Sweden's Debt Office has refused a state credit guarantee for Norwegian Air , it said on Tuesday, renewing liquidity concerns for the struggling airline amid the coronavirus crisis.
STOCKHOLM - Sweden’s Debt Office has refused a state credit guarantee for Norwegian Air NORR.OL, it said on Tuesday, renewing liquidity concerns for the struggling airline amid the coronavirus crisis.
“The Debt Office’s assessment in regard to Norwegian is that as of 31 December 2019 there was a very high risk that Norwegian would not be able to fulfil its financial commitments and that the company was not deemed capable then of managing further indebtedness,” it said in a statement. “We meet all of the requirements, so the only way to interpret this rejection is that the authorities do not want competition in Sweden,” he said in an email.
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