May 26, 2021
OSLO: Norwegian Air emerged from six months of bankruptcy protection on Wednesday with a smaller fleet and its debt almost wiped out but also facing stronger competition and lingering uncertainty wrought by the pandemic.
The airline said on Friday it had raised 6 billion Norwegian crowns ($721 million) in fresh capital, as planned, more than enough to meet the minimum requirement set by bankruptcy courts in Dublin and Oslo.
“We have saved an airline that is of huge value to Norway and which binds our long country together,” Chief Executive Jacob Schram told a news conference.
“We’re back!” read a large banner outside the company’s headquarters to mark the occasion, while Schram hoisted a flag with Norwegian Air’s red, white and blue logo.
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