NAS seeks lifeline

In a bid to generate cash, Norwegian Air Shuttle (NAS) requested extend the maturity dates of its two unsecured bonds in exchange of a security package backed by the take-off and landing slots at London Gatwick Airport. Norwegian’s Gatwick slot portfolio is valued in excess of the current nominal bond value for NAS07 and NAS08 of $380 million.  NAS has been seeking an extension for NAS07 and NAS08 to November 2021 and February 2022, respectively. The unsecured bondholders are being offered a security package consisting of a pledge over all shares in Norwegian Air Norway (NAN), which will hold the