Norwegian Air Lines

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.