Norwegian to raise 300 mn euros to bolster finances

Struggling low-cost carrier Norwegian Air Shuttle said Tuesday it planned to sell new shares to raise three billion kroner (309 million euros) to meet financial obligations as it restructures and cuts costs.

End of an era in Indian aviation as Goyal bows out

Jet Airways founder Naresh Goyal rose from humble beginnings to be undisputed king of India's skies. But now, at 69, massive debts have forced him to cede control of the pioneering airline he founded.

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