MELDING: Norwegian fulfils criteria for initial NOK 300 million


Reference is made to the press release by the Norwegian Government on 19 March
2020 regarding the financial measures to support the Norwegian airline industry
and the subsequent stock exchange notice from Norwegian Air Shuttle ASA (the
"Company" or "Norwegian").

Norwegian is pleased to announce that two Nordic banks have obtained credit
committee approval to provide a guarantee for the required 10 percent for the
first tranche of NOK 300 million. Norwegian will secure the necessary headroom
to pursue further guarantees from the Norwegian Government.


Government measures

On Thursday 19 March, the Norwegian Government proposed a guarantee of NOK 6
billion for the Norwegian airline industry, of which up to NOK 3 billion is
directed to Norwegian. The guarantee will be up to 90 percent from the Norwegian
Government provided that financial institutions contribute with the remaining 10
percent. The guarantee scheme will consist of three tranches with a maximum two
years maturity.

Since Thursday evening Norwegian has worked with banks and financial
institutions and is pleased to announce that two Nordic banks have obtained
credit committee approval to contribute with the 10 percent required in
guarantee for Tranche I and to provide the NOK 300 million in financing backed
by the guarantee from the Norwegian Government. The Company is working with the
banks and the Norwegian Export Credit Guarantee Agency ("GIEK"), who will
administrate the guarantee scheme, on the documentation in order to obtain the
NOK 300 million in liquidity as soon as possible.

The Company is now working with GIEK and the Ministry of Trade, Industry and
Fisheries to clarify the criteria and terms related to the remaining tranches
under the scheme and to obtain further guarantees from financial institutions in
order to back such remaining tranches. Norwegian will update the market with its
further plan of action and implications for its stakeholders as soon as the
criteria and terms have been finalized. The Government guarantee scheme is
crucial for the Company as the current state of the capital markets in
combination with the challenging times for the airline industry limit the
options available. The first NOK 300 million will create necessary headroom to
pursue the remaining tranches of the guarantee scheme.


Operational update

Currently, most of the fleet is grounded and the Company has reduced its
operations to a minimum. The Company will now primarily operate domestically in
Norway and Sweden and between the Nordic capitals, in order to deliver on its
corporate responsibility of maintaining critical infrastructure so that people
and necessary goods and medical supplies can be transported during this
unprecedented crisis. The limited schedule will remain in place until further
notice. In addition, Norwegian has conducted repatriation flights together with
the authorities in order to get citizens of Norway, Denmark and Sweden back
home.

In order to reduce cost, Norwegian has temporarily laid off approximately 90
percent of its workforce and will continue to implement additional cost measures
going forward.



Fornebu, 24 March 2020
Norwegian Air Shuttle ASA

Ikke noe som helst volum i salg nå!
Kursen holder seg av en grunn!
Mulig abrahamsen kjøper seg inn igjen med 30 millioner kroner snart etter dette!
Redigert 24.03.2020 kl 11:47 Du må logge inn for å svare
FAR100
24.03.2020 kl 11:48 280

nå selger der store bl.a. kjos og andre. klar for en ny emisjon på 1-5?

Volumvektet snittpris (VWAP)
9,617
Omsetning (NOK)
80 430 868

Ingen som tror på det etter meldingen i dag.
Da hadde kursen stupt! Markedet har talt!