Norwegian Air has cut its expected capacity growth for 2019 to just 9pc from 15-20pc seen previously as it seeks to preserve cash and prioritise profits over growth, it said on Thursday while reporting a fourth-quarter loss. Norwegian Air has cut its expected capacity growth for 2019 to just 9pc from 15-20pc seen previously as it seeks to preserve cash and prioritise profits over growth, it said on Thursday while reporting a fourth-quarter loss. Europe's third-largest budget carrier by passenger numbers, which on Wednesday postponed 16 aircraft deliveries from Boeing and Airbus, raised its capacity by 37pc in 2018 from 2017. Norwegian Air's fourth-quarter result plunged to a loss of NOK3bn (€300m) from a deficit of NOK713m (€74m) a year ago. When IAG, Air Lingus' parent company, last month abandoned its attempt to buy the firm, Norwegian announced plans to raise cash from shareholders in the coming weeks.

Source: Irish Independent February 07, 2019 08:26 UTC