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Earnings

Norwegian Air third-quarter profit beats forecast

FILE PHOTO: Passengers walk towards a Norwegian aircraft in Malaga-Costa del Sol airport in Malaga, southern Spain February 10, 2019. REUTERS/Jon Nazca

OSLO (Reuters) - Norwegian Air NWC.OL posted higher-than-expected earnings for the peak summer holiday season on Thursday, a boost for the carrier as it seeks to shore up its finances.

Net profit for the third-quarter came in at 1.67 billion Norwegian crowns ($183 million) while analysts in a Refinitiv poll on average forecast a profit of 1.47 billion, up from a profit of 1.30 billion crowns in the year-ago period.

In another boost for Norwegian, it announced earlier on Thursday, it had signed a deal with China’s CCB Leasing to take joint ownership of a large fleet of aircraft, thus reducing its debt and increasing its equity.

Reporting by Victoria Klesty, editing by Terje Solsvik

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