Norwegian Air Shuttle taps investors again
Norwegian Air Shuttle, the budget airline, has gone back to shareholders for fresh capital for the second time this year, to fund itself into 2020 and beyond, while it tries to shift from a period of aggressive growth to a focus on profitability.
Norwegian, the largest low cost airline in Europe after Ryanair and EasyJet, issued 27.25m shares for Nkr1.09bn ($119m) in an accelerated bookbuild on Tuesday night and simultaneously issued a $150m five year convertible bond.DNB Markets, Pareto Securities and Arctic Securities were bookrunners on the share sale. Clarksons ...
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