Norwegian Air makes final restructuring offer to creditors – Reuters

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OSLO (Reuters) – Norwegian Air submitted its final restructuring offer to creditors on Thursday in what the budget airline said was a major step in its plan to slash debt and reduce its fleet to survive the coronavirus pandemic.

FILE PHOTO: Norwegian Air Sweden Boeing 737-800 plane SE-RRY approaches Riga International Airport in Riga, Latvia January 17, 2020. REUTERS/Ints Kalnins/File Photo

If approved by enough creditors and Ireland’s High Court, the so-called scheme of arrangement will enable Norwegian to raise new capital and emerge from bankruptcy protection in Ireland and Norway.

“This is an important milestone in the process

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