Sweden turns down Norwegian Air’s credit guarantee application

STOCKHOLM (Reuters) – The Swedish National Debt Office said on Tuesday it had rejected an application by Norwegian Air’s Swedish branch for a state credit guarantee under a guarantee programme for airlines.

“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.

(Reporting by Anna Ringstrom; editing by Johannes Hellstrom)