Norwegian Surges After U.S. Approves Trans-Atlantic Expansion
- Stock gains most since 2015 after approval of Irish license
- Opponents say plan creates ‘flag of convenience’ to slash pay
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Norwegian Air Shuttle ASA jumped the most since April 2015 after winning U.S. regulatory approval for an expansion of low-cost flights across the Atlantic that’s opposed by American carriers, unions and politicians alike.
Shares of Norwegian Air rose as much as 14 percent on their first day of trading since the Department of Transportation concluded Friday that the company’s Ireland-based Norwegian Air International arm is fit to serve U.S. destinations.