Norwegian Air Shuttle issues outlook for 2017

Norwegian Air Shuttle issued (26-Oct-2017) the following outlook for 2017:

• Demand and advance bookings are "satisfactory" entering 4Q2017;
• The group plans to continue taking advantage of its "increasing competitive power", realised through continuous cost efficiency and from introducing larger aircraft with a lower operating cost;
• Norwegian guides for ASK growth of 25% for 2017. The growth in Boeing 737 capacity comes from adding 737-800s and 737 MAX aircraft. In addition, Norwegian plans to have 21 787 aircraft by the end of 2017. Norwegian confirmed it may decide to adjust capacity in order to optimise the route portfolio depending on the development in the overall economy and in the marketplace;
• The company is targeting a unit cost of approximately NOK0.42 (EUR0.044) for 2017, assuming a fuel price of USD500 per ton, USD/NOK8.25 and EUR/NOK9.00 (excluding hedged volumes) and with the currently planned route portfolio;
• Expected CAPEX for 2017 is USD700 million, unchanged from the previous guiding. [more - original PR]