Bourbon has renewed a general waiver with the majority of its leasers and debt holders, allowing the company to suspend debt repayments.
The waiver will allow the company to “stay focused on its operational priorities, while pursuing its search for all solutions capable of adapting its financing to its performance, in a secured framework," a statement said.
The original waiver was finalised with Bourbon’s lenders in April 2018 to delay payments for 12 months.
The company’s outstanding loans and mounting losses stand at around EUR 1.12bn ($1.28bn).
Bourbon confirmed in November that it is still actively seeking new financial partners to deploy its strategic plan and develop its business, stating “all solutions are being considered”.
Three unidentified US funds are said to be ready to take over Bourbon via an injection of around EUR 200m ($227.3m) according to reports by French magazine Challenges in mid-December.
