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Norwegian Air: target to receive 353 million dollars from the shares

The search for an industrial partner for the carrier continues

In a conference call with journalists Norwegian Air Chief Executive Officer Bjoern Kjos announced plans to raise approximately $ 353 million at the end of the sale of shares in the stock market, in an attempt to strengthen the airline's finances hit by the announcement of the IAG Group to sell its stake. The choice of the Anglo-Iberian holding has brought down Norwegian Equity's share price by about 30%, but this would not be a problem for Kjos who said he was confident for 2019 "even though there may be seasonal variations". The risk of a failure in the short to medium term seems to be averted, partly because it was written by the analysts of Bernstein "Norwegian Air has enough room to maneuver to keep the operation".

The revitalization plan is still under study and also foresees the need to find an industrial partner with whom to share the ownership of aircraft in an attempt to reduce expenses; but -as confirmed by the CEO- after the outing of Iag still there are no potentials interested in buying Norwegian Air.

M/A - 1218295

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