Norwegian Air shares plummet as survival depends on rescue plan | Malay Mail

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OSLO, April 14 — The shares of Norwegian Air plummeted today, and have now eroded almost their entire value from a 2015 peak, as the airline’s survival depends on creditors accepting a rescue plan proposed last week. The shares slumped as much as 62.5 per cent as markets reopened after the...

A Norwegian Air Boeing 737-800 is seen during the presentation of Norwegian Air first low cost transatlantic flight service from Argentina at Ezeiza airport in Buenos Aires, Argentina, March 8, 2018. — Reuters pic

The shares later regained some ground to trade at 5.8 crowns by 0917 GMT, down 29 per cent on the day – a loss of 97 per cent from their all-time high in May 2015. In order for the company to stay in business, it must also convince bondholders to accept the proposed conversion of debt, Bernstein noted.

Source: Financial Digest (financialdigest.net)

 

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