You were absolutely right about this stock, and indeed, the worst-case scenario has played out. The load factor reached a good level for the summer, but the selling price wasn’t enough for a profitable result, and that strategically important investment/buyout offer, which this investment case largely relied on, fell through at the final stretch. Because of this, financing cannot be obtained from anywhere at a reasonable price, and now they are forced to carry out a share issue on very poor terms.
Terms of the investment were in principle agreed with the potential investor’s management. To Norse’s understanding, the investor’s board made the strategic decision not to enter the long-haul market and consequently did not approve the transaction.
Nothing for it but to raise the white flag and give up on this stock
