Norwegian has admitted the state aid it is pursuing from the Norwegian government may not be sufficient to support it through the coronavirus crisis, and has warned it could run out of cash within a month.
The budget carrier is currently seeking to restructure its debt to raise enough cash to unlock the maximum NOK 3 billion (£230 million) that has been available by the Norwegian state.
However, ahead of an extraordinary general meeting fixed for 4 May, where the carrier will seek permission from stakeholders to convert sufficient debt to equity to meet the requirements of the Norwegian government, Norwegian has warned anew of the very immediate challenges it faces.
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