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  • Norwegian Air made drastic proposals on Thursday to try and survive the effects of the health crisis.

  • The airline put forward a package of debt conversion selling aircraft on the sale of new equity.

  • The carrier, based in Oslo, aims to raise up to four billion Norwegian crowns, or $455 million from the sale of new shares of hybrid instruments.

  • This year's massive fall in travel numbers has brought the company to the brink of collapse.

  • It recently applied for bankruptcy protection in Ireland with a hearing Jewett the Irish High Court on Monday.

  • Only six of Norwegian Ares 140 aircraft are currently in use, with the rest grounded.

  • That includes their entire fleet of Boeing 787 Dreamliners, which they used for transatlantic flights.

  • Last month, Norway's government rejected the airlines call for another injection of state funds.

  • A day after that, Norwegian said it was a risk of having to stop operations in early 2021 unless it could find more money.

  • The company's plan is to eventually leave.

  • The Irish court process is a viable carrier that has the potential to turn a profit.

Norwegian Air made drastic proposals on Thursday to try and survive the effects of the health crisis.

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Norwegian Air proposes overhaul in bid for survival

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    林宜悉 posted on 2020/12/04
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