Norwegian Air gets lifeline with help from Norway’s richest man
Norwegian Air Shuttle gained the backing of Norway’s richest man, providing some stability to the struggling discount carrier as it searches for a new suitor following IAG’s decision to abandon its eight-month pursuit. The shares fell the most on record after Norwegian said it’s raising US$353m in a rights issue underwritten by investors including shipping magnate John Fredriksen to avoid breaching financial covenants. CE Bjorn Kjos indicated Norwegian is still open to a potential buyout. Asked about Lufthansa, which held talks with Norwegian last year, and Ryanair, which has denied speculation of its interest, Kjos declined to discuss specifics. “I can’t say who, I can only say that more than one interested party has contacted us,” he said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-02-01/unaligned/norwegian-air-gets-lifeline-with-help-from-norway2019s-richest-man
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Norwegian Air gets lifeline with help from Norway’s richest man
Norwegian Air Shuttle gained the backing of Norway’s richest man, providing some stability to the struggling discount carrier as it searches for a new suitor following IAG’s decision to abandon its eight-month pursuit. The shares fell the most on record after Norwegian said it’s raising US$353m in a rights issue underwritten by investors including shipping magnate John Fredriksen to avoid breaching financial covenants. CE Bjorn Kjos indicated Norwegian is still open to a potential buyout. Asked about Lufthansa, which held talks with Norwegian last year, and Ryanair, which has denied speculation of its interest, Kjos declined to discuss specifics. “I can’t say who, I can only say that more than one interested party has contacted us,” he said. <br/>
