Bloomberg Norwegian Air Shuttle ASA is fighting for survival, with a last-ditch plan to convert debt to equity driving its share price down as much as 63% during the first frantic moments of trading on Tuesday. Norwegian Air’s proposal will dilute shareholders already counting their losses after Covid-19 ruined the company’s efforts to return to profitability. The plan calls for …

Bloomberg Deutsche Lufthansa AG is seeking shareholder approval to raise up to 2.4 billion euros ($2.6 billion), funds that could lower but not be enough to avoid the need for a government orchestrated bailout the carrier is facing to get through the coronavirus crisis. Germany’s flagship airline is seeking to issue 176 million new shares, or 36% of its existing …

Bloomberg Indonesia has overtaken Japan to become the world’s third-biggest aviation market as airlines continue to slash passenger capacity because of the coronavirus, according to OAG Aviation Worldwide. The country’s scheduled capacity is now 2.1 million seats, down 7.8% from last week, but just ahead of Japan’s after a drop of nearly 15% there. Chinese capacity rose 7.2% to 8.7 …