March 24, 2020 / 7:13 AM / 2 months ago

Norwegian Air secures NOK 300 mln cash infusion from state rescue package

OSLO, March 24 (Reuters) - Norwegian Air has fulfilled the first condition for taking part in a government-led rescue package for the airlines industry, securing an initial cash infusion of 300 million Norwegian crowns ($26.63 million), the budget carrier said.

Norway said on March 19 Norwegian Air could obtain credit guarantees worth up to 3 billion crowns to help weather the coronavirus crisis, but the airline must first meet a series of conditions.

$1 = 11.2656 Norwegian crowns Reporting by Terje Solsvik; Editing by Andrew Heavens

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