Source: CNN International
Security & Justice
Captured Hezbollah Operative May Have Been Israeli Double Agent, Report Suggests
The alleged senior Hezbollah operative abducted by Israeli special forces last week in Batroun may have been operating as a double agent, according to a report by The Telegraph.
Monday, November 4, 2024
Lebanon’s Probe into Israeli Raid Expected to Take Days as Security Officials Weigh Theories
Lebanese authorities are ramping up investigations into an Israeli commando raid last week in the northern coastal city of Batroun, during which Imad Amhaz, a Hezbollah official, was snatched.
Monday, November 4, 2024
Opinion
The Emptying of Baalbek Is a Moment to Take Stock
“Large numbers of people continue to flee their homes every day, as Israel’s military operations in Lebanon have been going on unabated.” These disturbing words could be from almost any news report about Israel’s invasion of its northern neighbour over the past month. However, they can be found in a report by the Norwegian Refugee Council’s Internal Displacement Monitoring Centre issued on July 27, 2006.
Saturday, November 2, 2024
A Future Without Hezbollah
At the end of September, when Israel’s campaign to destroy Hezbollah was reaching its height, I met one of the group’s supporters in a seaside café in western Beirut. He was a middle-aged man with a thin white beard and the spent look of someone who had not slept for days. He was an academic of sorts, not a fighter, but his ties to Hezbollah were deep and long-standing.
Thursday, October 31, 2024
Sports
Tottenham Forward Son Heung-min Crowned Asia’s International Player of the Year
Tottenham forward Son Heung-min was crowned as Asia’s International Player of the Year for the fourth time by the Asian Football Confederation at its annual awards ceremony Tuesday.
Wednesday, October 30, 2024
Real Madrid Launch Investigation into Racist Insults After El Clasico Defeat
Real Madrid has launched an investigation into racist insults directed at players during Saturday’s 4-0 home loss to Barcelona in LaLiga, it said on Sunday.
Monday, October 28, 2024
Thursday 26 November 2020 12:57:08
Norwegian Air Has Filed for Bankruptcy
Norwegian Air is seeking protection from its creditors as it attempts to restructure its business and survive the coronavirus pandemic.
The budget carrier said in a statement on Wednesday that it has decided to file for examinership in Ireland, which is where its aircraft assets are held. Examinership allows companies to seek a court's protection from creditors for up to 100 days, and is the rough equivalent of Chapter 11 bankruptcy in the United States.
"The purpose of the process is to reduce debt, rightsize the fleet and secure new capital," Norwegian Air said. The process is expected to take up to five months, it added.
"Seeking protection to reorganize under Irish law is a decision that we have taken to secure the future of Norwegian for the benefit of our employees, customers and investors," CEO Jacob Schram said. "Our aim is to find solutions with our stakeholders that will allow us to emerge as a financially stronger and secure airline."
Norwegian Air was founded in 1993 and began a rapid expansion nearly a decade ago, seeking to apply the business model pioneered by Ryanair in Europe and Southwest in the United States to transatlantic flights. But the aggressive strategy left it with huge debts, and little room to maneuver when things went wrong.
Norwegian Air said on Wednesday that it will continue to operate its route network, which has been severely limited as a result of the coronavirus, and its shares will trade as normal on the Oslo Stock Exchange. The stock has lost more than 98% of its value this year.
The carrier warned last week that it would need additional cash to continue operating through the first quarter of next year and beyond. It received a state-backed loan of 3 billion Norwegian Krone ($288.7 million) in May, but the country's government has ruled out providing more financial assistance — a decision Schram described as "a slap in the face."
The airline carried just 1 million passengers in the third quarter, compared to 10.5 million during the same period last year. Its quarterly operating loss amounted to 2.8 billion Krone ($310 million), while cash and cash equivalents had dwindled to just 3.4 billion Krone ($376 million) at the end of September.
