Norwegian Air sees $840mn in cash after planned capital raise

OSLO: Budget carrier Norwegian Air expects to have a cash holding of 7 billion Norwegian crowns ($842.6 million) if it manages to raise the full amount of capital it seeks this month, it said on Monday.

The carrier aims to raise 6 billion crowns in fresh capital as part of a scheme to emerge on May 26 from court-ordered bankruptcy protection in Ireland and Norway.