Corporate restructuring and recapitalization
FILE - In this undate file photo, Geir Karlsen speaks, in Fornebu, Norway. Low-cost carrier Norwegian Air Shuttle has tapped the carrier’s CFO Geir Karlsen as new chief executive on Monday, June 21, 2021, a day after the board decided to immediately terminate its contract with CEO Jacob Schram. No reason was given for the change . Schram told Norwegian news agency that the firing "came as a great surprise to me. (Stian Lysberg Solum/ NTB via AP, File)
In surprise move, Norwegian low-cost airline names new CEO

Jun. 21, 2021 08:19 AM EDT

FILE - In this Wednesday, Nov. 20, 2019 file photo, Jacob Schram poses for the media after being announced as the new CEO of Norwegian Air Shuttle, in Oslo. Low-cost carrier Norwegian Air Shuttle “has been saved,” top boss CEO Jacob Schram said Wednesday May 26, 2021, adding it had “written history” as the ailing airline had struggled with the fallout of the coronavirus pandemic and a debt restructuring plan. (Vidar Ruud/NTB Scanpix via AP, File)
Norwegian low-cost airline 'has been saved,' CEO says

May. 26, 2021 06:57 AM EDT

FILE - In this July 20, 2020 file photo, people exercise during a government-ordered lockdown to curb the spread of the new coronavirus in Buenos Aires, Argentina, after the city government authorized people to exercise outdoors as part of a roadmap for rolling back on Covid-19 curbing quarantine restrictions. Argentina’s government said Tuesday, Aug. 4, 2020, it has reached an agreement with its main creditors to restructure billions of dollars in foreign debt, offering some relief for a country hobbled by recession even before the pandemic hit. (AP Photo/Natacha Pisarenko, File)
Argentina reports debt restructuring deal with creditors

By Almudena Calatrava And Christopher Torchia Aug. 04, 2020 02:50 PM EDT

California Resources Corp files for Chapter 11 protection

Jul. 16, 2020 03:30 PM EDT
SANTA CLARITA, Calif. (AP) — One of the state’s major oil companies said it has filed for Chapter 11 bankruptcy protection as part of an agreement with...

FILE - In this Friday, April 26, 2019 file photo, SAS planes are grounded at Oslo Gardermoen airport during pilots strikes, in Oslo. Scandinavian Airlines said Tuesday June 30, 2020, it is getting an aid package worth 14.25 billion kronor ($1.5 billion) after an agreement with its main shareholders, securing the carrier’s survival amid the COVID-19 crisis. (Ole Berg-Rusten/NTB Scanpix via AP, File)
Scandinavian Airlines gets $1.5 billion to survive crisis

By David Keyton And Jan M. Olsen Jun. 30, 2020 04:30 AM EDT

European shares lower ... France to aid aerospace industry ... Cathay Pacific proposes recapitalization plan

Jun. 09, 2020 06:40 AM EDT
TOKYO (AP) — Shares opened lower in Europe today after a day of gains for most Asian markets. In early trading, France's CAC 40 fell 1.8%, while Germany's DAX...

FILE - In this March 6, 2020, file photo, Cathay Pacific Airways aircraft line up on the tarmac at the Hong Kong International Airport. Financially battered Hong Kong airline Cathay Pacific Airways says it is proposing the government help fund a $5 billion recapitalization plan to help it recover from the coronavirus pandemic. (AP Photo/Kin Cheung)
Hong Kong OKs $5 billion bailout for Cathay Pacific Airways

By Zen Soo Jun. 09, 2020 03:01 AM EDT

Board: Puerto Rico to see 65% surplus drop amid debt crisis

Dánica Coto May. 26, 2020 10:10 PM EDT
SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico’s finances said Tuesday that the island could be hit with a deficit earlier than...