China Becomes Key Owner of Norway’s Largest Airline
The Chinese government has become one of largest shareholders in deeply troubled Norwegian Air following a debt-to-equity plan.
The aircraft leasing firm BOC Aviation, which is headquartered in Singapore, is listed on the Hong Kong Stock Exchange and can be linked to the Chinese state via a long chain of ownership, now holds nearly 13 percent of all Norwegian’s shares. Via a series of firms and banks, BOC Aviation is controlled by China Investment Corp, which is wholly owned by the People’s Republic of China, the press-release said.
A dramatic debt restructuring, where leasing companies and lenders have