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Norwegian Air’s cash crisis could force the debt-laden budget airline to halt operations early next year, the company warned as it issued another plea for rescue funding after reporting quarterly results on Tuesday. The rapid expansion of the pioneer in low-fare transatlantic flights has left it with heavy debts and problems that have been compounded by the COVID-19 pandemic. It is now serving domestic routes only, with just six of its 140 aircraft flying. “Norwegian is dependent on additional working capital in order to continue operating through the first quarter of 2021 and beyond,” the carrier said. The company held cash and cash equivalents of 3.4 billion kroner ($380m) at the end of September, down from 4.98 billion kroner ($550m) three months earlier. Its latest plea comes after Nor...
Manchester United have been linked with a move for the Borussia Dortmund attacker Jadon Sancho this summer. The Premier League side are yet to find an agreement with the German club for the England international but latest reports claim that the Red Devils believe a deal can be done before the transfer window closes next month. Sancho managed to score 20 goals last season and he picked up 20 assists as well. There is no doubt that he is a world-class winger and he would improve Manchester United immensely. If he moves to Old Trafford, he is likely to start in place of Daniel James and it would be a massive upgrade for Solskjaer’s side. Sancho would add goals, assists and unpredictability to the United attack. He could form a lethal partnership with Rashford and Martial for years to come. I...
France and Germany proposed Monday a 500-billion-euro ($542-billion) fund to finance the recovery of the European Union’s economy from the devastation wrought by the coronavirus crisis. Putting aside past differences and seeking to prove that the Franco-German core of Europe remains intact, President Emmanuel Macron and Chancellor Angela Merkel announced the unprecedented package after talks by video conference. European Central Bank head Christine Lagarde told major European newspapers that “the Franco-German proposals are ambitious, targeted and welcome.” With the European economy facing its biggest challenge since World War II, Macron also acknowledged that the EU had fallen short in its initial response to the virus and needed to coordinate more closely on health. Financed by “borrowin...