Norwegian seeks urgent govt support

Norwegian is asking the govt in Oslo for an immediate bailout as it struggles to cope with the coronavirus outbreak that is decimating travel demand. “We’re in a very demanding situation at the moment,” states CE Jacob Schram. “We need exact measures to strengthen our liquidity in the short term immediately.” While the carrier welcomes a move to suspend some taxes levied on airlines such as passenger fees, “it is crucial for us that the govt will work on solutions for a phase 2. We are asking for these solutions to come quickly,” Schram says. Norwegian is willing to take “all measures necessary” to reduce its losses, he continues, “no matter how painful they are.” Market turmoil means that Norwegian is unable to turn to investors to raise equity or issue debt in order to secure new liquidity. <br/>