September 2, 2019 / 6:51 AM / 18 days ago

Norwegian Air seeks to postpone bond repayments

OSLO, Sept 2 (Reuters) - Budget airline Norwegian Air is asking bondholders to extend the maturity of its debt by two years, and will in return pledge valuable take-off and landing slots at London Gatwick Airport as a security, it said in Monday.

While the indebted carrier’s operational performance has improved since mid-July, the company’s working capital has decreased this year amid ongoing engine problems and the grounding of its fleet of Boeing MAX aircraft, it added. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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