Norwegian: Coronavirus to continue having a significant impact on financial position/operations

    Norwegian stated (30-Aug-2021) the carrier is severely impacted by coronavirus and the imposed travel restrictions, with it having and expected to continue to have, a significant impact on the company’s financial condition and operations. The company’s ability to return to normal operations is dependent upon, amongst other things, coronavirus and the development on travel restrictions and the demand for air travels. The carrier mitigated coronavirus risk and uncertainty through cash burn minimisation, and the necessary additional working capital was obtained mainly through share offerings including the Rights Issue and additional private placement(s), raising gross proceeds of NOK6 billion (EUR584 million). [more – original PR]

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