One of Norwegians problem at the moment is that all the big and/or institutional investors have exited the share and they are left with all shareholders with just small stakes each. Normally that would leave the company management in control but there is building up a momentum among the shareholders organizing against being watered out to nothing and the company depends on a shareholder yes vote if the debt is to be converted to shares, in addition to the debt holders agreement.
The company is becoming uncontrollable. If a shareholder revolt is coming expect board changes to follow since the current board is sitting based on shareholders no longer invested in the company.
Some are also flouting that the state would take over the assets if the company did go bust, to keep up the competition in the Norway/Scandinavia market. Doubtfull. Its a long time since a european country started up an airline, which is what it in reality would be seen as.