Probably behind the drag curve, apologies, but yesterday's National Newspaper business section Headline was "Norwegian Air Saved after GBP221m bailout." Er, "saved" is explained as "The budget airline will now go into hibernation for a year, cutting staff,grounding or returning most of its fleet and only flying between Scandanavian countries". Cripes, is that "saving" ?
Only an airframe driver , I admit, but , all this swopping of debt for equity leaves me very cold. A bit like equity release on my house , I guess, a bit , eh ? But accountant yuck speak for a very grim outlook I venture to suggest.
Selling 400m new shares at 8p each. I Should have taken a punt with money I saved during lock-down...........but.................you know............?