Maxpeck, thanks. Which source is that? I prefer to read it myself than a screenshot.
What the Norwegian state has offered is a loan guarantee, provided that NAS came live up to some pretty tough conditions including 8% equity which they are nowhere near meeting. Only a
PR manager working for NAS could come up with the ludicrous notion that NAS is "in a perfect position to sort out its debt." It is the absolutely last arrow of desperation, for what they are asking to convert massive debt to shares of an imaginary value in the hope that the creditors want a lottery ticket instead of the assests that the loans are secured against. As you can see right here:
https://finansavisen.no/nyheter/luft...tatt-pa-sengen the creditors did not even know about this notion. If it was that simple, I wonder why any company would ever go bankrupt if they can just hand over shares to their creditors to make the debt magically disappear?
Should this debt to equity swap work against all odds and sense, you will still end up wiping basically all current shareholders out to nothing:
https://finansavisen.no/nyheter/luft...r-redningsplan
Norwegian is not a national carrier. It is and has always been a private company. The strategy now is a variant of the "privatize the profits, but socialize the losses." An argument used is that Norwegian in lieu of its name advertises Norway around the world. Pretty desperate argumentation. If you want connectivity in Norway due to the geography, Widerĝe is much better suited for that. Flying Norwegians to the sun can be achieved by any airline.