IAG acquires 4.61% stake in Norwegian
Jan 29, 2019, 4:42 am
#286
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In early trading on Tuesday, the company's shares plunged by 16%
IAG must be nursing a painful loss on their shares.
Jan 29, 2019, 4:43 am
#287
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Jan 29, 2019, 4:44 am
#288
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Raising 3 billion Kr, seems fairly small compared to the 2018 expected operating loss of 3.8 to which interest expenses to the tune of 1 billion will be added. It is a very short term expedient.
Jan 29, 2019, 4:57 am
#289
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Jan 29, 2019, 5:47 am
#290
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They're hoping to do so. Note that no bank is underwriting the issue, so it's looking a lot like a last-ditch effort by Kjos, the Norwegian Chairman, and some private equity - a Norwegian billionaire in tax exile. Those three could be left putting in a lot of the money.
Jan 29, 2019, 10:53 am
#291
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The remaining NOK 2,390 million of the rights issue is underwritten by DNB Markets, a part of DNB Bank ASA (“DNB Markets”), Sterna Finance Ltd., a company indirectly controlled by trusts established by Mr. John Fredriksen for the benefit of his immediate family, and Danske Bank, Norwegian Branch (“Danske Bank”).
Jan 29, 2019, 11:59 am
#293
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Is that a fair description? I see that the press release says:- .... Even if DNB Markets doesn't count as a "bank", wouldn't Danske count?
Jul 11, 2019, 6:26 am
#295
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See that Kjos has stepped down https://www.bbc.co.uk/news/business-48947853
BBC speculating that his succesor may be more willing to make a deal....
BBC speculating that his succesor may be more willing to make a deal....
Sep 3, 2019, 12:37 pm
#296
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Norwegan puts Gatwick slots on offer
The Times has a report to day indicating that Norwegan was attempting to sell off its slots at LGW , sems like it is trying to extend the maturity dates on two bonds , by offering as security a vehicle that will hold the landing slots at Gatwick. " Which has an independent value ...in exess of the current nominal bond value " , the report goes on to state " " Norwegan is blaiming its latest problems on a 140 million working capital crunch because of the Boeing issue as well as a £360 million hold -up from fare payments held with credit card companies"
Sep 4, 2019, 2:37 am
#297
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The Times has a report to day indicating that Norwegan was attempting to sell off its slots at LGW , sems like it is trying to extend the maturity dates on two bonds , by offering as security a vehicle that will hold the landing slots at Gatwick. " Which has an independent value ...in exess of the current nominal bond value " , the report goes on to state " " Norwegan is blaiming its latest problems on a 140 million working capital crunch because of the Boeing issue as well as a £360 million hold -up from fare payments held with credit card companies"
Sep 4, 2019, 2:40 am
#298
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You know that bit at the end of Monopoly where you're being hammered by someone who got hotels on Mayfair and the Old Kent Road and you have to turn your colour group cards over and mortgage them for half their book value because you're otherwise completely out of the game?
That's where Norwegian are.
That's where Norwegian are.
Sep 4, 2019, 3:07 am
#300
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Norwegian - the airline bankrupted by their aircraft supplier screwing up ......