontline from 2000. In 2006 he moved to Golden Ocean Management AS, the management company of the dry bulk shipowner Golden Ocean Group, where he served as chief financial officer.[16] Both companies were part of the group of businesses controlled by John Fredriksen. The English-language Norwegian news site newsinenglish.no later noted that Karlsen "has also worked for Fredriksen over the years", a link that drew comment in 2021 when Fredriksen became the largest shareholder in the restructured Norwegian Air Shuttle.[2]

The shipping newspaper TradeWinds reported on April 28, 2010 that Karlsen had "surprisingly quit" Golden Ocean. The company's chief executive, Herman Billung, said there had been no falling out: "He has been with the organization for quite a few years and it appears he would like to do something new with his life."[18]

Songa Offshore (2010 to 2013)

On May 3, 2010 the offshore drilling contractor Songa Offshore announced that Karlsen would become its chief financial officer from August 2, 2010. He replaced Tom E. Jebsen, who moved to a senior vice president role. The company described the change as "an effort to strengthen the management team".[16] Newsinenglish.no later wrote that Karlsen gained "experience in debt work-out plans" in his finance roles at Golden Ocean and Songa Offshore, experience it linked to his later work on Norwegian Air Shuttle's debt.[19]

Karlsen then became group chief financial officer of Navig8 Group, a London-based shipping company that Norwegian Air Shuttle described as "the world's largest independent pool and management company".[20] The sources consulted do not give the date he joined Navig8. He left in early 2018 to join the airline.[21]

Chief financial officer of Norwegian Air Shuttle (2018 to 2019)

Norwegian Air Shuttle announced Karlsen's appointment as chief financial officer on January 3, 2018. He was to start no later than April 3. The post had been held on an acting basis by Tore Østby, the head of investor relations, since the sudden departure of the long-serving finance director Frode Foss in July 2017.[21] Karlsen was 52 at the time.[20] Kjos said that much of Karlsen's experience "clearly resembles the airline industry, where lease agreements and financing of major transactions are key to succeed". Karlsen said he hoped his background would "contribute to further developing the company".[20]

He arrived at a difficult time. The airline had grown rapidly into transatlantic and other long-haul flying with Boeing 787 Dreamliners. It had taken on heavy debt and was dealing with engine problems on its long-haul fleet. In December 2018 Karlsen said the company was still working to set up a joint venture to own aircraft, part of a plan to sell or spin off up to 140 aircraft.[22] In January 2019 analysts questioned the airline's cash position. Karlsen told Dagens Næringsliv that "we have not violated terms of our loans so far and there's nothing to indicate that we will do so in the fourth quarter".[23]

On April 8, 2019 the airline made Karlsen deputy chief executive, a role he held alongside the finance post. Kjos said Karlsen had "during his one-year tenure at Norwegian proven solid leadership skills" and had the trust of "colleagues on all levels".[3][24] A month earlier, the airline had grounded its Boeing 737 MAX aircraft, as the type was grounded worldwide after two fatal accidents.[25]

Acting chief executive (2019)

Kjos stepped down as chief executive on July 11, 2019, after 17 years in the job, and became an adviser to the chair. Karlsen, then 54, became interim chief executive while the chair, Niels Smedegaard, took a more active role in management and the board searched for a permanent successor.[4] At the press conference Kjos said he had "no problem letting Geir Karlsen take on all the problems with the MAX aircraft and the Dreamliners". Asked whether he would get the job permanently, Karlsen said: "Time will tell who will become the new chief executive."[25]

His main task as acting chief was refinancing. In September 2019 lenders agreed to defer repayment of NOK 3.4 billion of bonds by up to two years. The airline had offered its landing slots at Gatwick Airport as security. Asked by Dagens Næringsliv whether he had taken any summer holiday that year, Karlsen replied, "Three days!"[19] In October 2019 he announced a planned partnership with the US carrier JetBlue to connect passengers on Norwegian's transatlantic flights to JetBlue's domestic network.[26] Later that month the airline reported third-quarter pre-tax earnings of NOK 2.2 billion, up from NOK 1.6 billion a year earlier. It said the improvement came from higher revenue, lower costs and slower growth. Karlsen thanked "everyone in Norwegian who has contributed to delivering considerable cost cuts so far this year".[27]

