Norwegian Air

Q2 EBITDA beat, driven by improved cost performance

  • Sectors : Airlines & Other Transport
  • Companies : Norwegian Air

Ratings and price correct at time of issue.

  • Norwegian Air

    Closing Price: 23890

  • RATING 01/09/15

  • PREVIOUS RATING 22/01/15

    UNDERPERFORM

DAVY VIEW

Our long-standing concern about the Norwegian business model was that despite double-digit growth through 2016, 2017 and early 2018, it was not achieving any meaningful scale efficiencies. While we will look for follow-up improvement over the following quarters, this cost-led EBTIDA beat for Q2 is an encouraging sign. We expect that the stock price, however, will continue to largely reflect the likelihood of an acquisition.

Download full report with analyst certification and important disclosures

Jul 12 2018, 08:00 IST/BST

Download