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Norwegian Air Shuttle ASA (NWC.OL)

NWC.OL on Oslo Stock Exchange

26 May 2017
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Latest Key Developments (Source: Significant Developments)

Norwegian Air cuts 2017 capex forecast to $1.1 bln from $1.3 bln
Monday, 22 May 2017 04:10am EDT 

May 22 (Reuters) - Norwegian Air Shuttle Asa :Now expects 2017 capex $1.1 billion versus $1.3 billion seen in April nFWN1HZ0BZ.2018 capex forecast remains at $2.1 billion.Says capex forecasts include all aircraft, including PDP (pre-delivery payment).  Full Article

Norwegian Air contemplates bond issue
Thursday, 18 May 2017 04:00am EDT 

May 18 (Reuters) - Norwegian Air Shuttle Asa :Fixed income investor meetings and contemplating new bond issues.Has mandated arctic securities, danske bank, dnb markets and seb to arrange fixed income investor meetings on monday 22 may 2017.May issue a new 3.5 year nok denominated bond and potentially tap outstanding eur bond under ticker "nas07".Current outstanding amount of nas07 is eur 185 million and maximum borrowing limit is eur 250 million.Net proceeds from transactions will be used to refinance "nas04".Proceeds will also be used for general corporate purposes.  Full Article

Norwegian Air completes financing of 9 aircrafts
Friday, 5 May 2017 01:02am EDT 

May 5 (Reuters) - Norwegian Air Shuttle Asa ::Norwegian Air's subsidiary Arctic aviation assets ltd (aaa) has signed an agreement with a new syndicated structure regarding financing of all six 737 max 8 aircraft with delivery in 2017.In addition three 737-800s will be financed with sale and leaseback.This covers all the scheduled deliveries of Boeing 737 MAX 8 aircraft during 2017 .Six Boeing 737 MAX 8 aircraft is financed with an insurance guaranteed financing product.A total 15 new Boeing 737-800 aircraft delivered from January through June this year are to be financed through sale and leaseback. In addition, one Airbus 320neo has been financed with commercial debt." With these agreements, we have also utilized a new source of financing coming available this spring. Our focus is now on 2018-19 financing program,” said Norwegian’s CFO Frode Foss.  Full Article

Norwegian Air sees "some softness" in May booking volumes
Thursday, 27 Apr 2017 02:30am EDT 

April 27 (Reuters) - Norwegian Air Shuttle Asa :Says 2017 capacity-adjusted booking volumes on par with last year, except some softness in May.  Full Article

Norwegian Air posts larger-than-expected Q1 loss
Thursday, 27 Apr 2017 01:00am EDT 

April 27 (Reuters) - Norwegian Air Shuttle Asa :Q1 net loss NOK 1.49 billion ($173.74 million) (Reuters poll loss NOK 1.3 billion).Q1 adjusted ebitdar NOK -352 million (Reuters poll loss NOK 320 million).Q1 revenue NOK 5.41 billion (rtr poll NOK 5.34 billion).Q1 pretax loss NOK 1.85 billion (Reuters poll loss NOK 1.76 billion).Norwegian air keeps 2017 outlook for 30 percent production growth and unit costs of nok 0.39-0.40.The demand for travelling with norwegian and advance bookings have been satisfactory entering the second quarter of 2017.  Full Article

Norwegian Air raises SEK 200 million in bond issue
Wednesday, 15 Mar 2017 06:00am EDT 

Norwegian Air Shuttle Asa : Has successfully completed a tap issue of SEK 200 million ($22.26 million) in unsecured bond expected to be listed on Oslo Stock Exchange . Following the tap issue the total nominal amount outstanding in 'NAS08' will be SEK 1,000 million .Net proceeds from the tap issue will be used for general corporate purposes. Arctic Securities, DNB Markets and SEB acted as joint lead managers.  Full Article

Norwegian Air raises SEK 800 mln in bond issue
Wednesday, 25 Jan 2017 11:50am EST 

Norwegian Air : Has successfully completed a new unsecured bond issue of SEK 800 million ($90.63 million) with maturity date 7 august 2020 at stibor +500 bp . The net proceeds from the bonds shall be employed for general corporate purposes in support of the growth of the group. An application will be made for listing of the bonds on the Oslo Stock Exchange . Arctic, DNB Markets and SEB acted as joint lead managers in connection with the placement of the new bond issue Further company coverage: [NWC.OL] ($1 = 8.8270 Swedish crowns) (Reporting By Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

Norwegian Air seeks to raise cash through bond issue
Monday, 26 Sep 2016 04:00am EDT 

Norwegian Air Shuttle : says contemplating a tap issue in unsecured bond nas07 . says net proceeds from contemplated tap issue will be used for general corporate purposes . says current outstanding amount is EUR 125 million .says arctic securities danske bank markets, dnb markets and seb are retained as joint lead managers in connection with placement of contemplated tap issue.  Full Article

Norwegian selects 30 Airbus A321lr for first transatlantic routes
Thursday, 14 Jul 2016 02:21am EDT 

Airbus Group : Norwegian selects 30 A321lR for first transatlantic routes . This follows a commitment signed in June 2012 for 100 A320NEO aircraft Further company coverage: [AIR.PA] (Gdynia Newsroom) ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;)).  Full Article

Norwegian Air raises 2016 unit cost guidance due strike, Q2 earnings in line
Thursday, 14 Jul 2016 01:18am EDT 

Norwegian Air Shuttle : Q2 pretax result NOK 930 million (Reuters poll NOK 925 million) . Q2 EBITDAR NOK 1.97 billion (Reuters poll NOK 2.06 billion) . Q2 revenue NOK 6.63 billion (Reuters poll NOK 6.45 billion) . Sees 2016 production growth (ASK) of 18 percent (previous guidance +18 percent) . 2016 unit cost target (CASK) of around NOK 0.38 (previous guidance NOK 0.37) . Says the demand for travelling with Norwegian and advance bookings have been satisfactory entering the third quarter of 2016. .The unit cost guidance for 2016 is raised from NOK 0.37 in the previous guiding mainly due to cost from use of wetlease..  Full Article

More From Around the Web

Norwegian Air takes fares fight to Asia with new London-Singapore route

BERLIN, April 20 Low cost carrier Norwegian Air Shuttle announced its first route linking London and Asia on Thursday, starting a service to Singapore as it seeks a slice of the market for business and leisure travellers on longer haul flights.