(Bloomberg) — Norwegian Air Shuttle ASA is fighting for survival, with a last-ditch plan to convert debt to equity driving its share price down as much as 63% during the first frantic moments of trading on Tuesday.Norwegian Air’s proposal will dilute shareholders already counting their losses after Covid-19 ruined the company’s efforts to return to profitability. The plan calls for creditors, including aircraft lessors and suppliers, to convert as much as 44.5 billion kroner ($4.3 billion) in debt in order to meet government terms for the carrier to access a state aid package, and for a private placement.In the first …read more
Source:: Yahoo Finance
