The Norwegian government will not provide additional financial support for pandemic-hit Norwegian Air the Industry Ministry and the Ministry of Transportation said on Monday, leaving the cash-strapped carrier in a precarious situation. A pioneer in low-fare transatlantic air travel, Norwegian Air’s rapid expansion left it with debt of close to $8 billion by mid-2020, making it vulnerable to the fallout from the COVID-19 pandemic. “That the government has decided to reject the request for funds is disappointing and feels like a punch in the gut for everyone at Norwegian,” Chief Executive Jacob Schram said. …read more
Source:: Yahoo Finance
