The BBC are reporting that Norwegian are seeking an investment of £268m to shore up their finances. This is off the back of an operating loss of roughly £300m last year. Shares have dropped 16% on the news. Steve
Yep, the Rights Issue appears to be fully underwritten, so they should be fine in terms of cash for the immediate future. Obviously, the reforms need to actually work though if Norwegian are to be around in the years ahead.
In a statement on Tuesday, the airline’s CEO, Bjørn Kjos, echoed the fact that Norwegian is shifting away from growth and toward cutting costs.
