The Norwegian government has become the largest shareholder in Norwegian Air with a 6.4% stake, after converting a pandemic-era emergency loan into shares.
This move stems from a 2021 rescue package that helped the airline survive the COVID-19 crisis. Trade and Industry Minister Cecilie Myrseth emphasised that this was not a strategic investment but a result of past support to save jobs.
The state originally loaned NOK 615 million and will now receive shares worth NOK 862 million, effectively profiting from the arrangement. Norwegian Air initiated the conversion and expressed satisfaction with the outcome, calling it a strong agreement and praising cooperation with the state.