October 25, 2018 / 12:50 PM / 19 days ago

Norwegian Air closing on deal for potential $1 billion cash infusion: Bloomberg

(Reuters) - Norwegian Air Shuttle ASA (NWC.OL) is closing in on a deal to provide a potential $1 billion cash infusion to help it navigate increasing fuel prices and the slow winter period, Bloomberg reported on Thursday, citing people familiar with the matter.

The company said it is in “advanced discussions” with an unnamed partner to create a fleet joint venture that would take over cash obligations on its large aircraft order book, according to the report.

The potential deal will include an initial 8 billion Norwegian krone injection to help the Oslo-based carrier cover for payments it has made for Boeing Co (BA.N) and Airbus SE (AIR.PA) aircraft, Bloomberg reported.

Norwegian Air declined to comment.

Reporting by Rishika Chatterjee in Bengaluru; Editing by Shounak Dasgupta

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