Edition:
United States

Norwegian Air Shuttle ASA (NWC.OL)

NWC.OL on Oslo Stock Exchange

48.93NOK
7:49am EDT
Change (% chg)

kr0.83 (+1.73%)
Prev Close
kr48.10
Open
kr48.18
Day's High
kr49.40
Day's Low
kr46.02
Volume
1,300,150
Avg. Vol
1,440,404
52-wk High
kr184.03
52-wk Low
kr46.00

Latest Key Developments (Source: Significant Developments)

Norwegian Air to compensate MAX shortfall by leasing planes, postpone sales
7:25am EDT 

March 25 (Reuters) - Norwegian Air Shuttle ASA ::UPDATE ON THE TEMPORARY SUSPENSION OF BOEING 737 MAX AIRCRAFT OPERATIONS.IS COMBINING FLIGHTS AND REALLOCATING AIRCRAFT WITHIN ITS OWN NETWORK, KEEPING NUMBER OF CANCELLATIONS AT A MINIMUM AND MINIMIZING IMPACT ON CUSTOMERS.REMAINS IN CLOSE DIALOGUE WITH EUROPEAN AVIATION AUTHORITIES AND FOLLOW THEIR INSTRUCTIONS AND RECOMMENDATIONS.HAS DECIDED TO DELAY POTENTIAL SALES OF SIX BOEING 737-800 AIRCRAFT AND USE AVAILABLE 787 DREAMLINER CAPACITY ON HIGH-VOLUME ROUTES, WHICH WILL ADD FLEXIBILITY.COMPANY IS FURTHER PREPARING TO WETLEASE AIRCRAFT TO FILL REMAINING CAPACITY GAP.COMPANY HAS A GOOD DIALOGUE WITH BOEING AND IS CONFIDENT TO REACH A CONSTRUCTIVE AGREEMENT.  Full Article

Norwegian Air to deploy Dreamliner as replacement for MAX on Dublin-New York flights
Wednesday, 13 Mar 2019 08:18am EDT 

March 13 (Reuters) - Norwegian Air Shuttle ASA ::NORWEGIAN AIR SAYS TO OPERATE BOEING 787 DREAMLINER FROM DUBLIN IN RESPONSE TO SUSPENDED 737 MAX OPERATIONS.NORWEGIAN AIR SAYS WILL TEMPORARILY DEPLOY A BOEING 787-9 DREAMLINER TO OPERATE U.S. FLIGHTS FROM DUBLIN AIRPORT TO SUPPORT AFFECTED CUSTOMERS.NORWEGIAN AIR SAYS CUSTOMERS BOOKED ON AFFECTED TRANSATLANTIC ROUTES TO AND FROM IRELAND SERVICED BY THE 737 MAX WILL BE REBOOKED ONTO FLIGHTS USING THE 787-9 DREAMLINER.THE 787 DREAMLINER, REGISTERED G-CKWF WITH CHARLES LINDBERGH ON THE AIRCRAFT TAIL, WILL OPERATE THE DUBLIN-NEW YORK STEWART (SWF) ROUTE DAILY.  Full Article

Norwegian Air CEO Bjoern Kjos, associates to own 18.5 pct stake in company
Monday, 11 Mar 2019 10:06am EDT 

March 11 (Reuters) - Norwegian Air Shuttle ASA ::FOLLOWING ISSUANCE OF NEW SHARES IN RIGHTS ISSUE, HBK HOLDING AS WILL OWN 23,200,578 SHARES IN COMPANY, REPRESENTING 17.0% OF SHARES.HBK HOLDING AS, 84.6% OWNED BY BJØRN KJOS, CHIEF EXECUTIVE OFFICER (THROUGH NYE OBSERVATORIET INVEST AS), AND 9.1% OWNED BY BJØRN HALVOR KISE, CHAIRMAN OF THE BOARD (THROUGH NYE BRUMM AS).BJØRN KJOS AND HIS CLOSE ASSOCIATES WILL OWN 25,274,061 SHARES IN COMPANY, REPRESENTING 18.5% OF SHARES.  Full Article

