Norwegian Sticks with Plans to Slow Growth

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Following several years of double-digit increases in capacity, including an unprecedented 37 percent hike in output measured in available seat kilometers in 2018, Norwegian Air Shuttle is moving ahead with plans to slow growth and trim costs to strengthen its financial performance.

“We have adjusted and optimized our route portfolio and the capacity going forward. We have also made seasonal adjustments for the winter”, Norwegian CEO Bjørn Kjos said on Monday, confirming the company “will now enter a period of slower growth”.

The rapid global expansion also led to a weakening of its financial footing, prompting the company to initiate the sale of its leasing arm to reduce debt.

Collected and summarized from the source below by Ta Ngoc Diep: