newstodate.aero

Mar 24, 2020 (newstodate): Norwegian can now draw at least a sigh of relief having met the first requirements for securing Norwegian state aid.
   Norwegian has today announced 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 thus secure the necessary headroom to pursue further guarantees from the Norwegian Government.
   On March 19, 2020, the Norwegian Government proposed a guarantee of NOK six billion for the Norwegian airline industry, of which up to three 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.
   Norwegian has thus cleared the road for the first tranche, now turning to working on meeting the requirements for the remaining two tranches.
   Norwegian has grounded most of its aircraft fleet, basically operating only Norwegian domestic and some regional flights in addition to repatriation flights.