Finance
Norwegian Air Cuts 2024 Operating Profit Forecast
Published by Global Banking & Finance Review®
Posted on January 24, 2025
1 min readLast updated: January 27, 2026
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Global Banking & Finance Review®
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Published by Global Banking & Finance Review®
Posted on January 24, 2025
1 min readLast updated: January 27, 2026
Add as preferred source on GoogleNorwegian Air lowers its 2024 profit forecast to 1.85 billion crowns due to a weaker Norwegian crown, causing a 7% share drop.
HELSINKI (Reuters) -Budget airline Norwegian Air cut its operating profit outlook for 2024 on Monday, citing a negative impact from the weakening of the Norwegian crown currency against the dollar.
The airline now expects its full-year operating profit to be around 1.85 billion Norwegian Crowns ($161.04 million), compared to its previous outlook from October of between 2.1 billion and 2.4 billion.
Shares fell around 7% in early trade on Oslo's stock exchange.
"The deterioration is predominately the result of balance sheet adjustments relating the weakening of the NOK against the USD during the fourth quarter," it said in a statement.
Norwegian Air will publish its full-year earnings on Feb. 13.
($1 = 11.4877 Norwegian crowns)
(Reporting by Essi Lehto, editing by Stine Jacobsen and Louise Rasmussen)
The main topic is Norwegian Air's revised 2024 operating profit forecast due to currency fluctuations.
The forecast was cut due to the weakening of the Norwegian crown against the US dollar.
Shares of Norwegian Air fell around 7% on the Oslo stock exchange.
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