Transportation • Air Transportation & Traffic, Flying

Norwegian Air nearer to a $1.2 billion debt-for-equity swap deal as bondholders support plan

Norwegian Air reached an agreement from enough bondholders to a $1.2 billion debt-for-equity swap.

The budget airline is poised to run out of cash by mid-May without approval for its plan, which involves handing over most of the company to its lessors and bondholders.

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Card reviewed by: @christoph