|Bid||21.91 x 6100|
|Ask||22.03 x 128200|
|Day's Range||21.70 - 25.65|
|52 Week Range||21.70 - 526.00|
|Beta (5Y Monthly)||1.31|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul. 15, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||224.45|
Budget airline Norwegian Air expects demand for European short-haul travel to return to pre-pandemic levels in 2023 or 2024, it said as it presented a first-quarter pretax loss of 1.19 billion crowns ($145 million) on Thursday. "It is not expected that demand for short-haul travel in Europe will return to 2019 levels before 2023 or 2024 and so Norwegian will deploy capacity back into the market at a pace that matches this," the airline said in a statement. Financed largely by debt, Norwegian Air grew rapidly as it served routes across Europe and to North and South America, Southeast Asia and the Middle East before the COVID-19 pandemic plunged the airline into crisis.
Norwegian Air now aims to raise up to 6 billion crowns ($711 million) in fresh capital, up from a planned 4.5 billion, to bolster its resources before emerging from bankruptcy protection next month as the pandemic continues to curb travel. Financed largely by debt, Norwegian Air grew rapidly, serving routes across Europe and flying to North and South America, Southeast Asia and the Middle East before the COVID-19 pandemic plunged the airline into crisis. "We want to take a conservative approach at a time when the pandemic and travel restrictions continue to create unpredictability in the travel sector," Chief Executive Jacob Schram said in a statement on Wednesday.
WASHINGTON (Reuters) -The chairman of the U.S. House Transportation and Infrastructure Committee on Wednesday urged the Biden administration to deny a permit for a new low-cost Norwegian carrier to enter the domestic market. Representative Peter DeFazio, in a statement released ahead of a hearing Thursday, urged Transportation Secretary Pete Buttigieg to deny Norse Atlantic permission to enter the U.S. market. Last week, Reuters reported the budget airline planned to fly from U.S. destinations such as New York, Los Angeles and Miami to European cities including London, Paris and Oslo, with a goal of launching its first flight in December this year.