Norwegian Air filled more seats in June, shares rise
Norwegian Air filled more seats on its planes than expected in June, compensating for a dip in passenger numbers due to the ongoing grounding of Boeing's 737 MAX jets, sending its shares higher Thursday. The carrier has curbed its rapid growth this year to focus on cutting costs and turning a profit. It has also raised NOK3b (US$351m) from shareholders to boost its finances. The airline's load factor rose to 91.5% from 90.5% in June 2018, and topped the 90.7% forecast by analysts in a Reuters poll. Its yield rose to 0.45 crown from 0.42 crown, just ahead of the 0.44 crown seen by analysts. "The efforts of closing down unprofitable routes are obviously starting to pay off, in addition to the fact that existing routes are becoming more mature and thereby perform better," Danske Bank analysts said in a note. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-07-05/unaligned/norwegian-air-filled-more-seats-in-june-shares-rise
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Norwegian Air filled more seats in June, shares rise
Norwegian Air filled more seats on its planes than expected in June, compensating for a dip in passenger numbers due to the ongoing grounding of Boeing's 737 MAX jets, sending its shares higher Thursday. The carrier has curbed its rapid growth this year to focus on cutting costs and turning a profit. It has also raised NOK3b (US$351m) from shareholders to boost its finances. The airline's load factor rose to 91.5% from 90.5% in June 2018, and topped the 90.7% forecast by analysts in a Reuters poll. Its yield rose to 0.45 crown from 0.42 crown, just ahead of the 0.44 crown seen by analysts. "The efforts of closing down unprofitable routes are obviously starting to pay off, in addition to the fact that existing routes are becoming more mature and thereby perform better," Danske Bank analysts said in a note. <br/>
