|Bid||38.38 x N/A|
|Ask||38.45 x N/A|
|Day's Range||37.85 - 40.50|
|52 Week Range||34.90 - 166.78|
|Beta (3Y Monthly)||2.20|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 11, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||224.45|
Norwegian Air shares rose 28% on Thursday following a report by Spanish business daily Expansion that the budget carrier could again become the target of takeover offers. Britain's IAG, the owner of British Airways, earlier this year sold its stake in Norwegian and said it was no longer interested in an acquisition. Citing "sources in the market", the Expansion report said investors are taking positions in Norwegian Air ahead of a possible takeover.
Troubled Norwegian Air Shuttle has warned that it may make redundancies among its pilots based at Gatwick airport after engine troubles grounded some of its Boeing 787 Dreamliner jets. The news comes as large numbers of Boeing planes have been grounded because of problems with the Rolls-Royce engines in the 787 and in the wake of two fatal crashes in the space of five months involving the 737 Max 8 jet, killing 346 people. This means it does not need all its 300 pilots based at Gatwick, the UK’s second biggest airport.
Norwegian Air filled more seats on its planes and earned higher revenues per customer in April while dealing with the grounding of its 18 Boeing 737 MAX aircraft, it said, sending the company's shares sharply higher in early trade. The company said last month that the global grounding of 737 MAX jets, which followed deadly crashes of airliners in Indonesia and Ethiopia, could scupper Norwegian's plan to return to profitability this year. While analysts had anticipated an income boost, there had been uncertainty about the impact of the 737 MAX groundings, as well as a strike among pilots at rival SAS.
European shares were little changed early on Tuesday with London markets leading losses as investors returned from a long weekend to digest a slew of earnings and watch for developments around U.S.-China trade talks. UniCredit helped lift the Milan index after Italy's biggest bank said it was considering a sale of its FinecoBank unit and had adopted measures to ensure the online broker could operate outside the group. Mobile phone group Cellnex gave a major boost to the IBEX 35 index on news that it had the go-ahead to buy Iliad's mobile tower assets in France and Italy for 2 billion euros ($2.24 billion.
If card providers are worried about a particular carrier’s finances, they can withhold more money on ticket sales from the company, potentially making its liquidity problem worse. Norwegian was forced to raise 3 billion kroner ($350 million) in capital in February to head off a liquidity and capital crunch that was made worse by cautious credit card companies. Receivables — mainly cash due to the company from ticket sales — jumped by more than one-third to an eye-popping 10.7 billion kroner in the first quarter.
Norwegian Air said the grounding of its Boeing 737 MAX aircraft may last until the end of August and could scupper the carrier's plan to return to profitability this year. Boeing's MAX aircraft have been grounded following the crash of a Lion Air plane in Indonesia last October and an Ethiopian Airlines jet last month, which together killed 346 people. The MAX ban will likely raise Norwegian's 2019 costs by up to 500 million Norwegian crowns (£44.8 million), the company said, adding that its efforts to cut other operating expenses were moving at a faster-than-expected pace.
Norwegian Air believes its fleet of 18 Boeing 737 MAX aircraft could remain grounded until the end of August, Chief Executive Bjoern Kjos told Reuters on Thursday. "There is a saying that you should hope for the best and plan for the worst, so we are planning to have (the MAX aircraft) on the ground throughout August," Kjos told Reuters on the sidelines of Norwegian's earnings presentation.
Norwegian Air does not expect to postpone more deliveries of aircraft from plane makers, the company said on Thursday. Norwegian late on Wednesday announced deals with Boeing and Airbus to postpone deliveries ...
Norwegian Air has agreed with Airbus and Boeing to reschedule delivery of aircraft to cut capital spending, the loss-making budget carrier said on Wednesday. In total, the announced restructurings and postponements of Boeing and Airbus aircraft delivery will reduce capital expenditure for 2019 and 2020 by $2.1 billion (1.6 billion pounds), the company said. The company said its Dublin-based subsidiary Arctic Aviation Assets DAC had reached an agreement with Boeing to postpone delivery of 14 737 MAX aircraft which were originally due in 2020 and 2021.
PARIS/OSLO (Reuters) - Norwegian Air's largest cabin crew union in France has called for a strike from April 24 to April 26, seeking higher pay and better working conditions, a union representative said on Saturday. UNAC union representative Anastasia Durand told Reuters the union represents 70 percent of the airline's 158 cabin crew based at Charles de Gaulle airport in Paris, also known as Roissy, from where Norwegian has four or five flights per day. Norwegian, which flies directly from Charles de Gaulle airport mainly to destinations in the United States, including New York and Los Angeles, was not immediately available to comment.
A Norwegian Air subsidiary has agreed with Airbus to postpone plane deliveries scheduled for this year and next, cutting its capital spending by $570 million (£436 million), the loss-making budget carrier said on Wednesday. It is the second time in two months that the airline has postponed aircraft deliveries. The latest postponement covers an order by Norwegian Air's Dublin-based aircraft leasing company Arctic Aviation Assets DAC for A320neos and A321LRs, Norwegian said.
COPENHAGEN, Denmark (AP) — Low-cost carrier Norwegian Air Shuttles says it is postponing the delivery of Airbus aircraft to reduce its capital expenditure by approximately $570 million in 2019 and 2020.
Norwegian Air earned less money than expected from each traveller in March but its aircraft filled up at a faster pace than analysts anticipated, the budget carrier's monthly traffic report showed on Thursday. The grounding last month of its Boeing 737 MAX jets following the deadly crash of an Ethiopian jet, has forced Norwegian to lease other aircraft as the peak summer season nears, further complicating its drive for profitability. While Norwegian has said it would seek compensation from Boeing for the cost of grounding its eighteen MAX fleet, its chief executive has also defended the aircraft model.
Just days after asking for a few more weeks to finish its software fix, Boeing Co. says its made a successful test run -- and also won kudos from the chief executive of Norwegian Air Shuttle. The aircraft maker on Wednesday tried out its updated software for its 737 MAX -- the same type of jet that saw two crashes in since October -- and said it appears to work.
Boeing's new MCAS flight control system for its 737 MAX aircraft appears foolproof, Norwegian Air Chief Executive Bjoern Kjos said on Wednesday after visiting the plane maker in Seattle. Kjos, a former fighter pilot, said in a series of tweets he had tested the old system versus the new one in a MAX simulator. More than 300 Boeing 737 MAX jets have been grounded worldwide after two fatal crashes in the past five months in Ethiopia and Indonesia killed nearly 350 people.
Norwegian Air has sold two of its Boeing 737-800 aircraft as part of its shift in emphasis from rapid growth toward profitability, the budget carrier said on Wednesday. Norwegian last month said it would postpone sales of six other aircraft of the same model, however, to help offset the impact of the worldwide grounding of Boeing 737 MAX jets. Under its fleet renewal program, loss-making Norwegian aims to sell older aircraft, often replacing them with new, more fuel-efficient models.