Norwegian Air says lessors support rescue ahead of shareholder vote

OSLO (Reuters) – Norwegian Air has won “strong support” from lessors for its plan to convert debt to equity, the carrier said on Monday, as shareholders prepared to cast their vote on the scheme in a meeting set to begin at 0630 GMT.

With 95% of its fleet grounded amid the coronavirus pandemic, Norwegian Air could run out of cash by mid-May unless shareholders back the plan.

(Reporting by Terje Solsvik; Editing by Christian Schmollinger)