Norwegian Air: no allocation of shares without subscription rights
Monday, 11 Mar 2019 06:49am EDT 

March 11 (Reuters) - Norwegian Air Shuttle ASA ::FINAL ALLOCATION OF OFFER SHARES IN RIGHTS ISSUE HAS NOW BEEN COMPLETED BASED ON ALLOCATION CRITERIA.NO ALLOCATION HAS BEEN MADE TO SUBSCRIBERS WITHOUT SUBSCRIPTION RIGHTS.  Full Article

Norwegian Air aims to raise cash from owners at NOK 33/share
Monday, 18 Feb 2019 07:27am EST 

Feb 18 (Reuters) - Norwegian Air Shuttle ASA ::SHARE CAPITAL OF COMPANY IS PROPOSED TO BE INCREASED BY NOK 9,087,131.80 THROUGH ISSUANCE OF 90,871,318 NEW SHARES, REPRESENTING A RATIO OF TWO OFFER SHARE PER EXISTING SHARE..SUBSCRIPTION PRICE IS PROPOSED TO BE NOK 33.00 PER OFFER SHARE, REPRESENTING A DISCOUNT OF APPROXIMATELY 39.4% TO THEORETICAL SHARE PRICE EXCLUSIVE OF SUBSCRIPTION RIGHTS (TERP) OF NOK 54.45 BASED ON COMPANY'S CLOSING SHARE PRICE ON OSLO STOCK EXCHANGE OF NOK 97.34 ON 15 FEBRUARY 2019..BASED ON SAME CLOSING PRICE, THEORETICAL VALUE OF EACH SUBSCRIPTION RIGHT IS NOK 21.45 AND THEORETICAL VALUE OF TWO (2) SUBSCRIPTION RIGHTS RECEIVED PER EXISTING SHARE IS NOK 42.90.SHAREHOLDERS MUST DECIDE WHETHER TO EXERCISE OR SELL THEIR SUBSCRIPTION RIGHTS, OR A COMBINATION THEREOF, TO MAINTAIN FULL VALUE OF SHAREHOLDING..RIGHTS ISSUE WILL RESULT IN GROSS PROCEEDS TO COMPANY OF APPROXIMATELY NOK 3 BILLION.EACH EXISTING SHAREHOLDER WILL BE GRANTED TWO SUBSCRIPTION RIGHTS FOR EVERY EXISTING SHARE REGISTERED AS HELD BY SHAREHOLDER ON 21 FEBRUARY 2019 ( RECORD DATE).EACH SUBSCRIPTION RIGHT WILL, SUBJECT TO APPLICABLE SECURITIES LAWS, GIVE RIGHT TO SUBSCRIBE FOR AND BE ALLOCATED ONE OFFER SHARE IN RIGHTS ISSUE.RIGHTS ISSUE EXPECTED TO TAKE PLACE FROM 22 FEBRUARY 2019 TO 8 MARCH 2019 AT 16:30 CET.DNB MARKETS, A PART OF DNB BANK ASA, IS ACTING AS SOLE GLOBAL COORDINATOR AND JOINT BOOKRUNNER FOR RIGHTS ISSUE.  Full Article

Norwegian Air: HBK Holding sells subscription rights to share issue
Monday, 18 Feb 2019 01:00am EST 

