Norwegian seeks capital with losses set to widen 

Norwegian Air Shuttle is raising fresh capital, selling off some aircraft and putting its frequent flyer scheme up for sale as the airline ‘tries to shore up its finances’. 

Norwegian also announced deepening estimated losses for the first quarter despite rapidly increasing revenues. The carrier announced yesterday that it will raise NKr1.3bn through a private placement.

It is rumoured Norwegian will sell five Airbus 320neo aircraft that will lead to an estimated gain of $15m-$20m, while it has also started a strategic review of its Reward programme that will look at ‘its incorporation and possibly ownership’.  

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