COPENHAGEN, Denmark (AP) Norways government said Friday it will give low-cost carrier Norwegian Air Shuttle a 1.5 billion kroner ($173 million) loan as long as the ailing company manages to raise at least 4.5 billion kroner ($520 million) from other investors.
The government had put several conditions for participating in the Norwegian airlines restructuring, including that the Oslo-based company must get new capital from private investors.
The state has no ambitions to become an owner of Norwegian, stressed Trade Minister Iselin Nyboe. A formal proposal for the loan was presented Friday to Parliament.
Earlier this month, the airline said it will end its long-haul operations and instead focus on European destinations as it str…
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