Norwegian Air cuts 2024 operating profit forecast

Budget airline Norwegian Air cut its operating profit outlook for 2024 on Monday, citing a negative impact from the weakening of the Norwegian crown currency against the dollar. The airline now expects its full-year operating profit to be around 1.85b Norwegian Crowns ($161.04m), compared to its previous outlook from October of between 2.1b and 2.4b. Shares fell around 7% in early trade on Oslo's stock exchange. "The deterioration is predominately the result of balance sheet adjustments relating the weakening of the NOK against the USD during the fourth quarter," it said in a statement. Norwegian Air will publish its full-year earnings on Feb. 13.<br/>