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Old 12th Mar 2021, 11:50
  #1173 (permalink)  
Kirks gusset
 
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Kjos certainly has the right connections and his family have just dumped shares one Bank Norwegian after they climbed on rumours Nordax would buy the bank, so they are cash rich at this time. It depends if Kjos just sees Norwegian as an investment opportunity or a long term relationship. Either way, burnt suppliers, including CAE, Euro Control and even Facebook will be reluctant to do business without prepayment and injected cash must be sufficient to settle old debts and pave the way forward.

The other issue is the "new proposal" is almost identical to the "old proposal" with unsecured creditors taking a 95% hit on their debts and waiting up to 3 years to get settled. It may well be some object on the basis there may be nothing left in 3 years anyway and with inflation the 95% hit is already over 100% in real terms. It is by no means certain, although probable that the court will approve the planned restructure of debts.
In any event, crews in UK and Spain will be left out in the cold for the remainder of 2021.
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