On 27 April 2020, Norwegian outlined its plans to qualify for a governmental loan from the Norwegian state, including the conversion of its debt and leasing commitments to equity, its intention to reduce its active fleet to seven Boeing 737-800 aircraft operating solely on domestic routes within Norway, and to postpone operations outside of Norway (including to the rest of Europe and intercontinental long-haul flights) until March 2021. The airline presented these plans as emerging as a "New Norwegian", further planning to reinstate additional aircraft and operations as demand would allow, and to ultimately operate between 110 and 120 aircraft, down from the 160+ aircraft it operated before the crisis. Shares in the airline continued to decrease in value in anticipation of the airline converting its debt to equity, which occurred on 20 May 2020, resulting in companies leasing aircraft to the airline (including AerCap and BOC Aviation) becoming the airline's largest shareholders.