The loss can be seen in light of the financing requirements - according to the site E24, the company's bond agreement requires that Norwegian NAS -0.23% must always have at least 1.5 billion Norwegian kroner in equity.

A directed new share issue of SEK 1.3 billion will ensure that the company does not fall below that level.

”"The net proceeds from the private placement will secure a significant buffer for the bond term," Norwegian wrote in a press release published after the Oslo Stock Exchange closed.

The loss before tax for the first quarter is expected to increase from minus 1.8 billion Norwegian kronor to minus 2.6 billion. Norwegian points to higher fuel prices and a stronger euro compared to the latest guidance. The company is now raising its forecast for unit costs, writes the news agency Direkt.

Source: di.se