Business loss for Norwegian Air

Oslo – Budget carrier Norwegian Air struggled to fill its aircraft last month as capacity growth far outpaced demand, while a loss on fuel hedge contracts added to the airline’s woes, sending its shares down 9% yesterday.

While the airline’s capacity grew 34% year-on-year last month, revenue-generating passenger kilometres increased by 26%, its monthly traffic report showed, lagging a forecast of 33.7% in a Reuters poll of analysts. – Reuters