The Norwegian Air low cost airlines company share price dropped by 30% at opening and is now still more than 10% lower. Investors punish the airline company for the announcement of a substantial share issue.
Hard landing for Norwegian
Norwegian Air was forced to make an announcement so after British Airways told IAG holding that it is no longer interested in a takeover. As a result, the Norwegian Airline was threatened to cease the agreements with banks. It is an issue of 3 billion krone, almost half the current stock market value, which analysts estimate as 2.4 billion krone.
Norwegian Air sharply cuts spending back to halt the losses and hopes that another airline will take further action.