OSLO: The share price of Norwegian Air fell by 60% on Tuesday, the first day of trading following the company’s proposal of a financial rescue package on April 8.
If approved by creditors and shareholders, the plan would convert US$4.3 bil (RM18.6 bil) of debt into equity, and also raise some new equity, wiping out much of the remaining value of the company’s current shares. – April 14, 2020, Reuters
