Norwegian is cancelling about 3,000 flights till mid-June subsequent a decrease in desire from the coronavirus outbreak.
That is about 15pc of the airline’s total capacity for this period of time.
The organization has also put several other measures in spot, including temporary layoffs of a “considerable share of its workforce”.
Influenced buyers will be informed about cancellations.
Chief executive Jacob Schram explained: “Unfortunately, cancellations will affect a considerable share of our colleagues at Norwegian. We have initiated official consultations with our unions with regards to temporary layoffs for flying crew users as very well as workforce on the floor and in the offices.”
He additional: “This is a important time for the aviation marketplace, including us at Norwegian. We encourage the authorities to instantly put into action measures to imminently lower the economical load on the airways in order to guard vital infrastructure and positions.”
The Telegraph claimed on Sunday that Arrowstreet Funds, a $106bn (£81bn) hedge fund introduced by United kingdom-born Harvard professor John Campbell, is among traders betting Norwegian will be the next airline to are unsuccessful.
Numerous airways have slashed capacity to and from Italy in the wake of the nationwide lockdown announced on Monday.
Ryanair will suspend all flights till April 8, while British Airways has also stopped flying to Italy.
EasyJet carries on to operate a small variety of flights to the place.