NAS.OL - Norwegian Air Shuttle ASA
| Previous close | 26.50 |
| Open | 26.00 |
| Bid | 23.96 x N/A |
| Ask | 23.99 x N/A |
| Day's range | 22.76 - 26.00 |
| 52-week range | 22.76 - 64.66 |
| Volume | 10,792,949 |
| Avg. volume | 2,117,143 |
| Market cap | 3.723B |
| Beta (5Y monthly) | 1.14 |
| PE ratio (TTM) | N/A |
| EPS (TTM) | -12.63 |
| Earnings date | 30 Apr 2020 |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | N/A |
| 1y target est | 224.45 |
- Reuters - UK Focus
Boeing's MAX delivery schedule to Norwegian "unrealistic" -CFO
Boeing's plan to deliver 16 MAX aircraft this year to Norwegian Air is "unrealistic", the airline's chief financial officer said on Thursday. "It is unrealistic but this is what Boeing has in its delivery schedule," Geir Karlsen told analysts and media on Thursday after presenting the firm's fourth-quarter results.
- Reuters - UK Focus
CORRECTED-Second Spanish airline applies to fly domestically in Brazil
Spanish airline Air Nostrum, Iberia's regional franchise airline, has become the second foreign airline to seek permission to operate domestic flights in Brazil, civil aviation regulator ANAC said on Friday. If and when it obtains authorization, flights would start in the second half of this year under a new airline name, ANAC said in a statement.
- Reuters
Norwegian Air's shares jump as turnaround takes off
Norwegian Air's turnaround gathered pace last month as the budget carrier removed unprofitable routes from its network and boosted the income from remaining flights, sending its shares up almost 6% in early trade. The airline's yield - income per passenger carried and kilometre flown - rose 15% to 0.40 Norwegian crown ($0.0435), its monthly traffic report showed on Thursday, beating a 0.37 crown forecast in a Reuters poll of analysts.
- Reuters - UK Focus
Norwegian Air's January passenger income jumps
- Reuters
Norwegian Air calls off additional share sale
Norwegian Air has called off plans for a so-called repair offering of shares as the market price has dropped below the level at which the budget carrier sold new equity late last year, it said on Tuesday. Taking part in a repair offering would have allowed small shareholders, who were not invited to invest in the company's main offering in November, to maintain an unchanged stake in the firm.
- Reuters - UK Focus
Norwegian Air not planning to use Boeing MAX this summer -CEO
- Bloomberg
Ryanair Boss Might Get His $110 Million Bonus
(Bloomberg Opinion) -- When shareholders narrowly voted to approve a possible 99 million euros ($110 million) bonus for Ryanair Holdings Plc boss Michael O’Leary in September, it seemed unlikely they’d actually have to pay him the money.The terms of the reward plan require O’Leary to get the stock price back above 21 euros, and at the time of the annual meeting it was languishing at less than 10 euros. (Alternatively he needs to double net profit).How times have changed. On Friday the shares jumped as much as 11% after Ryanair reported stronger than expected Christmas sales and ticket prices. The stock has gained almost two-thirds since the AGM, meaning O’Leary’s windfall is back within grasp. His stock options are triggered if the share price exceeds 21 euros for a four-week period between April 2021 and March 2024.A year ago I wrote that Ryanair’s bonus plan is pretty egregious because the share price might jump for reasons that have nothing to do with O’Leary’s skills as a manager. Guess what? That’s exactly what has happened — in myriad fortunate ways. European stocks have rallied since September thanks in part to the massive liquidity boost provided by the U.S. Federal Reserve. And airlines stocks in general have far outstripped the average for a variety of economic and structural factors.Boris Johnson’s thumping U.K. election victory means a no-deal Brexit is off the table (for now) and has boosted the pound, which is positive for Ryanair’s British revenues. And Thomas Cook Group Plc’s insolvency and cash-strapped Norwegian Air Shuttle’s diminished ambitions have supported ticket prices because of less competition.Another factor supporting prices is the grounding of Boeing Co.’s 737 Max following two fatal crashes, which means an expected surge of aircraft capacity hasn’t materialized.Ryanair is, of course, a big 737 Max customer and Boeing’s inability to deliver those planes has been extremely disruptive for O’Leary and limited his ability to expand. Yet one silver lining is that his airline has cut back on less profitable routes and is no longer struggling with a pilot shortage, which contributed to recent labor unrest and investor concerns about rising personnel costs. One day the 737 Max will fly again, at which time a capacity glut will probably