Feb 18 (Reuters) - Norwegian Air Shuttle ASA ::HBK HOLDING AS SELLS SUBSCRIPTION RIGHTS IN THE RIGHTS ISSUE.HBK HOLDING AS SELLS SUBSCRIPTION RIGHTS IN THE RIGHTS ISSUE.HBK HAS AGREED TO SELL SUBSCRIPTION RIGHTS AT A PRICE OF 70% OF THEORETICAL VALUE OF SUBSCRIPTION RIGHTS AT TIME OF PRICING OF RIGHTS ISSUE, EXPECTED ON OR ABOUT 18 FEBRUARY 2019.BUYERS HAVE COMMITTED TO A TOTAL INVESTMENT AMOUNT OF NOK 500 MILLION INCLUDING PURCHASE OF SUBSCRIPTION RIGHTS AND SUBSCRIPTION IN RIGHTS ISSUE.NUMBER OF SUBSCRIPTION RIGHTS TO BE SOLD WILL BE DETERMINED BASED ON SUBSCRIPTION PRICE AND NUMBER OF NEW SHARES TO BE ISSUED IN RIGHTS ISSUE.BUYERS OF SUBSCRIPTION RIGHTS HAVE COMMITTED TO SUBSCRIBE FOR SUBSCRIPTION RIGHTS THAT THEY ACQUIRE IN RIGHTS ISSUE.AGREEMENT IS SUBJECT TO EXTRAORDINARY GENERAL MEETING ON 19 FEBRUARY 2019 APPROVING CONTEMPLATED RIGHTS ISSUE.HBK CURRENTLY OWNS 11,204,809 SHARES IN COMPANY, REPRESENTING 24.66% OF SHARES OF COMPANY.  Full Article

Norwegian Air cuts 2019 capex guidance by $200 mln
Thursday, 7 Feb 2019 02:00am EST 

Feb 7 (Reuters) - Norwegian Air Shuttle ASA ::NO ACQUISITION DISCUSSIONS ARE CURRENTLY ONGOING.THE BOARD WILL CONTINUE TO BE WILLING TO ENGAGE IN CONSOLIDATION DISCUSSIONS TO CREATE SHAREHOLDER VALUE.2019 CAPEX GUIDING IS REDUCED BY USD 200 MILL SINCE Q3 PRESENTATION.NORWEGIAN AIR SEES NOK 7.7 BILLION POSITIVE IMPACT ON LIQUIDITY IN 2019 FROM SHARE ISSUE, AIRCRAFT DIVESTMENT, COST CUTS, POSTPONED DELIVERIES.NORWEGIAN AIR SAYS FULLY UNDERWRITTEN NOK 3 BILLION RIGHTS ISSUE TO BE COMPLETED DURING Q1.NORWEGIAN AIR SEES 2019 CAPEX AT $2.0 BILLION VERSUS $2.2 BILLION SEEN IN OCT.NORWEGIAN AIR SAYS FUEL HEDGING STANDS AT 52 PERCENT OF H1 2019 AT $681, 22 PERCENT OF FY 2019 AT $680.NORWEGIAN AIR ESTIMATES 2019 UNIT COST REDUCTION OF 5 PERCENT.NORWEGIAN AIR SAYS BASED ON CURRENT FORECAST, THE COMPANY TARGETS A POSITIVE NET PROFIT IN 2019, SUBJECT TO MARKET CONDITIONS.NORWEGIAN AIR SAYS CURRENT BOOKINGS INDICATE A SLIGHT RASK DECLINE IN FEBRUARY.NORWEGIAN AIR SAYS EASTER EFFECT RESULTS IN SOFTER MARCH AND STRONGER APRIL, BUT THE AGGREGATE CURRENT BOOKINGS FOR THESE TWO MONTHS IN LINE WITH LAST YEAR.NORWEGIAN AIR SAYS LONG HAUL CURRENTLY DEVELOPING BETTER THAN SHORT HAUL.NORWEGIAN AIR SAYS CURRENTLY NOT SEEING ANY BREXIT EFFECTS ON BOOKINGS, PREPARING FOR NO-DEAL BREXIT.NORWEGIAN AIR SAYS EXPECT DOMESTIC ARGENTINIAN OPERATION TO BE PROFITABLE FROM Q2 2019.  Full Article

Norwegian Air to delay delivery of 16 aircraft from Boeing and Airbus
Wednesday, 6 Feb 2019 08:00am EST 

