AerCap is selling 156 million Norwegian Shares

Norwegian Aksjer

writer icon Carsten Kristensen     Kit Suman   |   Business     🕐 18. Nov. 2020

The Norwegian is financially pressured like never before, and the government of Norway is refusing to provide more help to the airline. Now, less than ten days later AerCap is selling 156 million shares in the company.

AerCap has announced that they are working to sublet the aircraft Norwegian has leased. Now the leasing giant announces that they have also reduced their shareholding in the airline significantly in recent months.

Back in July 2020 the aircraft leasing company AerCap owned 487.9 million shares in the airline. Today AerCap owns 331 million shares in the airline, corresponding to nine percent of Norwegian's share capital.

In addition, Aercap has ownership in perpetual bonds that can be converted to 219.5 million shares.

Last week it was announced that the government would not provide further support to the Norwegian. The airline should allegedly have asked for four to five billion Norwegian kroner in support, but the request was denied.

When the government parties on Monday agreed on the latest crisis package, it became clear that the air passenger tax will lapse throughout 2021.

In addition, the amount set aside for the purchase of air routes will be increased to NOK 2 billion.

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