Norwegian Air gets $271 million state-backed loan after debt restructuring
Share:
OSLO (Reuters) - Budget airline Norwegian Air has secured a long-sought credit guarantee from Norway's government after completing a debt restructuring, it said on Wednesday, allowing it to survive in a slimmed-down version.Following the grounding of almost all its fleet due to the coronavirus pandemic, the company had said it would run out of cash in mid-May unless it was able to qualify for the 2.7 billion Norwegian crowns ($271 million) state package.The government in a separate statement..