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OSLO, Nov 5 (Reuters) - Norwegian Air is planning a
share issue and a $175 million bond, it said on Tuesday, adding
that the deals would raise enough cash to meet the struggling
budget airline's needs through 2020 and beyond.
With mounting debts and suffering from the grounding of its
18 Boeing 737 MAX aircraft, Norwegian has this year
replaced breakneck expansion with cost cutting in a bid to
regain profitability.
"After the completion of the transactions, Norwegian is
fully funded through 2020 and beyond based on the current
business plan," it said in a statement after trading on the Oslo
Bourse was closed. Its shares closed at 46.06 crowns ($5.01).
($1 = 9.1882 Norwegian crowns)
(Reporting by Terje Solsvik and Gwladys Fouche; Editing by
Edmund Blair)
