newstodate.aero

Jan 30, 2023 (newstodate): The Norwegian LCC Flyr is fighting a desperate battle for survival as a planned refinancing has been called off.
   According to a release on the Oslo Stock Exchange, the financing plan was dependent on a rights issue to raise up to NOK 330 million - but eventually the share price did not warrant this maneuver and had to be called off, leaving the airline in dire financial needs.
   On December 23, 2022, the commercial terms of a wet lease agreement from the end of March to the end of October 2023 for six Boeing 737-800 aircraft - half of the fleet -  with a European airline was agreed in principle, but due to the uncertainty of the November Financing Plan, signing of the agreement was made conditional on the Company securing further financing.
   And this has now failed.
   -The Company and the Board will continue its efforts to explore solutions for the Company, including exploring whether there are feasible alternatives to secure continued operations, and will revert  with further information as and when appropriate.  
   -There is, however, no guarantee that a solution that would create a meaningful shareholder value for the current shareholders will be found, the stock exchange release reads.