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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Norwegian Air Shuttle ASA    NAS   NO0010196140

NORWEGIAN AIR SHUTTLE ASA

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Norwegian Air Shuttle : Norway extends duration of pandemic loan guarantees to airlines

11/24/2020 | 05:53am EST
FILE PHOTO: Passengers board a Norwegian Air plane in Kirkenes

OSLO (Reuters) - Norway will extend the duration of pandemic-related loan guarantees given to airlines, the government said on Tuesday, but did not make additional funds available to crisis-hit Norwegian Air.

The revised plan will give airlines up to three years to repay loans guaranteed by the government, an increase from two years originally, the Industry Ministry and the Ministry of Transportation said in a joint statement.

"The crisis among airlines is more long-lasting and serious than expected and it is necessary to give further assistance to the industry," the ministries said.

Norwegian Air, which last week sought court-administered bankruptcy protection as the carrier seeks to stave off collapse, has already received a maximum 3 billion crowns ($333.7 million) allotment under the plan.

The government on Nov. 9 rejected Norwegian's plea for an additional injection of cash.

Nordic carrier SAS, which has not yet sought loan guarantees under Norway's plan, can apply at any time before June 30 next year, the government said. The original deadline was end-2020.

The maximum allotment available to SAS under the guarantee programme is 1.5 billion Norwegian crowns.

($1 = 8.9914 Norwegian crowns)

(Reporting by Terje Solsvik; editing by Victoria Klesty and Barbara Lewis)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
NORWEGIAN AIR SHUTTLE ASA 3.28% 64.24 Real-time Quote.-28.46%
SAS AB (PUBL) -1.81% 1.684 Delayed Quote.-6.03%
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Financials
Sales 2020 9 275 M 1 084 M 1 084 M
Net income 2020 -7 334 M -857 M -857 M
Net Debt 2020 52 756 M 6 166 M 6 166 M
P/E ratio 2020 -0,24x
Yield 2020 -
Capitalization 2 553 M 297 M 298 M
EV / Sales 2020 5,96x
EV / Sales 2021 3,46x
Nbr of Employees 9 389
Free-Float 66,6%
Chart NORWEGIAN AIR SHUTTLE ASA
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Norwegian Air Shuttle ASA Technical Analysis Chart | NAS | NO0010196140 | MarketScreener
Technical analysis trends NORWEGIAN AIR SHUTTLE ASA
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 5
Average target price 27,50 NOK
Last Close Price 64,24 NOK
Spread / Highest target -14,4%
Spread / Average Target -57,2%
Spread / Lowest Target -100%
EPS Revisions
Managers and Directors
NameTitle
Jacob Schram Chief Executive Officer
Niels Smedegaard Chairman
Johan Gauermann Executive Vice President-Operations
Geir Magne Karlsen Chief Financial Officer & Deputy CEO
Kurt Simonsen Chief Information Officer
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