Norse Atlantic Airways has taken a beating from investors after it admitted late bookings were affecting cash flow and ticket prices had been lower than expected.
Norse Atlantic has been forced to lease out some of its fleet to try to achieve profitability
The transatlantic start-up, which is quoted on the Oslo stock exchange, saw its share price almost halve on Tuesday (2 July) following a trading update, which also detailed how talks to secure an airliner partner had collapsed.
Shares were trading on Wednesday (3 July) at below four Norwegian krona (£0.30), compared to NOK 21 (£1.55) a year ago.
The carrier said a “tail-heavy” summer booking curve “puts pressure on August cash position while awaiting credit card receivables being collected”.
Get unlimited access to the latest travel industry news and analysis, comment on articles and sign up to newsletters.
Register for free
Already registered? Login here or below.
Having difficulty logging in? Try these tips, or contact support@ttgmedia.com
