May 1, 2020 / 3:19 PM / a month ago

Norwegian Air bondholders reject debt conversion plan, but talks continue

OSLO, May 1 (Reuters) - Some of Norwegian Air's bondholders have rejected a proposed debt-to-equity swap, the airline said on Friday, casting doubt on the plan seen as vital to help the indebted carrier survive the COVID-19 pandemic.

"Our dialogue with the bondholders continues with the clear goal of reaching a solution. Unfortunately, we were not able to reach an agreement within the deadline," CEO Jacob Schram said in a statement.

"However, the discussion is continuing through the weekend to find a solution." (Reporting by Gwladys Fouche, editing by Terje Solsvik)

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