Airlines
Shareholders Approve Norwegian Air Rescue Plan
A near $1 billion private placement unlocks more government aid for Norwegian Air Shuttle.
Norwegian Air Shuttle has managed to arrange for a financial lifeline through a near $1 billion private placement to lessors and bondholders. (Photo: Norwegian)
Norwegian Air Shuttle has managed to arrange for a financial lifeline through a near $1 billion private placement to lessors and bondholders. (Photo: Norwegian)

Norwegian Air Shuttle will proceed with private placements through the conversion of some 10 billion Norwegian kroner ($966 million) worth of bonds and lease debt to shares and carry out a public offering valued at up to 400 million kroner, the company said in a filing with the Oslo Stock Exchange. More than 95 percent of votes taken at an Extraordinary General Meeting (EGM) on Monday went in favor of the proposed private placements.