On November 20, 2019 the board named Jacob Schram, a former chief executive of Statoil Fuel and Retail and later head of Circle K's European business, as chief executive from January 1, 2020. Karlsen stayed on as chief financial officer and deputy chief executive. Smedegaard thanked him for "his remarkable efforts since Bjørn Kjos stepped down in July" and said the company had delivered the highest quarterly profit in its history during his interim period.[5][28]

Pandemic restructuring (2020 to 2021)

The COVID-19 pandemic grounded most of Norwegian's fleet in early 2020. Karlsen, as chief financial officer, ran the first rescue: a recapitalisation of about NOK 12.7 billion, completed on May 20, 2020. Bondholders and aircraft lessors converted a large part of their claims into equity, and a NOK 400 million share offering was held alongside. The conversion met the conditions for further tranches of a Norwegian state loan guarantee. "The negotiations have been tough, but constructive with significant contributions from all stakeholders," Karlsen said.[29]

On June 29, 2020 the company cancelled its remaining orders for five Boeing 787s and 92 Boeing 737 MAX aircraft and sued Boeing for the return of pre-delivery payments and compensation for the MAX grounding and the 787 engine problems.[30] "We still want to reach a commercial agreement," Karlsen told Dagens Næringsliv, "and if we don't get one, this lawsuit is an alternative."[31] In September 2020 Karlsen and Schram met the trade and transport ministers to ask for more state support. Karlsen confirmed to the press that the airline needed fresh capital to survive the winter.[32]

On November 18, 2020 the company put its Irish subsidiaries Norwegian Air International and Arctic Aviation Assets, which held the aircraft, into examinership under Irish law. Norwegian Air Shuttle ASA joined the process as a related party. Karlsen was the named contact on the announcement.[33] A supplementary reconstruction process in Norway followed in December. On January 14, 2021 the board presented a plan to abandon long-haul flying, focus on a short-haul Nordic and European network of about 50 Boeing 737s, reduce debt to around NOK 20 billion and raise NOK 4 billion to NOK 5 billion in new capital.[34]

The High Court of Ireland and the Oslo District Court approved the scheme in March and April 2021, and it became final in May.[35] A capital raise of up to NOK 6 billion[36] brought in new cornerstone investors, including Fredriksen's Geveran Trading, the Sundt family, DNB Asset Management and Ludvig Lorentzen. "It was important for us to have cornerstone investors who signaled strong interest for our business plan," Karlsen said.[37] The company left restructuring on May 26, 2021. It said it had cut total debt since the end of 2019 by about NOK 63 billion to NOK 65 billion, shrunk the fleet from 156 to 51 aircraft, and cancelled Boeing and Airbus orders worth about NOK 85 billion in capital commitments. It expected total liabilities of about NOK 16 billion to NOK 18 billion after completion.[6]

Chief executive (2021 to present)

Late on June 20, 2021 the new board, chaired by Svein Harald Øygard, voted to end Schram's tenure. Karlsen was announced as chief executive the next morning, with immediate effect, on a salary of NOK 4.5 million. He also received a bonus tied to the 2021 to 2022 business plan and share options priced at that day's closing share price.[1][38] Øygard told Dagens Næringsliv that the board wanted "even stronger emphasis on the financial and operative sides. That's what the company needs now, and then Geir Karlsen was the right choice."[2] Karlsen said the priorities would be "to increase the profitability of our low-cost operations and to attract new and existing customers in all key markets".[1]

He kept the finance portfolio as well until Hans-Jørgen Wibstad, formerly of Multiconsult and Kongsberg Gruppen, took over as chief financial officer in May 2022.[39] The company later paid Karlsen a one-time NOK 1.5 million for doing both jobs from July 1, 2021 to May 8, 2022.[40]

In his first months he introduced a more seasonal operating model. Aircraft would be parked and flights cut at short notice in weak months, using leases that charged only for hours flown. "November and February are the two worst months of the year," he said in August 2021. "We'll fly the planes less and make adjustments in the course of the day."[41] In 2022 the airline settled its disputes with Boeing and recommitted to buying 50 Boeing 737 MAX 8 aircraft, with options for 30 more. It booked a net gain of about NOK 2 billion on the settlement.[42] In 2023 it took over six 737 MAX aircraft from the bankrupt Norwegian start-up Flyr on what Karlsen called "very, very favourable terms", and hired many of Flyr's pilots and cabin crew.[43]

