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Norwegian Air Shuttle : , saved from collapse, reinvents as regional carrier

Norwegian Air emerged from six months of bankruptcy protection on Wednesday with a smaller fleet and its debt almost wiped out but also facing stronger competition and lingering uncertainty. | May 26, 2021 ....

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Airline, saved from collapse, reinvents as regional carrier

May 26, 2021
OSLO: Norwegian Air emerged from six months of bankruptcy protection on Wednesday with a smaller fleet and its debt almost wiped out but also facing stronger competition and lingering uncertainty wrought by the pandemic.
The airline said on Friday it had raised 6 billion Norwegian crowns ($721 million) in fresh capital, as planned, more than enough to meet the minimum requirement set by bankruptcy courts in Dublin and Oslo.
“We have saved an airline that is of huge value to Norway and which binds our long country together,” Chief Executive Jacob Schram told a news conference.
“We’re back!” read a large banner outside the company’s headquarters to mark the occasion, while Schram hoisted a flag with Norwegian Air’s red, white and blue logo. ....

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Norwegian Air to raise more money than planned, CEO says

By Reuters Staff
1 Min Read
OSLO, April 14 (Reuters) - Norwegian Air now aims to raise up to 6 billion crowns ($711 million) in fresh capital before emerging from bankruptcy protection next month, more than the 4.5 billion originally planned, the company said on Wednesday.
“We want to take a conservative approach at a time when the pandemic and travel restrictions continue to create unpredictability in the travel sector,” Chief Executive Jacob Schram said in a statement.
$1 = 8.4380 Norwegian crowns Reporting by Terje Solsvik, editing by Gwladys Fouche ....

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Norwegian Air to raise more fresh capital than planned

Norwegian Air to raise more fresh capital than planned
Updated / Wednesday, 14 Apr 2021
09:48
Norwegian Air has been going through examinership in Ireland
Norwegian Air now aims to raise up to 6bn crowns in fresh capital, up from a planned 4.5bn, to bolster its resources before emerging from bankruptcy protection next month as the pandemic continues to curb travel.
Financed largely by debt, Norwegian Air grew rapidly, serving routes across Europe and flying to North and South America, Southeast Asia and the Middle East before the Covid-19 pandemic plunged the airline into crisis.
We want to take a conservative approach at a time when the pandemic and travel restrictions continue to create unpredictability in the travel sector, Chief Executive Jacob Schram said in a statement. ....

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Norwegian Air to raise additional cash before bankruptcy exit

By Reuters Staff
3 Min Read
OSLO (Reuters) - Norwegian Air now aims to raise up to 6 billion crowns ($711 million) in fresh capital, up from a planned 4.5 billion, to bolster its resources before emerging from bankruptcy protection next month as the pandemic continues to curb travel.
FILE PHOTO: A Norwegian Air plane is refuelled at Oslo Gardermoen airport, Norway November 7, 2019. REUTERS/Lefteris Karagiannopoulos
Financed largely by debt, Norwegian Air grew rapidly, serving routes across Europe and flying to North and South America, Southeast Asia and the Middle East before the COVID-19 pandemic plunged the airline into crisis.
“We want to take a conservative approach at a time when the pandemic and travel restrictions continue to create unpredictability in the travel sector,” Chief Executive Jacob Schram said in a statement on Wednesday. ....

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