Norwegian Air bondholders reject debt conversion plan, but talks continue

Some of Norwegian Air's bondholders have rejected a proposed debt-to-equity swap, the airline said on Friday, casting doubt on the plan seen as vital to help the indebted carrier survive the COVID-19 pandemic.

"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," CEO Jacob Schram said in a statement.

"However, the discussion is continuing through the weekend to find a solution."