Norwegian Air State Aid Falls Short as Bonds Hit Record Low
- Shares give back gains as debt falls on bankruptcy risk
- Carrier gets only 10% of aid package until lenders pitch in
Norwegian Air was already saddled with debt when the coronavirus hit, and restrictions on international travel devastated its business ferrying people around Europe and across the Atlantic on low-cost flights.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
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Norwegian Air Shuttle ASA secured government funding worth up to $270 million under certain conditions, keeping it alive for now while the coronavirus still threatens to knock out the struggling discount carrier.