Norse Atlantic announces “successful” end to $30m equity drive

Norse Atlantic Airways has closed a private placement that commenced on November 24, for the NOK equivalent of US$30 million. The successful equity raise was one and a half times oversubscribed, the airline said in a statement, with the high demand “clearly demonstrating a strong confidence” in the carrier’s “business strategy and model”. Chief executive Bjorn Tore Larsen said the raise would enable Norse Atlantic “to build on its already strong financial base”, which he claimed put Norse Atlantic “already in a much stronger position strategically and financially than many other airlines”.