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Norway's credit for airlines gets regulatory approval

OSLO (Reuters) - Norway's planned government credit guarantee for airlines can be implemented immediately after it received a green light by the EFTA Surveillance Authority (ESA), the Industry Ministry and ESA said on Tuesday.

The guarantees, worth up to 6 billion Norwegian crowns ($574 million), will be given primarily to Norwegian Air , SAS and local carrier Wideroe to help alleviate the impact from the coronavirus outbreak.

Norwegian Air, which could get up to 3 billion, must first meet a range of conditions, including that financial creditors would not be paid while financial guarantees are in place.

(Reporting by Terje Solsvik; editing by Jason Neely)

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