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The bankruptcy protection application, which will be considered by an Irish court on December 7, has been filed since the Norwegian government closed the door to more direct support for Norwegian in addition to the three billion that were raised in May.
According to the government, Norwegian’s ownership structure is unclear and the owners are passive in the crisis, meaning they see the risk of more support money for foreign owners disappearing.
The airline has in early November He warned that the company’s cash will drain sometime during the first quarter of 2021 if it is not pushed for more support and now aims to rebuild its mountain of debt with bankruptcy protection.
The US leasing company Aercap Holding became the largest owner following Norwegian’s new share issue and debt conversion in May. Aercap held 13.4 percent of the shares after the transactions, but announced as recently as Wednesday that it had sold a large stake and now owns 9 percent of the shares.
Two other important newcomers That emerged after the transactions in May are the Chinese state-controlled leasing company BOC Aviation and MG Aviation, an Israeli company based in the British Virgin Islands. They own approximately 10 and 9 percent of Norwegian shares, respectively.
Starting Thursday, the Norwegian share price will cost just under 40 Norwegian öre. This can be compared to a price of around SEK 40 per share at the beginning of the year, before the covid-19 pandemic. And if you go back five years in time, the price of the same stock was well above 200 SEK.
There are many small Swedish savers that, with the spectacular development of the Norwegian airline, you have reason to hold your breath.
Despite the turmoil during the crown crisis, the Norwegian stock has quickly become one of the most popular foreign stocks among small Swedish savers. According to Nordnet, there are thousands of Swedish shareholders, more than is available from well-known large American companies like Apple or Tesla.
