New Nordic Airline Begins $150 Million Placing in Bet on Rebound
The share sale will fund lease deposits on as many as 12 Boeing Co. 787 Dreamliner aircraft.
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Startup carrier Norse Atlantic Airways began a 1.28 billion-krone ($150 million) share placement to bankroll the launch of trans-Atlantic flights this year even as air travel remains mired in its worst-ever slump.
Shipping entrepreneur Bjorn Tore Larsen, Norse’s chief executive, will subscribe for stock worth the equivalent of $10 million, while $64 million has been allocated to six backers including Handelsbanken, DNB Asset Management and Nordea Investment Management, according to a filing Tuesday.