Norwegian Air Shuttle ASA has launched a fully underwritten rights issue of NOK 3 billion to strengthen its balance sheet. The airline stated officially that the rights issuance was in order to “increase its financial flexibility and create headroom to the covenants of its outstanding bonds compared with the Company’s business plan”. In the same announcement, the airline also shared its renewed focus on profitability and away from growth. To do that, the company says that it intends to reduce its capital expenditure by divesting aircraft, which would include postponing some deliveries, as well as improving operations to reduce costs

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