Budget airline Norwegian has blamed “significant costs” including its rapid expansion, fuel price rises and leasing costs for its plunge into the red in 2017.
The carrier made a net loss of £27.4 million in the calendar year, compared to a profit of £104 million in 2016. In the final quarter of 2017, the airline lost £84 million, compared to last year’s profit of £18 million.
The carrier said “major investments” had been made in 2017 to “prepare for future growth” and blamed “significant costs related to increased fuel prices, wet lease and passenger care”.
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