Airlines Inch Toward Securing Aid Needed for Lengthy Slowdown
- Lufthansa CEO tells employees a rescue deal is coming ‘soon’
- Norwegian bondholders back debt-to-equity restructuring plan
This article is for subscribers only.
Airlines made progress toward bolstering their finances over the weekend, with Deutsche Lufthansa AG nearing a deal for state aid and Norwegian Air Shuttle ASA winning bondholders over to a debt-to-equity swap.
Lufthansa expects to finalize talks with the German government on an aid package “soon,” the company said in a letter to employees seen by Bloomberg. The governments of Germany, Switzerland, Austria and Belgium have together been looking at a rescue plan that could top 10 billion euros ($11 billion) in total.