* Q4 loss smaller than expected
* Acquired another four Dreamliners
* Aims for lower cost, fast growth in 2014
OSLO, Feb 13 Norwegian Air, Europe's
third-biggest budget airline, reported smaller-than-expected
fourth-quarter losses on Thursday and said it ordered another
four Boeing 787 Dreamliners as it expands its fledgling
Norwegian, which has opened bases in places like Britain and
Spain, said it expected its available seat kilometres, a measure
of its passenger carrying capacity, to increase by 40 percent in
2014 after a 32 percent rise in 2013.
Its shares rose 7.6 percent in early trade.
"Norwegian will continue to take advantage of its increasing
competitive power realised through continuous cost efficiency,
and from introducing larger aircraft," the company said.
"Going forward, the company expects increased competitive
pressure in the Nordic market place."
The firm also signed a deal with International Lease Finance
Corporation to acquire four Boeing 787-9s, a stretched version
of the Dreamliner, bringing its total order of the jet to 14, of
which three are in operation.
Norwegian became the only European budget airline to operate
long-haul routes last year when it started flying to the United
States and Bangkok. It now plans to take on one of the most
competitive markets in the world with flights between London and
New York later this year.
In 2014, the airline said it would continue to reduce costs,
anticipating its cost per available seat kilometre, an indicator
of its efficiency, to fall to 0.40 crown from 0.42 crown last
It recorded a pre-tax loss of 283 million crowns ($46.27
million) in the fourth quarter after a 23 million-crown profit a
year earlier, beating expectations for a 356 million loss.