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Norwegian Air Says Liquidity Is ‘Satisfactory’ as It Cuts Costs

Nordic company said Monday it’s adjusted capacity, cut costs
Company has been hit by higher fuel prices, Gatwick upheaval

A Boeing Co. 737 passenger aircraft, operated by Norwegian Air Shuttle ASA, takes off at London Gatwick Airport in Crawley, U.K., on Tuesday, Jan. 10, 2017. Norwegian attracted 29.3 million passengers last year, a 14 percent increase that's likely to put it ahead of SAS AB's Scandinavian Airlines for the first time. — Photographer: Simon Dawson/Bloomberg

By

Andrew Marc Noel and

December 24, 2018, 11:11 AM UTCUpdated onDecember 24, 2018, 2:20 PM UTC

Norwegian Air Shuttle ASA took pains to reassure investors about the solidity of its cash position and plans to sell aircraft and cut costs as disruptions in the debt-laden budget carrier’s long-haul flights add to difficulties during the traditionally slow winter season.

“To meet the competitive environment in a period with seasonally lower demand in Europe, the company has made several changes to its route portfolio as well as adjusted its capacity,” Norwegian said in a statement Monday. “These measures should improve the financial performance from the start of 2019.”