Davy Research

Norwegian Air

Q2 EBITDA beat, driven by improved cost performance
Airlines & Other Transport
Norwegian Air

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.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Norwegian Air

    Closing Price: 23890

  • RATING 01/09/15

  • PREVIOUS RATING 22/01/15

    Underperform

Analyst(S)

COMPANY DATA

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