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The flag carrier Norwegian Air (NWC.OL) has guaranteed essential funding from investors on Thursday. The company is fighting for its survival after the decline of travelers hit a 98.7% volume amid the virus outbreak.
More than 95% of its shareholders voted in favor of the conversion of nearly $1 billion debt-for-equity swaps in Oslo on Monday.
Sales of Norwegian new shares raised 400 Million Crowns after it was sold at 1 Crown each.
On Thursday, Norwegian Air shares fell by 2.7% at 4.05 Crowns 0728 GMT in Oslo.
“Norwegian continued to operate a limited number of domestic flights within Norway on behalf of the government to ensure that vital connectivity was maintained between regions,” the airline said in a statement.
The airline resumed flight operations in Oslo, Stockholm, and Copenhagen last month.
“All other network activity was temporarily suspended and is therefore reflected in the sharp decline in traffic figures this month,” Norwegian Air stated.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
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