Budget airline blames Rolls Royce for financial hit
Budget airline Norwegian posted slower than expected growth in December, and pointed the finger at Rolls Royce for a financial hit in the second half of 2018.
The carrier, which is the subject of intense takeover speculation, expanded capacity by 34 per cent last month, but the number of kilometres travelled by paying passengers rose just 24 per cent, below forecasts.
The airline’s load factor, a key metric of how many seats are sold per flight, fell from 84.6 per cent in December 2017 to 78.6 per cent.
In an end of year update, Norwegian also said financial results for 2018 will be hit by technical issues with its Trent 1000 engines, supplied by Rolls Royce. The engines are used on Dreamliner aircraft.