The future of struggling Norwegian Air is looking brighter with a new investment from China.
The airline, who was faced with possible bankruptcy after the coronavirus crisis wiped out the travel industry, just underwent a major restructuring.
BOC Aviation, a Singapore-based company, which through an investment arm of Bank of China is owned by the Chinese government, is now one of the new investors in the budget airline.
Following another set of financial changes, Norwegian Air recently announced that it secured a 3 billion NKR ($290 million USD) package from the Norwegian government as part of a restructuring plan.
Norwegian Air’s new share ownership is deep-rooted in the Chinese government. BOC (Bank of China) now owns 12.67 percent of Norwegian Air.