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NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS NOT A PROSPECTUS AND DOES NOT CONSTITUTE AN OFFER TO SUBSCRIBE OR PURCHASE ANY OF THE SECURITIES DESCRIBED HEREIN. NO ONE SHOULD PURCHASE ANY SECURITIES IN NORWEGIAN AIR SHUTTLE ASA (THE "COMPANY") EXCEPT ON THE
Norwegian’s traffic figures for April are impacted by government travel restrictions and therefore low demand.
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.Reference is made to the stock exchange announcements of Norwegian Air Shuttle ASA (the “Company” or “NAS”) dated 26 March 2021 and 12 April 20
Norwegian has today updated the market on the forthcoming capital raise. The upper limit for raising capital has been increased to NOK 6 billion. The debt will be sharply reduced and in addition aircraft orders amounting to NOK 85 billion have been cancelled.
The Oslo County Court, today approved Norwegian's reconstruction plan in Norway. Reaching this milestone means that both the group's reconstruction processes in Ireland and Norway have now been approved by the courts. The company will now prepare the process of raising new capital.
Norwegian’s traffic figures for March are impacted by weak demand as a result of international government travel restrictions across our key markets.
Norwegian’s reconstruction process in Ireland, called the Examinership, was today approved by the judge in the Irish High Court. Based on this decision, Norwegian will now send the same proposal for voting in Norway. Following this, the company will start the process of raising capital with the goal of a final resolution by the end of May.
Adrian Dunne will join Norwegian as the company’s new EVP Operations. Dunne has more than thirty years of experience as a leader within the aviation industry.
Today, Norwegian’s financial reconstruction plan was sent to its creditors and shareholders. If the plan is approved by the Irish and Norwegian courts in the coming weeks, the company can continue the reconstruction processes and initiate a capital raise in April, targeting completion in May 2021.
Norwegian’s traffic figures for February are strongly influenced by lower demand caused by continued travel restrictions across Europe.
Norwegian today reported its fourth quarter results. As expected, the results were heavily impacted by COVID-19 and travel restrictions in all markets.
The Company is working with the Examiner and the Reconstructor with a view to commencing the legal steps required to implement the proposed Restructuring, including the issuance of a scheme of arrangement by the Examiner as soon as possible, with a view to the Capital Raise commencing in late March/early April, with the subscription period in mid-April and target closing end of April.
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