Norwegian Air in Dispute with Spanish Lender Santander -Report

Date : 06/05/2012 @ 3:46AM
Source : Dow Jones News
Stock : Banco Santander, S.A. Sponsored Adr (Spain) (STD)
Quote : 6.1  0.0 (0.00%) @ 2:05AM

Norwegian Air in Dispute with Spanish Lender Santander -Report

Banco Santander (NYSE:STD)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more Banco Santander Charts.

Airline Norwegian Air Shuttle ASA (NAS.OS) and Spanish lender Banco Santander SA (STD) have become embroiled in a dispute over aircraft funding, according to a report in Norwegian magazine Finanasavisen Tuesday.

The Norwegian carrier borrowed money from the Spanish bank to buy five new Boeing 737 aircraft last year, but when the first plane was ready for delivery in May this year the bank, hit by the euro crisis, called for a new funding contract, Finansavisen reports. Santander required a higher interest margin on the loans and discarded the old contract, according to the report.

The airline, which managed to find new funding from an American bank, is now considering a lawsuit against Santander, as the delivery of the first plane was delayed by five days, says the report.

Newspaper website: www.hegar.no

Write to Christina Zander at christina.zander@dowjones.com




Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.