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The investors of flag carrier Norwegian Air (NWC.OL) backed its rescue plan with more than 95% of shareholders voted in favor of the conversion of nearly $1 billion debt-for-equity swap in Oslo on Monday.
However, pilots and flight attendants of Norwegian Air were furloughed after the company was severely affected by the pandemic. Airlines have sought government rescue packages to avoid bankruptcy after the global aviation industry was forced to ground its fleets.
On Sunday, Norwegian Air bondholders demanded more strategic discussions after they refused to accept the rescue plan on Thursday. According to the airline, Norwegians anticipate the final votes of creditors as “almost 100% a formality” on May 18.
“This has been perhaps the most exciting financial thriller Norway has ever seen,” Chief Executive Officer Jacob Schram said after the investor’s meeting on Monday.
SoftBank Group Corp. (9984.T) announced on Monday that it would sell up to 198 Million shares of the U.S. wireless carrier T-Mobile U.S. Inc. (TMUS.O) worth $21 billion. The telecom company revealed a series of transactions to seek funds for ...
On Tuesday, the Trump administration said that it is preparing a nearly $1 trillion infrastructure proposal for transportation plans as part of its push to spur the world’s largest economy back to life. A preliminary version prepared ...
The dollar fell on Tuesday following the U.S. Federal Reserve’s announcement to begin broad buying of corporate debt, lifting appetite for risk currencies. The Fed said that it will start buying diverse investment grade U.S. corporate ...
Australia is set to launch its fourth economic stimulus package aimed at providing eligible residents the opportunity to renovate their homes. The scheme was announced by Prime Minister Scott Morrison on Thursday as the country attempts ...
Chinese Internet service provider Tencent Holdings Ltd (0700.HK) said on Friday that it is discussing an investment worth $200 Million in the world's largest music company Warner Music Group (WMG) as part of its initial public offering ...
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