From 2022 Karlsen pursued a closer relationship with the Norwegian regional airline Widerøe. A cooperation agreement in July 2022 led to a full acquisition, agreed in July 2023 and completed in January 2024.[44][11] In 2023 he also set up a joint loyalty company with the hotel group Strawberry, owned by Petter Stordalen. That company later became the Spenn platform.[45][17] In late 2024 the company launched "Program X", a profitability programme that it says is on track to deliver more than NOK 1.25 billion in recurring annual profit improvement by the end of 2026.[17][14]

In September 2025 Norwegian exercised its options for 30 more 737 MAX 8 aircraft, raising the firm order to 80, with the last delivery now due in 2031.[46] When Øygard stepped down as chair in November 2025, he thanked "especially CEO Geir Karlsen for the tremendous job he has been doing". He listed three targets the company had met: a positive nominal return for taxpayers on the pandemic rescue loan, the first dividend in company history, and the best quarterly result to that date.[47] Dag Mejdell succeeded him as chair.[17]

In June 2026 Karlsen agreed to buy Nordic Leisure Travel Group, discussed below. In October 2026 Wibstad announced he would leave at the end of the month to become chief financial officer of Multiconsult. Gjermund Aasen, previously of Golden Ocean Management, became interim chief financial officer from November 1, 2026.[48] On October 28, 2026 Karlsen presented third-quarter results showing an operating profit of NOK 2,728 million and an operating margin of 21.4 percent.[14]

Leadership and management style

Karlsen's reputation rests mainly on financial restructuring. In June 2021 newsinenglish.no reported that many media commentators and financial experts claimed he had "made financial history" in Norway through his dealings with creditors and new investors.[49] Øygard spoke of the "miracles" Karlsen had achieved in the financial reconstruction. He said the board wanted "more focused management of the company with an emphasis on delivering" over the following years.[2] When Karlsen was appointed chief executive, Alf Hansen, leader of the airline's pilots' union, called him "both the brain and implementer" of the recovery and said he was "someone in which we (the pilots) have put all our confidence".[49]

Cabin crew representatives were more critical. In September 2021 union leaders described him as a "number-cruncher" who had been less visible to employees than earlier management. René-Charles Gustavsen, leader of the cabin crew union, said staff had been caught by surprise when Karlsen mentioned plans for more seasonal staffing while presenting quarterly results.[50]

His public statements as chief executive have focused on cost control, capacity discipline and cash. He has repeatedly cut capacity sharply in winter; for winter 2026 to 2027 the company planned monthly capacity 25 to 40 percent below its October 2026 level.[14] He has said the airline's results depend more on winter than on summer: "I really don't think Norwegian's bottom line is most affected by summer traffic but by winter traffic."[41] After 2023 he shifted more of his attention to growth through acquisitions and partnerships. Newsinenglish.no wrote that year that he was "back on the offensive and clearly keen to expand again".[43]

Major deals and strategic decisions

Restructuring, 2020 and 2021

As chief financial officer, Karlsen was central to the 2020 debt-for-equity conversion and the 2020 to 2021 Irish and Norwegian court processes. These processes ended long-haul flying and cut the fleet to 51 aircraft.[29][6] The company's long-haul aircraft and routes were largely taken up by the start-up Norse Atlantic Airways.[37]

Widerøe

On July 6, 2023 Norwegian agreed to buy Widerøe for NOK 1,125 million in cash, subject to adjustments. At the time Widerøe had close to 50 aircraft, around 20 percent of the Norwegian domestic market by passengers, and 2022 revenue of NOK 5.7 billion. "This is a milestone in Norwegian aviation history," Karlsen said.[51] Widerøe's owner, Brynjar Forbergskog, said the airline's chief executive, Stein Nilsen, had introduced him to Karlsen about six months earlier.[43] In November 2023 the Norwegian Competition Authority warned that it might block the deal, but it approved it on December 21, 2023. Karlsen said the authority had "taken our inputs into account".[52] The deal closed on January 12, 2024. Widerøe kept its own brand and its head office in Bodø.[11][52]

