Norwegian Air has cancelled all the 88 narrow-body jets that remained on order from Airbus, Report informs referring to Reuters.

The airline took an impairment charge of 4.8 billion crowns ($93.51 million) in the fourth quarter relating to the termination of aircraft purchase contracts with Airbus and Boeing.

Norwegian Air earlier reported that it carried 96 percent fewer passengers in January 2021 than in the same month a year earlier. Norwegian Air plans to phase out long-haul flights and focus on the European market amid the impact of the pandemic on the airline industry.