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

By Reuters Staff

1 Min Read

OSLO, May 3 (Reuters) – 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. ($1=8.3077 Norwegian crowns) (Reporting by Gwladys Fouche, editing by Terje Solsvik)

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