Norwegian airline Norwegian falls by just over eight percent on the Oslo Stock Exchange as a result of weak passenger statistics for the month of November.
The cabin factor, which indicates how well-filled the planes were, was 78.8 percent, the company's lowest since May 2014 and far below analysts' expectations, which according to Reuters were 82.7 percent.
”"We have several routes from the summer program that have been extended through November, which affects the cabin factor. We will not have a complete transition to the winter program until January after the Christmas traffic is completed," writes Norwegian NAS -15,36%s CEO Bjørn Kjos in a press release.
However, traffic growth according to the RPK measure, i.e., revenue passenger kilometers, was also disappointing. Although it rose by 26 percent, analysts had expected 33.7 percent.
”"Overall, these are weak numbers," writes Danske Bank analyst Martin Stenshall in a market letter to the bank's customers.
Overall, during the month of November, 14 percent more passengers traveled with the airline than in the same period the previous year, but the company writes that the figures are affected by the fact that a number of new flight routes were launched during the period.
Punctuality during the period was 82.5 percent, an increase of 2.3 percentage points.
Source: TT