re-emerge; analysts at Citigroup Inc. note the size of the 737 Max order book in Europe is equivalent to 9% of the continent’s entire aircraft fleet.While analysts have turned more positive on Ryanair shares, the stock is 14% higher than their average price target, according to Bloomberg data. Based on the company’s updated profit guidance for the year to March of about 1 billion euros, the stock trades on a steep 18 times earnings. Higher fuel prices amid the conflicts in the Middle East could yet bring the airline sector back down to earth.Still, O’Leary has a decent shout at getting his money for doing very little. That shows how misguided Ryanair’s pay practices were.To contact the author of this story: Chris Bryant at cbryant32@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
Willie Walsh Wasn't Everybody's Favorite Pilot
(Bloomberg Opinion) -- A perennial risk in the airline industry is that executives splash money on shiny new planes but fail to make an adequate return. Willie Walsh, the chief executive officer of International Consolidated Airlines Group, has tried to do things differently by — shock! — insisting that the British, Irish and Spanish airlines he oversees make decent money. (Created in 2011, IAG now comprises British Airways, Spain’s Iberia, Ireland’s Aer Lingus and the no-frills Vueling and Level units).Nonetheless, the announcement on Thursday of his retirement won’t be mourned by all. His outspokenness and focus on the bottom line didn’t always endear him to customers, employees or suppliers. The moniker “Slasher Walsh” has stuck with him since his days running Aer Lingus, when he cut thousands of jobs and sold the company art collection.Today some British Airways customers lament that the “world’s favorite airline” isn’t as polished as it was — a series of IT glitches haven’t helped. Aircraft maker Airbus SE, engine supplier Rolls-Royce Holdings Plc and Heathrow airport have all received a tongue-lashing from Walsh lately.Investors are a different story. They admired his disciplined approach to capital allocation and his persistence in trying to consolidate the fragmented European industry under the IAG umbrella. This holding company structure has become fashionable — Rynair Holdings Plc and Germany’s Deutsche Lufthansa AG are copying it, and no wonder.If done well, knitting together national carriers like this should bring the cost-saving advantages of scale without compromising brand identities (or provoking political opposition to mergers). Walsh has been a keen acquirer but he also knew when to back off; he showed fortitude last year by acquiring a small stake in Norwegian Air Shuttle ASA in anticipation of a possible bid, and then walking away when his expectations weren’t met.IAG’s operating margins have steadily expanded, allowing the company to increase shareholder returns. Dividends and buybacks have totaled 4.1 billion euros ($4.6 billion) since 2015. Since 2011 the shares have returned 190% with dividends reinvested, about 13% a year. That’s not shabby considering the desperately low valuations investors ascribe to airlines. IAG trades on less than 7 times estimated earnings.Walsh’s departure feels like the end of an era, and he’s not the only long-timer nearing the departure gate. Tim Clark is stepping down from Emirates and Michael O’Leary is giving up directly overseeing Ryanair to focus on its new holding structure. IAG’s in decent shape but perhaps this is a good moment to be leaving the cockpit. The new decade will probably be hard for airlines. While Walsh has committed to achieving net zero emissions, environmental taxes may yet curtail his company’s growth ambitions or require expensive investments in even more fuel-efficient jets. His replacement, Luis Gallego of Iberia, will have to be equally disciplined.To contact the author of this story: Chris Bryant at cbryant32@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Yahoo Finance UK
Airline stocks drop as problems mount for Boeing and oil rises
Stocks in airline and aerospace companies sold off on Wednesday amid a flurry of bad news for the sector.
- Reuters
Norwegian Air makes progress on turnaround plan after cutting capacity by a quarter
Norwegian Air cut its capacity by a quarter in December, removing loss-making routes as it made headway on its plan to regain profitability, traffic data from the budget carrier showed on Tuesday. The airline has shaken up the transatlantic travel market with low fares, but breakneck expansion and the forced grounding of its Boeing 737 MAX fleet also brought mounting debts and losses. Norwegian has raised funds from investors three times in 20 months to prevent it from joining the ranks of airlines that have collapsed due to industry overcapacity.