Fleet

Under Karlsen the company went from rejecting the Boeing 737 MAX to making it the basis of its fleet. It cancelled 92 MAX orders and sued Boeing in 2020, then recommitted to 50 aircraft in 2022 and expanded the order to 80 in 2025.[30][42][46] In 2025 the company bought 13 Boeing 737-800s it had previously leased.[10] At the end of 2025 Norwegian's fleet had 95 aircraft, 35 of them 737 MAX 8s, and Widerøe had 51 aircraft, for a group total of 146.[17]

Nordic Leisure Travel Group

On June 16, 2026 Norwegian agreed to buy Nordic Leisure Travel Group AB, owner of the Ving, Spies, Tjäreborg and Globetrotter tour operators, concept hotels and the charter airline Sunclass Airlines. The price was about SEK 7.94 billion: SEK 3.5 billion in cash and 300 million new Norwegian shares, with up to 30 million more shares to be determined. Fredriksen's Geveran Trading, the largest shareholder, supported the deal. On completion, the sellers, Strawberry Equities and funds managed by Altor and TDR Capital, were to become significant shareholders in the airline.[12] The company said the deal would raise annual group operating revenue by close to 50 percent. Karlsen called it "a milestone in Nordic travel history" and said the aim was "turning every flight into a potential gateway to a full holiday experience".[53] Shareholders approved the share issue on July 8, 2026.[54] As of October 2026 completion was still subject to regulatory approvals, including EU competition clearance, and was targeted for the end of the fourth quarter of 2026.[12][13]

Financial and market performance

The table shows the full-year group operating profit (EBIT) reported during Karlsen's time as chief executive. Figures from 2024 include Widerøe.

Year Operating profit (EBIT) Notes
2022 NOK 1,502 million Year-end fleet of 70 aircraft; cash of NOK 7.8 billion[8]
2023 NOK 2,232 million Then a company record; operating margin of 9 percent; liquidity of NOK 9.5 billion[55]
2024 NOK 1,873 million First year with Widerøe; reduced by a weaker krone in the fourth quarter[56][57]
2025 NOK 3,732 million Company record; operating margin of 9.9 percent; revenue of NOK 37,646 million[9][17]

Group passenger numbers rose from 26.4 million in 2024 to 27.3 million in 2025.[9] Profit before tax for 2025 was NOK 3,016 million and net profit NOK 2,708 million.[17] In July 2025 the board declared a dividend of NOK 0.90 per share, the first in the company's 23-year history.[10] For 2025 it proposed a further NOK 0.80 per share, about NOK 844 million in total.[9] In September 2026 the company repaid its last outstanding bond. It ended the third quarter of 2026 with liquidity of NOK 11.2 billion.[14] At the end of 2025 the group had 8,795 permanent employees.[17]

Compensation and shareholding

The company's 2022 annual report gives Karlsen's 2021 compensation as NOK 16.1 million. This was made up of a salary of NOK 4.875 million, a bonus of NOK 11 million, and benefits and pension. His 2022 compensation was NOK 6.5 million, including the NOK 1.5 million payment for doing both the chief executive and chief financial officer jobs. The report also states that a NOK 5 million bonus paid to him in 2020 was reversed, and that he repaid the net after-tax amount of NOK 2.5 million.[40] On becoming chief executive he received one million share options, vesting in four annual tranches from June 2022.[17] At the end of 2025 he held 651,478 shares and 3,802,707 options in the company.[17]

Board memberships and outside roles

As of October 2026 the Brønnøysund Register Centre lists Karlsen as a board member of Møller Mobility Group AS.[15] The register also lists him as general manager (daglig leder) of Norwegian Air Shuttle ASA.[58] He was listed as a speaker at the Stockholm Chamber of Commerce's Unleashed 2026 event.[59]

Controversies

2021 bonuses

On June 22, 2021, the day after Karlsen became chief executive, the financial news service E24 reported that he and Schram had each received bonuses in May 2021, shortly before a new board took control. Dagens Næringsliv reported the amount as NOK 11 million each.[49] The airline had received state crisis support during the pandemic. The government had attached conditions on executive pay to its aviation loan guarantee programme. Tens of thousands of customers were still waiting for refunds for cancelled flights.[7]

