Norway plans Norwegian Air loan in extra pandemic spending plan

Norway proposed 16.3b crowns in extra fiscal spending this year to help businesses, including Norwegian Air, and municipalities weather the COVID-19 crisis. The package includes 1.5b crowns for a hybrid loan to the struggling airline, which is undergoing a restructuring, provided terms are agreed and pending parliament’s approval. Norways’s government said last week it would back Norwegian, which aims to emerge from court-ordered bankruptcy protection as a slimmed-down carrier focused primarily on the Nordic region.<br/>