Norwegian Air seeks debt restructuring as coronavirus crisis grounds fleet

OSLO (Reuters) - Norwegian Air is proposing a conversion of debt to equity as well as a share issue as it seeks to stay in business following the COVID-19 outbreak that has grounded almost all of its fleet, the budget carrier said on Wednesday.By boosting its equity, the airline would also qualify for government guarantees of up to 3 billion Norwegian crowns ($292 million)."Norwegian aims to strengthen its balance sheet by converting debt to equity to meet the requirements of the Norwegian..