February 13, 2020 / 6:06 AM / 6 days ago

Norwegian Air plans further capacity cuts in turnaround bid

OSLO, Feb 13 (Reuters) - Norwegian Air will make deeper capacity cuts in 2020 than previously announced as part of its plan to return to profits after three consecutive years of deficit, the budget carrier said on Thursday.

The company posted a fourth-quarter net loss of 1.87 billion Norwegian crowns ($202.03 million), reduced from a year-ago loss of 3 billion but lagging a forecast of a 1.35 billion loss in a Refinitiv poll of analysts. ($1 = 9.2559 Norwegian crowns) (Reporting by Terje Solsvik and Victoria Klesty, editing by Gwladys Fouche)

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