Norway to extend loan guarantees for airlines

Norwegian Air Boeing 737-800 lands at the Riga International Airport in Riga, Latvia. EPA-EFE/TOMS KALNINS

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Norway’s government plans to extend a state guarantee for loans to airlines by four months until the end of October, it said in a statement on Friday.

Norwegian Air, which has obtained guarantees worth 3 billion Norwegian crowns ($307 million), is the biggest beneficiary of a 6 billion crown package that was introduced in the wake of the coronavirus outbreak.

Meanwhile, Norway’s government will present a plan later this year with an aim of boosting the country’s exports, which have declined during the coronavirus outbreak, the foreign minister and industry minister said on Friday.

“Norwegian companies will get good support to get started in international markets during, and after, the crisis,” Foreign Minister Ine Eriksen Soereide and Iselin Nyboe said in a joint statement.

Via Reuters

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