Norwegian seeks additional money from buyers | Information

Norwegian Air has unveiled plans for a $175 million bond subject.

The struggling airline stated it hoped the transfer would increase sufficient money to satisfy it wants via 2020 and past.

With mounting money owed and affected by the grounding of its 18 Boeing 737 MAX plane, Norwegian has this 12 months changed speedy enlargement with value chopping in a bid to regain profitability.

Final month Norwegian bought a stake in its future fleet of plane to China Development Financial institution.

“After the completion of the transactions, Norwegian is absolutely funded via 2020 and past based mostly on the present marketing strategy,” the service stated in an announcement after buying and selling on the Oslo Bourse was closed.

Bjørn Kjos earlier this 12 months stepped down as chief govt of the airline after 17 years because it continued to lose cash.

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