Norwegian Air will present a restructuring process when the bankruptcy protection case is raised in Irish courts in early February, and an issue is expected to take place in late February or early March, according to a presentation from the airline.
When the process in Ireland begins in early February, the company must enter a new legal process, work with lenders and secure investors, the company writes.
Furthermore, the Irish court is expected to make its decision in early March and the matter is expected to be added to the files by the end of March. In April, Norwegian expects to completely end the bankruptcy protection process.
Norwegian wants to raise between 4 and 5 billion Norwegian kroner in new capital, of which 400 million will come from existing shareholders, 2-4 billion Norwegian kroner from new shareholders through a new share issue and 1.5-2.5 billion from existing creditors via a hybrid bond.