- Reuters
Norwegian Air hoping to agree Boeing 737 MAX compensation this year
Norwegian Air hopes to agree compensation from Boeing by year-end over the grounding of the 737 MAX, the airline's acting CEO said, as it counts the costs of having 18 of the aircraft grounded since March. "The dialogue (with Boeing) has been ongoing since summer and we hope to come to an understanding before the end of the year," acting Chief Executive Geir Karlsen said in a podcast made on Dec. 11 and released by brokerage DNB Markets on Dec. 18. Norwegian has 92 737 MAX aircraft on order.
- Yahoo Finance UK
Boeing 737 Max suspension sends shockwaves through airline industry
Shares in engineering firms and airlines dropped across Europe after Boeing said it was pausing production of the troubled 737 MAX.
- Reuters
Fewer flights help Norwegian Air improve profitability
November traffic figures show Norwegian Air's drive to slash flights is helping to improve profitability, sending the debt-laden airline's shares up 6% in early Thursday trading. The company is targeting a 10% cut in ASK for 2020 from 2019, it said in October.
- Reuters - UK Focus
UPDATE 3-Fewer flights help Norwegian Air improve profitability
November traffic figures show Norwegian Air's drive to slash flights is helping to improve profitability, sending the debt-laden airline's shares up 6% in early Thursday trading. The cut-backs helped the budget carrier fill remaining flights, increasing the number of seats sold on each aircraft as well as income per passenger.
- Reuters - UK Focus
UPDATE 2-Norwegian Air to end routes from Sweden, Denmark to U.S, Thailand
Budget airline Norwegian Air is ending flights from Copenhagen and Stockholm to the United States and Thailand due to weak demand and technical problems affecting the engines on its Boeing 787 Dreamliners, it said on Wednesday. Flights between Oslo and the United States would continue, while routes between Norway and Thailand were under review, it said, the latest initiative to cut costs and restore profits after rapid expansion left the carrier weighed down by debt. "Scandinavia isn't big enough to maintain intercontinental flights from Oslo, Stockholm and Copenhagen," Senior Vice President Commercial Matthew Wood said in a statement.
- Reuters
Norwegian Air to end routes from Sweden, Denmark to U.S., Thailand
Budget airline Norwegian Air is ending flights from Copenhagen and Stockholm to the United States and Thailand due to weak demand and technical problems affecting the engines on its Boeing 787 Dreamliners, it said on Wednesday. Flights between Oslo and the United States would continue, while routes between Norway and Thailand were under review, it said, the latest initiative to cut costs and restore profits after rapid expansion left the carrier weighed down by debt. "Scandinavia isn't big enough to maintain intercontinental flights from Oslo, Stockholm and Copenhagen," Senior Vice President Commercial Matthew Wood said in a statement.
- Reuters
Airlines get ready for jet biofuel take-off in Norway
Airlines are confident of having sufficient supplies of biofuel-infused jet fuel to comply with a Norway requirement which takes effect next year, although they warn of additional costs. From January, jet fuel suppliers in Norway must blend 0.5% of biofuel in all their aviation fuel, a policy Oslo hopes will boost supply and demand and lead to lower CO2 emissions. Although aviation biofuel suppliers say it can cut the carbon footprint of airlines by up to 80%, it costs four times as much as normal jet fuel, which has so far curtailed usage and therefore demand for increased production.
- Reuters
Norwegian Air appoints industry outsider as new CEO to lead restructuring
Loss-making Norwegian Air has appointed Jacob Schram as chief executive to take charge of the budget carrier's restructuring as it struggles with a low-cost, long-haul model in an overcrowded industry. Schram, who does not have a background in aviation, joins Norwegian from management consulting company McKinsey and was previously a top executive in the petrol retail industry, Norwegian's board said on Wednesday. Schram, 57, will be tasked with cutting costs and making the airline profitable again after the breakneck expansion left it with hefty losses and high debts, forcing it to repeatedly ask shareholders for new funds to stave off collapse.
- Reuters - UK Focus
UPDATE 4-Norwegian Air appoints industry outsider as new CEO to lead restructuring
Loss-making Norwegian Air has appointed Jacob Schram as chief executive to take charge of the budget carrier's restructuring as it struggles with a low-cost, long-haul model in an overcrowded industry. Schram, who does not have a background in aviation, joins Norwegian from management consulting company McKinsey and was previously a top executive in the petrol retail industry, Norwegian's board said on Wednesday.
- Reuters - UK Focus
Norwegian Air appoints Jacob Schram as CEO
