Lessors agree debt-for-equity scheme just before emergency shareholder meeting begins
The embattled carrier Norwegian Air has won support from aircraft lessors for its rescue plan as it faces a crunch shareholder vote on the $1.2bn (£950m) plan to convert debt into equity at an emergency meeting on Monday.
Norwegian’s shareholder meeting got under way in Oslo on Monday morning, as the European Union’s competition watchdog approved French state aid worth €7bn (£6bn) for Air France. The Covid-19 pandemic has plunged the global aviation industry into its worst crisis, bringing air travel to a near-standstill.
Source: Norwegian Air wins support for rescue plan ahead of crunch vote