Feb 6 (Reuters) - Norwegian Air Shuttle ASA ::POSTPONEMENT OF DELIVERY OF 16 AIRCRAFT.ARCTIC AVIATION ASSETS, A SUBSIDIARY OF NORWEGIAN AIR SHUTTLE ASA, HAS SIGNED AN AGREEMENT WITH BOEING COMMERCIAL AIRPLANES FOR POSTPONEMENT OF 12 BOEING 737 MAX AIRCRAFT FROM 2020 TO 2023 AND 2024.POSTPONEMENT IS EXPECTED TO REDUCE COMPANY'S CAPITAL EXPENDITURE COMMITMENTS RELATED TO PRE-DELIVERY PAYMENTS IN 2019.ADDITIONALLY, CAPITAL EXPENDITURES FOR 2020 WILL BE SIGNIFICANTLY REDUCED.ARCTIC AVIATION ASSETS HAS FURTHER SIGNED AN AGREEMENT WITH AIRBUS S.A.S. FOR POSTPONEMENT OF FOUR AIRBUS 321LR AIRCRAFT FROM 2019 TO 2020.POSTPONEMENT IS EXPECTED TO REDUCE COMPANY'S CAPITAL EXPENDITURE COMMITMENTS IN 2019.POSTPONEMENTS ARE IN LINE WITH COMPANY'S STRATEGY OF CAPITALIZING ON SCALE BUILT UP OVER LAST FEW YEARS AND CHANGED FOCUS FROM GROWTH TO PROFITABILITY.  Full Article

Norwegian Air sold 2 aircraft
Tuesday, 5 Feb 2019 02:04am EST 

Feb 5 (Reuters) - Norwegian Air Shuttle ASA ::SALE OF TWO A320NEO AIRCRAFT.HAS SIGNED AN AGREEMENT FOR SALE OF TWO AIRBUS 320NEO AIRCRAFT.AIRCRAFT ARE CURRENTLY LEASED OUT AND THUS NOT OPERATED BY COMPANY.DELIVERY WILL TAKE PLACE DURING FEBRUARY 2019. TRANSACTION IS EXPECTED TO INCREASE COMPANY'S LIQUIDITY BY USD 26 MILLION AFTER REPAYMENT OF DEBT AND HAVE A POSITIVE EQUITY EFFECT.SALE PROCEEDS WILL BE USED TO REPAY DEBT AND TO INCREASE COMPANY'S LIQUIDITY.SALE IS IN LINE WITH COMPANY'S STRATEGY OF CAPITALIZING ON SCALE BUILT UP OVER LAST FEW YEARS AND CHANGED FOCUS FROM GROWTH TO PROFITABILITY.  Full Article

Norwegian Air CFO: process to establish aircraft fleet joint venture still ongoing
Tuesday, 29 Jan 2019 04:51am EST 

Jan 29 (Reuters) - Norwegian Air Shuttle CFO Geir Karlsen told a conference call::NORWEGIAN AIR CFO SAYS EVALUATING WAYS TO CUT CAPEX.NORWEGIAN AIR CFO SAYS FLEET JOINT VENTURE PROCESS STILL ONGOING.NORWEGIAN AIR CFO SAYS AIM IS TO RAISE ENOUGH EQUITY TO ALSO REPAY BONDS MATURING THIS YEAR AND NEXT YEAR.NORWEGIAN AIR CFO SAYS WILL CONTINUE TO SELL OFF AIRCRAFT GOING FORWARD.NORWEGIAN AIR CFO SAYS SAYS TARGET IS TO GENERATE POSITIVE CASH FLOW ON 12-MONTH ROLLING BASIS.NORWEGIAN AIR CFO SAYS HAS "VERY GOOD DIALOGUE" ON POTENTIAL FLEET JOINT VENTURE, BUT IMPOSSIBLE TO GIVE GUARANTEES A DEAL WILL BE MADE.NORWEGIAN AIR CFO SAYS INTERNAL COST SAVING TARGET IS LARGER THAN WHAT WE'VE COMMUNICATED EXTERNALLY.  Full Article

Photo

Norwegian to lease planes, postpone sales after grounding of Boeing MAX

OSLO Norwegian Air will lease planes and postpone the sale of older models in its fleet following the grounding of Boeing 737 MAX aircraft, the airline said on Monday.