The airline reported a fourth-quarter loss that was larger than analysts had expected and its own cash decreased. The stock fell more than seven percent in early trading on the Oslo Stock Exchange.

Norwegian NAS -4.96% turned a profit of 197 million Norwegian kroner the previous year into a loss of 919 million kroner after tax in the fourth quarter of 2017.

For the full year 2017, the company reported a net loss of SEK 299 million, compared with a profit of SEK 1.1 billion the previous year.

”"We are not at all satisfied with the results for 2017," CEO Bjørn Kjos writes in a statement.

Source: TT