Norwegian Air's Reconstruction Plan Now Legally Binding
Norwegian Air's court-ordered debt reconstruction plan is now legally binding, and the airline expects to complete its financial rescue as planned on May 26, it said on Tuesday May 18.
No Appeals Filed Against The Scheme
No creditors have filed appeals against the scheme, which was overseen by courts in Norway and Ireland, and the plan is now final and binding, Norwegian Air said in a statement.
In order to complete the rescue on time, the carrier must raise new capital in an ongoing fundraising.