(Adds share, quote, detail)
OSLO, Sept 16 (Reuters) - Norwegian Air's
bondholders have accepted the company's plea to postpone
repayment of $380 million by up to two years, the carrier said
on Monday, providing the loss-making airline some financial
relief.
In return, Norwegian has promised to pay a premium on the
bonds while also pledging lucrative take-off and landing slots
at London's Gatwick Airport as security.
"We're pleased with the bondholders' decision to amend the
bonds as it will give us added financial headroom going
forward," acting CEO Geir Karlsen said in a statement.
Norwegian Air remains on track to cut costs by 2 billion
Norwegian crowns ($223 million) in 2019, he added.
To alter the terms, two-thirds of bondholders at a meeting
in Oslo had to back the proposal. In the end, 89.8% of owners of
the NAS07 bond gave their consent, while support for the NAS08
bond stood at 99.64%.
Norwegian Air had said on Sept. 11 that preliminary
indications showed that enough bondholders would accept the
measures.
($1 = 8.9752 Norwegian crowns)
(Reporting by Terje Solsvik, editing by Gwladys Fouche)