Norwegian Air’s proposed financial rescue plan could leave current shareholders with a combined ownership stake of just 5.2%, details of its proposed debt-to-equity swap showed on Monday. If approved by bondholders, leasing companies and shareholders, the plan could help Norwegian survive the coronavirus outbreak, which has grounded 95% of its fleet, with just 7 aircraft left in operation. The plan requires backing from bondholders in each one of four separate votes planned for April 30, as well as from leasing firms, and from shareholders in an extraordinary general meeting scheduled for May 4. …read more
Source:: Yahoo Finance
