Norwegian Air Hits Record Market Value in Logic-Defying Rally

Norwegian Air Shuttle ASA is facing its worst crisis ever and just went through a big restructuring, but the airline’s market value has never been higher.

In a three-day rally, the stock has jumped more than 72%, closing at level that’s even higher than before the registration this week of billions of new shares handed to creditors. That means the low-cost carrier’s market value is now at a record 13.7 billion kroner ($1.4 billion).