Norwegian Air has fulfilled the first condition to access a government-led rescue package for the airline industry and secured an initial cash infusion of 300 million Norwegian crowns ($26.6 million), the budget carrier said on Tuesday. Norway said on March 19 that Norwegian Air could obtain credit guarantees worth up to 3 billion crowns to help it to weather the coronavirus crisis but must first comply with a series of conditions. The condition for receiving the first 300 million crowns from the package was that commercial lenders were willing to supply 10% of that amount while the …read more
Source:: Yahoo Finance
