Norwegian Air’s shareholders reportedly voted in favour of the company’s debt restructuring plan on Thursday. More than 99 per cent of shareholders supported the so-called scheme of arrangement, E24 reported, which will be voted on separately by several groups of creditors on Thursday and Friday. Norwegian shares were up 1.1 per cent in early trade, outperforming the Oslo benchmark index. If approved by enough creditors and the Irish High Court, the plan will enable Norwegian to raise new capital and emerge from bankruptcy protection in Ireland and Norway in May. Norwegian Air has called the scheme a milestone in the process of securing the airline’s future.

Source: The Irish Times March 18, 2021 10:08 UTC