Norwegian will convert debt into equity

by on April 13, 2020 0

The Norwegian Board of Directors will, through a number of measures, strengthen the company’s balance sheet and fulfill the Norwegian authorities’ terms in Trades Two and Three of the Government’s loan guarantee scheme.

The Board of Directors proposes that debt be converted to equity by entering into agreements with, among other things, bondholders, lenders, leasing...

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Airlines on the edge fear repayments

by on April 8, 2020 0

The airlines are at risk of losing everything after canceled flights and demands from millions of travelers to get money back, IATA says.

The International Aviation Authority reports on Tuesday that a number of companies will run out of funds if the flights continue to flatten out.

“The companies only have liquidity to carry on for...

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Lufthansa shuts down Germanwings

by on April 8, 2020 0

Lufthansa is closing down low-cost airline Germanwings to cut costs and survive the corona crisis.

– Germanwings flights will not continue. The consequences of this decision will be discussed with the unions, a statement from the company says.

Germanwings is wholly owned by Lufthansa, which also owns Eurowings, SWISS, Brussels Air and Austrian Airlines.

The company says...

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Advice from Swedens Ministry of Foreign Affairs

by on April 6, 2020 0

Do not travel – until the earliest this summer. The Ministry of Foreign Affairs is now extending its travel advice until June. “It is an incredibly difficult position for the airlines,” says Jan Ohlsson, an independent flight analyst.

Due to the corona pandemic, the Ministry of Foreign Affairs decided on Friday to extend its advice...

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