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Markets News

Norwegian Air's loss balloons, warns of further cash needs

OSLO, Aug 28 (Reuters) - Norwegian Air still needs more cash in order to weather the COVID-19 pandemic, it said on Friday as it reported a deep loss for the first half of 2020.

With most of its fleet still grounded, Norwegian Air posted a January-June net loss of 5.4 billion Norwegian crowns ($610 million), compared with a loss of 1.4 billion crowns in the year-ago period.

“Norwegian is facing challenging times ahead,” the budget airline said in a statement. ($1 = 8.8593 Norwegian crowns) (Reporting by Terje Solsvik and Victoria Klesty; Editing by Kim Coghill)

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