Shares in Norwegian Air took off on signs that the budget carrier's turnaround is gathering pace. The airline had cut loss-making routes and boosted the income from remaining flights
) turnaround gathered pace last month as the budget carrier removed unprofitable routes from its network and boosted the income from remaining flights, sending its shares up almost 6% in early trade.
Norwegian’s shares traded 4.3% higher at 39.66 crowns by 0839 GMT, but are still down 46% in the last 12 months. Seeking to turn itself around and avoid joining the ranks of collapsed airlines, the company announced in October it would cut its capacity by 10% in 2020 from 2019. Norwegian on average filled 80.9% of seats in January, up from a load factor of 76.1% a year ago and beating an average forecast of 80.6%.
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