This disclosure is made pursuant to section 4-3 of the Norwegian Securities Trading Act. Prior to completion of the conversion, neither BOC Aviation nor any of its controlling companies (identified below) held any shares or votes in the Company. Upon completion of the conversion, BOC Aviation will hold 389,053,742 shares in NAS, representing 12.67% of the outstanding shares and votes in the Company. NORWEGIAN AIR SHUTTLE ASA – DISCLOSURE OF LARGE SHAREHOLDINGīOC Aviation Limited (“BOC Aviation”) has entered into an agreement to convert lease obligations to 389,053,742 shares in Norwegian Air Shuttle ASA (“NAS” or the “Company”) in connection with the share capital increase resolved by the general meeting of NAS on. Here’s the release from the Chinese owned entity: This will ensure sustainable operations and a structure that will be to the benefit of both shareholders, customers and colleagues,” says Schram. “In addition to securing that the company survives this crisis, our goal has been that Norwegian should have a strong position in the future airline industry, with a clear direction and strategy. The Company has seized this time as an opportunity to restructure and develop a new strategy and business plan – New Norwegian – for a strengthened airline to re-emerge when travel restrictions are lifted and demand returns. Instead, the coronavirus outbreak and global travel restrictions has led to a substantial drop in demand. The company was on the path to deliver a positive net profit in 2020, and this summer was set to be the strongest in the company’s history. Since the end of 2018, Norwegian has taken significant actions to restructure its operations and return to profitability. Norwegian will still need to collaborate closely with a number of creditors as the company currently has limited revenues,” said CEO Jacob Schram. Nevertheless, the months ahead will remain challenging and with a high degree of uncertainty for the industry.
Through this process, the belief in New Norwegian and the company’s strategy have been confirmed by shareholders, the market, bondholders, leasing companies, other creditors and lenders. Now that we can access the state loan guarantee, we can continue to transform the company. “I want to thank everyone who has supported the company during this unprecedented crisis that has affected the entire the airline industry: The Government and Parliament customers employees: shareholders leasing companies creditors bondholders, the travel industry and other Norwegian supporters. The company has now converted NOK 12.7 billion of debt to equity and laid a solid foundation for the future, although the next months will remain challenging. Norwegian confirms that the restructuring is completed and that the state loan guarantee of in total NOK 3 billion has been approved. ADVERTISEMENT Here’s the statement that the airline issued: Up To $600 Off Top Destinations With Ultimate Air Shuttle Flight DealsĪirlinesPromoCodes makes easy to search promo codes for all types United States Domestic and International airlines.Check out on one-way/multi-city/round trip offers from popular destinations like New York, Newark, LaGuardia, Chicago, Los Angeles, San Francisco, Denver, Houston, and Washington, D.C. With our 2020 listed hottest deals, exclusive discount on group booking and conditional fares you can make savings of up to 70% onUltimate Air Shuttle flight tickets. Ultimate Air Shuttle Promo Codes For 2020 Our negotiated pricing makes it possible for us to pass on the benefits directly to our customers. We negotiate fares directly with prominent travel brokers, consolidators, and airlines to post unpublished fares that are not out in the open market. has decades of experience in bringing to you the best cut-price deals and rock bottom flight coupons prices for all the top airlines on a single platform. Subscribe to our email and lookout for the Limited Period Offers and intermittent flash sales. Look out for Ultimate Air Shuttle discount vouchers 2020 on top seasonal routes, apply our super-saver coupons on Ultimate Air Shuttle most flown destinations and make amazing savings. From some countries, price is much less as from Europe Ultimate Air Shuttle Exclusive Unpublished Discount Rates 2020
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