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

NORWEGIAN AIR SHUTTLE ASA

(NAS)
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Norwegian Air Shuttle ASA : - Results from the bondholders' meetings

05/01/2020 | 11:02am EDT
Nordic Trustee AS has informed Norwegian Air Shuttle ASA ("the Company") about
the results from bondholders' meetings (see attachment below). 
 
The Company is pleased to see very robust support from 3 out of 4 bondholder
groups, approving the Company´s proposals. The proposal to NAS07 did, however,
not receive sufficient support with a vote in favour of 62% (2/3 required). The
Company is however continuing a constructive dialogue with bondholders to assess
whether the required majority for approval of the proposal can be reached. 
 
The Company has furthermore received strong support from lessors for a minimum
conversion to equity of 550 million USD (excluding conversion under the
so-called power-by-the-hour arrangement), which would satisfy the condition set
out in the proposal to the bondholders. 
 
The Company's scheduled extraordinary general meeting will be conducted as
planned on Monday 4 May 2020. 
 
The Company intends to summon a new bondholder meeting planned to be held on
Monday 18 May 2020. The Company will on Monday 4 May 2020 determine the timeline
for the capital raise, which will end on or about 18 May 2020.
 
"Our dialogue with the bondholders continues with the clear goal of reaching a
solution. Unfortunately, we were not able to reach an agreement within the
deadline. However, the discussion is continuing through the weekend to find a
solution, said CEO Jacob Schram of Norwegian.

Fornebu, 1 May 2020

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© Oslo Bors ASA, source Oslo Stock Exchange

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Financials
Sales 2020 9 275 M 1 106 M 1 106 M
Net income 2020 -7 334 M -875 M -875 M
Net Debt 2020 52 756 M 6 291 M 6 291 M
P/E ratio 2020 -0,20x
Yield 2020 -
Capitalization 2 272 M 271 M 271 M
EV / Sales 2020 5,93x
EV / Sales 2021 4,29x
Nbr of Employees 9 389
Free-Float 66,6%
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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 53,42 NOK
Spread / Highest target 2,96%
Spread / Average Target -48,5%
Spread / Lowest Target -100%
EPS Revisions
Managers and Directors
NameTitle
Jacob Schram Chief Executive Officer
Geir Magne Karlsen Chief Financial Officer & Deputy CEO
Niels Smedegaard Chairman
Kurt Simonsen Chief Information Officer
Knut Olav Irgens Melhus Høeg Executive Vice President-Information Technology
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