Norwegian Air aims to restructure, sell planes and shares in bid to survive ...Middle East

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Norwegian Air aims to restructure, sell planes and shares in bid to survive
source : Devdiscourse ( Middle East ) () 9
Norwegian Air proposed on Thursday to convert debt to equity, offload planes and sell new shares in an attempt to survive the COVID-19 pandemic, which has brought the company to its knees. As part of the plan, the Oslo-based carrier, which recently applied for bankruptcy protection in an Irish court, aims to raise up to 4 billion Norwegian crowns ($455.4 million) from the sale of new shares or hybrid instruments, it said.

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