The new board called the payments umusikalsk (roughly "out of tune").[49] Trade and Industry Minister Iselin Nybø said the airline's lawyers denied breaching its agreement with the state, and that the company insisted state support had not been used for the bonuses. She nonetheless called the payments "extremely disappointing". She said they showed a "lack of solidarity" with employees, customers, shareholders and creditors, and called it "poor judgment". She added: "The board (of Norwegian) and chief executive Geir Karlsen have a big job ahead in trying to clarify this and build Norwegian's reputation up again."[7] The airline's lawyer told the minister that potential investors had wanted bonuses to keep executives in place during the reorganisation. He also said Karlsen and Schram had not wanted the bonuses but the former chair, Niels Smedegaard, had insisted. Several of the new institutional investors denied asking for bonuses. The head of the pension fund Folketrygdfondet called them "unreasonable". Karlsen and Schram did not comment publicly.[7]

Newsinenglish.no wrote that the controversy had "severely damaged" the credibility of both executives.[49] It reported in November 2022 that the airline was "still in political trouble" over the bonuses.[60] The company's 2022 annual report records that a separate NOK 5 million bonus paid to Karlsen in 2020 was reversed, with NOK 2.5 million after tax repaid.[40]

Competition with Flyr

After the Norwegian start-up Flyr went bankrupt in 2023, it complained that Norwegian had made things harder by scheduling flights to the same destinations very close to Flyr's departures and intensifying a fare war. Flyr's bankruptcy administrator, Stine Snertingdalen, noted that Norwegian had come through its own reconstruction with more than 90 percent of its debt forgiven.[43]

Personal life

In 2010 Karlsen lived in Oslo and was married with two children.[16] He has not discussed his private life in the sources consulted for this article.

