Chinese-based BOC Aviation acquires interest in Norwegian Air

Breitbart London has reported Norway´s airline Norwegian Air has announced it has received an investment from Communist-party (CCP) linked BOC Aviation, the news source said.

BOC Aviation bought a 12.7% stake in Norwegian Airlines after converting its bond loans into 390 million shares of the company.

Norwegian Air said the settlement was may as it tried to save the company from bankruptcy. Other firms have also bought significant stakes in the airline including Irish aircraft leasing company Aercap which bought 15.9% of the company.

It was also announced that the airline would be receiving a loan guarantee of three NOK 3bn (GBP 237m/USD 290m) from the Norwegian government.

Norwegian said its goal is not only to survive, but to come back stronger with a sustainable operation and a structure that will benefit shareholders, customers and colleagues.