Small shareholders in Norwegian Air support Kjos after dialogue

Norwegian Air ShuttleNorwegian. Photo: Norway Today Media

The small shareholders who announced a rebellion against the crisis plan in Norwegian Air are now saying that they will still support the board’s proposal during the general meeting on Monday.

“We are turning 180 degrees and will vote for the board’s proposal on Monday,” said Helge Stray to Dagens Næringsliv.

Stray is a spokesman for small shareholders who have recently announced opposition to a rescue operation in the company. One of the reasons why the shareholder group was negative to Norwegian’s crisis plan was the fear that the company could end up in foreign hands.

But over the weekend, the shareholder group became convinced after Norwegian’s co-founder Bjørn Kjos contacted them and asked them to support the company.

Kjos confirmed to NRK that he has been in contact with the shareholders. According to the former Norwegian chief, several shareholders have now made a U- turn and will say yes to the crisis plan.

There are very few major owners left in the airline, which has made negotiations with shareholders about the crisis plan challenging.

On Monday morning, Norway will hold an extraordinary general meeting. The debt conversion proposal must receive a two-thirds majority during the general meeting if the plan is to succeed.

© NTB Scanpix / #Norway Today


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