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 <ref>"Geir Karlsen appointed new CEO of Norwegian".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.June 21, 2021.Retrieved October 29, 2026.</ref>
  2. ↑ 2.0 2.1 2.2 2.3 <ref>Berglund, Nina."More turbulence at Norwegian Air".June 21, 2021.Retrieved October 29, 2026.</ref>
  3. ↑ 3.0 3.1 <ref>"Norwegian Air Shuttle has appointed deputy CEO".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.April 8, 2019.Retrieved October 29, 2026.</ref>
  4. ↑ 4.0 4.1 <ref>"CFO Geir Karlsen appointed interim CEO of Norwegian as Bjørn Kjos steps down".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.July 11, 2019.Retrieved October 29, 2026.</ref>
  5. ↑ 5.0 5.1 <ref>"Jacob Schram appointed new CEO of Norwegian".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.November 20, 2019.Retrieved October 29, 2026.</ref>
  6. ↑ 6.0 6.1 6.2 <ref>"Norwegian Air Shuttle ASA (NAS): Emergence from financial restructuring, occurrence of Effective Date".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.May 26, 2021.Retrieved October 29, 2026.</ref>
  7. ↑ 7.0 7.1 7.2 7.3 <ref>Berglund, Nina."Government scolds Norwegian Air".July 1, 2021.Retrieved October 29, 2026.</ref>
  8. ↑ 8.0 8.1 <ref>"Norwegian reports an operating profit (EBIT) of NOK 1,502 million for 2022".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.February 16, 2023.Retrieved October 29, 2026.</ref>
  9. ↑ 9.0 9.1 9.2 9.3 <ref>"Norwegian Group delivers record result for 2025 and increases dividend".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.February 13, 2026.Retrieved October 29, 2026.</ref>
  10. ↑ 10.0 10.1 10.2 <ref>"Norwegian Group announces dividend following strong second quarter".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.July 11, 2025.Retrieved October 29, 2026.</ref>
  11. ↑ 11.0 11.1 11.2 <ref>"Norwegian completes the acquisition of Widerøe".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.January 12, 2024.Retrieved October 29, 2026.</ref>
  12. ↑ 12.0 12.1 12.2 <ref>"Norwegian agrees to acquire Nordic Leisure Travel Group".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.June 16, 2026.Retrieved October 29, 2026.</ref>
  13. ↑ 13.0 13.1 <ref>"Norwegian Air Shuttle ASA (NAS): Approval and publication of prospectus".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.October 16, 2026.Retrieved October 29, 2026.</ref>
  14. ↑ 14.0 14.1 14.2 14.3 14.4 <ref>"Norwegian Group with strong third quarter results".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.October 28, 2026.Retrieved October 29, 2026.</ref>
  15. ↑ 15.0 15.1 <ref>"Roller: Møller Mobility Group AS (organisation number 984 599 730)".Brønnøysund Register Centre.Retrieved October 29, 2026.</ref>
  16. ↑ 16.0 16.1 16.2 16.3 <ref>"Songa Offshore SE: Organizational Changes".Songa Offshore SE via Investegate.May 3, 2010.Retrieved October 29, 2026.</ref>
  17. ↑ 17.00 17.01 17.02 17.03 17.04 17.05 17.06 17.07 17.08 17.09 <ref>"Norwegian Air Shuttle ASA (NAS): Integrated Annual Report 2025".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.April 10, 2026.Retrieved October 29, 2026.</ref>
  18. ↑ <ref>Pierce, Andy."Karlsen quits Golden Ocean".April 28, 2010.Retrieved October 29, 2026.</ref>
  19. ↑ 19.0 19.1 <ref>"Norwegian landed new debt deal as oil prices took off".September 19, 2019.Retrieved October 29, 2026.</ref>
  20. ↑ 20.0 20.1 20.2 <ref>"Norwegian makes several changes to its Group Management".Norwegian Air Shuttle.January 3, 2018.Retrieved October 29, 2026.</ref>
  21. ↑ 21.0 21.1 <ref>Lorentzen, Marius."Geir Karlsen er ny finansdirektør i Norwegian".January 3, 2018.Retrieved October 29, 2026.</ref>
  22. ↑ <ref>"Norwegian Air lands in more trouble".December 20, 2018.Retrieved October 29, 2026.</ref>
  23. ↑ <ref>"Norwegian Air denies cash problems".January 8, 2019.Retrieved October 29, 2026.</ref>
  24. ↑ <ref>"Norwegian Air Shuttle appoints deputy CEO".April 8, 2019.Retrieved October 29, 2026.</ref>
  25. ↑ 25.0 25.1 <ref>Berglund, Nina."New chief takes the helm at Norwegian".July 11, 2019.Retrieved October 29, 2026.</ref>
  26. ↑ <ref>"Norwegian Air finds new 'dream' partner".October 21, 2019.Retrieved October 29, 2026.</ref>
  27. ↑ <ref>"Norwegian Air flies on good news".October 24, 2019.Retrieved October 29, 2026.</ref>
  28. ↑ <ref>Berglund, Nina."New Norwegian Air boss in the wings".November 20, 2019.Retrieved October 29, 2026.</ref>
  29. ↑ 29.0 29.1 <ref>"Norwegian Air Shuttle ASA (NAS): Detailed results of the NOK 12.7 billion recapitalization, Completion of the Offering and Debt Conversion".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.May 20, 2020.Retrieved October 29, 2026.</ref>
  30. ↑ 30.0 30.1 <ref>"Norwegian Air Shuttle ASA (NAS): Notice of termination to the Boeing Company of purchase agreements and GoldCare agreement".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.June 29, 2020.Retrieved October 29, 2026.</ref>
