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Business

Norwegian Air seeks to postpone bond repayments

OSLO: Budget airline Norwegian Air  is asking bondholders to extend the maturity of its debt by two years, and will in r

Sep 02 2019

OSLO: Budget airline Norwegian Air  is asking bondholders to extend the maturity of its debt by two years, and will in return pledge valuable take-off and landing slots at London Gatwick Airport as a security, it said in Monday.

While the indebted carrier's operational performance has improved since mid-July, the company's working capital has decreased this year amid ongoing engine problems and the grounding of its fleet of Boeing MAX aircraft, it added.

Copyright Reuters, 2019