The government had put several conditions for participating in the Norwegian airline’s restructuring, including that the
“The state has no ambitions to become an owner of Norwegian,” stressed Trade Minister
Earlier this month, the airline said it will end its long-haul operations and instead focus on European destinations as it struggles with the fallout of the coronavirus pandemic and debt restructuring. The company presented a plan that cut its fleet from 140 aircraft to about 50.
In its plan, Norwegian wants to reduce its total debt to around
The plan must be approved by a bankruptcy court in
Like other airlines, its fleet is now mostly grounded as the pandemic has caused a near-total halt to global travel.
In May last year, the carrier got
The government only changed its mind about giving financial support to the company after it presented a restructuring plan that included tapping private sector investors for money.
Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source