Airline falls into red

LOW- COST carrier Norwegian Air Shuttle has unveiled a £27m annual loss, a day after its first flight for South America took off.

The fall, from a profit of £104m in 2016, came as Norwegian ploughed cash into an ambitious expansion programme.

The airline is now flying from London Gatwick to Argentina four times a week, for £260 one-way.

The airline is seeking to shake up the longhaul market and slash costs, just as Ryanair and EasyJet did with short European trips decades ago. But its rush for growth has pushed up costs per passenger by 4pc.