Norwegian Air’s shareholders began a pivotal meeting on Monday to vote on a plan to convert debt into equity and raise more cash that could determine whether the budget carrier survives the coronavirus pandemic. The airline has won “strong support” from aircraft lessors for its plan, it said ahead of the online meeting, which is scheduled to last until 0830 GMT. With 95% of its fleet grounded amid the COVID-19 outbreak, Norwegian Air could run out of cash by mid-May unless shareholders back the plan. …read more
Source:: Yahoo Finance
