Shipping tycoon chips in to stabilise Norwegian
Norwegian said on Tuesday that it had raised 3 billion kroner (€309m) in a rights issue underwritten by investors including shipping magnate John Fredriksen to avoid breaching financial covenants
Budget airline Norwegian has gained the backing of Norway’s richest man, providing some stability to the struggling carrier as it searches for a new suitor following Aer Lingus ownerIAG’s decision to abandon its eight-month pursuit.
The shares tumbled after Norwegian said on Tuesday that it had raised 3 billion kroner (€309m) in a rights issue underwritten by investors including shipping magnate John Fredriksen to avoid breaching financial covenants.
While the stock declined, the ...