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Norwegian Air exits restructuring process

OSLO, May 26 (Reuters) - Norwegian Air emerged from six months of bankruptcy protection on Wednesday with a smaller fleet and its debt almost wiped out, the budget carrier said, but also facing stronger competition and a lingering uncertainty wrought by the pandemic.

The budget airline said on Friday it had raised 6 billion Norwegian crowns ($721 million) in fresh capital, as planned, more than enough to meet the minimum requirement set by bankruptcy courts in Dublin and Oslo. ($1 = 8.3167 Norwegian crowns) (Reporting by Victoria Klesty, editing by Terje Solsvik)

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