4 September 2019
Norwegian Airlines has said that it is willing to sell its take-off and landing slots at Gatwick to help ease cash crisis.
The move would allow for a delay on the repayment of bonds worth nearly $400 million.
The budget carrier is requesting extensions on two bonds, the first due in December and the second next August, and is willing to put up its slots at Gatwick as collateral.
Norwegian says the move is necessary to “ensure successful operations” and “adequate liquidity headroom” ahead of what is expected to be another tough winter.
It wants to push the payments back to November 2021 and February 2022 respectively.
