The Norwegian state converts a loan given to the airline Norwegian into shares and thus becomes a partner in the company.

The Norwegian state gave a loan to the airline during the pandemic and instead of now repaying the entire loan, Norwegian is giving the state an ownership stake, writes NRK.

"We are very pleased with this transaction, which is a very good deal for Norwegian. We are also very pleased with the cooperation with the state over time," says the airline's CFO Hans-Jørgen Wibstad to NRK.

The state will own 6.4 percent of the shares in Norwegian after the transaction.

”"A possible divestment of the state's remaining ownership in the company will be considered based on developments in the company and in the market," the state writes in a press release.

The largest owner of the airline is shipping magnate John Fredriksen, who controls 14.5 percent of the shares, according to Holdings.

Source: DI.SE