Norwegian Air starts selling US$18 tickets for Argentina flights

Argentina’s peso is slumping and the economy can’t catch a break. Norwegian Air’s mostly shrugging it all off to offer plane tickets starting at US$18. The company is betting that a weaker peso will attract foreigners and a recession at home will boost domestic travel, said Ole Christian Melhus, CE of the Argentine unit. The company, which began selling tickets Tuesday for in-country flights in Argentina to begin Oct 16, is pushing for its low-cost flights to stand out in the middle of a currency rout. It’s a tricky time to be betting on Argentina. The country’s economy is expected to contract at least 1% this year, a far cry from earlier forecasts this year, which saw it growing 3%. Inflation remains stuck in the double digits, and the peso is the world’s worst emerging market currency this year, weakening 53%. <br/>