COPENHAGEN, May 12 (Reuters) - Norway said on Monday it is converting half of a rescue loan to Norwegian Air during the COVID-19 pandemic into a 6.37% stake in the carrier.
The government said in a statement Norwegian Air was redeeming the other half of the convertible 1oan, which the state issued in 2021 as the airline was undergoing a reconstruction.
"Norwegian is now in a position where they can repay the loan, after the reconstruction and the subsequent work that the company has put in," the government said in a statement.
"Any divestiture of the state's remaining participation in the company will be considered based on developments in the company and the market."
Reporting by Stine Jacobsen, editing by Anna Ringstrom and Louise Rasmussen
Source: Reuters