Norwegian Air Shuttle is a pioneer low-cost airline company with 5.5Bil usd debt!
Just 6 of the 140 aircraft i are still flying.
600 employees from 11000 are still at work.
Norwegian presented a rescue plan that included slashing its fleet, debt conversion and a rights issue of up to four billion kroner ($453 million). So dilution.
An Irish court on Monday allowed Norwegian to put itself and several Irish subsidiaries under "examinership", the equivalent of the US procedure known as Chapter 11. (ibtimes.com)
After reaching the all time low at 0.3 Kro , now the indicators are quite , but this a very risky trade.
Bid 0.4048 x 6100
Ask 0.4080 x 128200
Yesterday`s Volume: 561,859,710
Avg . Volume: 88,419,571
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