Norwegian low-cost airline ‘has been saved’, says chief executive

(Norwegian Air Shuttle/PA)

Low-cost carrier Norwegian Air Shuttle has been saved, its chief executive said, adding it had “written history” after the ailing airline struggled with the fallout from the coronavirus pandemic and a debt restructuring plan.

Jacob Schram said Norwegian had “successfully” concluded a rescue plan after it raised 6 billion kroner (£508 million) through the sale of perpetual bonds, new shares and a rights issue.