  31. ↑ <ref>"Norwegian Air sues Boeing".June 30, 2020.Retrieved October 29, 2026.</ref>
  32. ↑ <ref>"More Corona aid for a 'fragile' economy".September 23, 2020.Retrieved October 29, 2026.</ref>
  33. ↑ <ref>"Norwegian initiates a reorganisation plan with its daughter companies NAI and AAA seeking protection under Irish Examinership".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.November 18, 2020.Retrieved October 29, 2026.</ref>
  34. ↑ <ref>"Norwegian Air Shuttle (NAS): Presents indicative plan for Reconstruction, exit of Examinership and Reconstruction processes and post-reconstruction Company".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.January 14, 2021.Retrieved October 29, 2026.</ref>
  35. ↑ <ref>"Norwegian Air Shuttle ASA (NAS): Reconstruction Plan approved".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.May 18, 2021.Retrieved October 29, 2026.</ref>
  36. ↑ <ref>"Norwegian Air Shuttle ASA: Final results of the Capital Raise".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.May 25, 2021.Retrieved October 29, 2026.</ref>
  37. ↑ 37.0 37.1 <ref>"Airlines fly into an uncertain market".May 4, 2021.Retrieved October 29, 2026.</ref>
  38. ↑ <ref>"Norwegian names Geir Karlsen as new CEO".June 22, 2021.Retrieved October 29, 2026.</ref>
  39. ↑ <ref>"Norwegian Air Shuttle ASA (NAS): Hans-Jørgen Wibstad appointed CFO".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.November 24, 2021.Retrieved October 29, 2026.</ref>
  40. ↑ 40.0 40.1 40.2 <ref>"Norwegian Air Shuttle Annual Report 2022".Norwegian Air Shuttle ASA.April 27, 2023.Retrieved October 29, 2026.</ref>
  41. ↑ 41.0 41.1 <ref>Berglund, Nina."Norwegian Air may cut winter flights".September 1, 2021.Retrieved October 29, 2026.</ref>
  42. ↑ 42.0 42.1 <ref>"Norwegian Air Shuttle ASA (NAS): Concludes agreement to purchase 50 Boeing 737 MAX 8 aircraft".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.June 22, 2022.Retrieved October 29, 2026.</ref>
  43. ↑ 43.0 43.1 43.2 43.3 <ref>"Norwegian Air spreads its wings".July 7, 2023.Retrieved October 29, 2026.</ref>
  44. ↑ <ref>"Norwegian Air Shuttle ASA (NAS): Widerøe and Norwegian signs Letter of Intent for comprehensive co-operation".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.July 12, 2022.Retrieved October 29, 2026.</ref>
  45. ↑ <ref>"Norwegian and Strawberry to establish joint company for loyalty programmes".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.June 27, 2023.Retrieved October 29, 2026.</ref>
  46. ↑ 46.0 46.1 <ref>"Norwegian orders 30 Boeing 737 aircraft".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.September 26, 2025.Retrieved October 29, 2026.</ref>
  47. ↑ <ref>"Notice of Extraordinary General Meeting: Election of new Chair of the Board".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.October 28, 2025.Retrieved October 29, 2026.</ref>
  48. ↑ <ref>"Norwegian Air Shuttle ASA (NAS): Hans-Jørgen Wibstad resigns as CFO".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.October 8, 2026.Retrieved October 29, 2026.</ref>
  49. ↑ 49.0 49.1 49.2 49.3 49.4 <ref>Berglund, Nina."Bonuses spoil the 'New Norwegian Air's' take-off".June 25, 2021.Retrieved October 29, 2026.</ref>
  50. ↑ <ref>"Warnings against more airline aid".September 17, 2021.Retrieved October 29, 2026.</ref>
  51. ↑ <ref>"Norwegian announces agreement to acquire Widerøe".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.July 6, 2023.Retrieved October 29, 2026.</ref>
  52. ↑ 52.0 52.1 <ref>"Norwegian gets go-ahead to acquire Widerøe".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.December 21, 2023.Retrieved October 29, 2026.</ref>
  53. ↑ <ref>"Norwegian to acquire Nordic Leisure Travel Group".Norwegian Air Shuttle.June 16, 2026.Retrieved October 29, 2026.</ref>
  54. ↑ <ref>"Norwegian Air Shuttle ASA (NAS): Minutes from Extraordinary General Meeting 2026".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.July 8, 2026.Retrieved October 29, 2026.</ref>
  55. ↑ <ref>"Norwegian delivered a record strong operating profit of NOK 2,232 million for 2023".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.February 16, 2024.Retrieved October 29, 2026.</ref>
  56. ↑ <ref>"The Norwegian Group with capacity ramp-up in 2024".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.February 13, 2025.Retrieved October 29, 2026.</ref>
  57. ↑ <ref>"Norwegian Air Shuttle ASA (NAS): Norwegian full-year results impacted by weakening NOK during the fourth quarter".Norwegian Air Shuttle ASA via Oslo Børs NewsWeb.January 13, 2025.Retrieved October 29, 2026.</ref>
  58. ↑ <ref>"Roller: Norwegian Air Shuttle ASA (organisation number 965 920 358)".Brønnøysund Register Centre.Retrieved October 29, 2026.</ref>
  59. ↑ <ref>"Geir Karlsen: Chief Executive Officer, Norwegian, Unleashed 2026".Stockholm Chamber of Commerce.Retrieved October 29, 2026.</ref>
  60. ↑ <ref>"Airlines brace for rough winter, SAS faces another strike".November 10, 2022.Retrieved October 29, 2026.</ref>
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