May 4, 2020 / 8:09 AM / 23 days ago

Norwegian Air's shareholders vote in favour of rescue plan: DN

FILE PHOTO: Passengers board a Norwegian Air plane in Kirkenes, Norway October 26, 2019. REUTERS/Gwladys Fouche

OSLO (Reuters) - Norwegian Air’s (NWC.OL) shareholders gave their backing on Monday to the company’s financial survival plan, with about 95% of votes cast supporting the conversion of debt into equity, financial daily Dagens Naeringsliv reported on Monday.

Approval of the scheme was vital to the company’s plan to tap government credit guarantees as it seeks to overcome the novel coronavirus pandemic.

The company has not confirmed the outcome of the vote, which is held online and with access for shareholders only.

Reporting by Terje Solsvik, editing by Gwladys Fouche

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