In early November 2020, the government of Norway announced it would not provide further financial aid to the ailing airline after it had asked for a new billion-dollar rescue package from the state. At first, Norway’s government gave the ailing airline a helping hand in the form of granting $300 million of state aid along with the conversion of part of its existing debt and its financial commitments into new shares in May 2020. In a statement released on the day, the company explained it has raised $71.7 million (NOK 6,000 million) capital and implemented the Restructuring Proposal, thus concluding the restructuring.Īlready in great financial difficulties at the beginning of 2020, Norwegian was also hit hard by the coronavirus COVID-19 pandemic. On May 26, 2021, Norwegian Air Shuttle announced that it has successfully emerged from the Examinership and the Reconstruction.
