Norwegian gets rights issue support despite headwinds

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By Aidan Gregory
12 Mar 2019

Norwegian Air Shuttle, the Norwegian airline, has priced its heavily discounted Nkr3bn (€308m) rights issue receiving a high take-up from shareholders, despite safety concerns over some of its fleet and heavy shorting of the stock.

The two for one rights issue, which was announced in January, is intended to strengthen Norwegian’s balance sheet following a series of large losses and an abandoned takeover attempt by IAG, the parent of British Airways.

Norwegian made a net loss of Nkr1.45bn in 2018 and was ...

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