Norwegian Air gets lifeline with backing of Norway’s richest man

NORWEGIAN AIR Shuttle is raising $353 million in a rights issue underwritten by investors including shipping magnate John Fredriksen. / BLOOMBERG NEWS FILE PHOTO/SIMON DAWSON
NORWEGIAN AIR Shuttle is raising $353 million in a rights issue underwritten by investors including shipping magnate John Fredriksen. / BLOOMBERG NEWS FILE PHOTO/SIMON DAWSON
NEW YORK - Norwegian Air Shuttle ASA gained the backing of Norway’s richest man, providing some stability to the struggling discount carrier as it searches for a new suitor following IAG SA’s decision to abandon its eight-month pursuit. The shares fell the most on record after Norwegian said Tuesday it’s raising 3 billion kroner ($353 million)…

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