Sought bankruptcy protection last year Government support boosts hope of survival -CEO Plan requires fund raising, court approval (Adds analyst, updates share price)
OSLO, Jan 21 (Reuters) - Norway backed Norwegian Air’s survival plan on Thursday as Industry Minister Iselin Nyboe said that the government had no intention of being a shareholder but would stump up cash if private investors did too.
The heavily indebted budget carrier, which has been forced to ground all but six of its 138 aircraft due to the coronavirus crisis, asked the government for help last week.
Norwegian was granted bankruptcy protection by courts in Ireland and Norway last year as it seeks to shed much of its debt. It plans to end its long-haul service.
The Australian and New Zealand dollars resumed their upward march on Thursday as domestic data spoke of continued economic recovery, while markets globally looked ahead to more stimulus in the United States under President Joe Biden.
Britain's IG said it plans to buy U.S. trading platform tastytrade for $1 billion, venturing into North America after a stellar year for the new breed of retail investment brokerages.