October 30, 2018 / 3:17 PM / a year ago

Norwegian to provide update on fleet JV by end of year

LONDON, Oct 30 (Reuters) - Budget airline Norwegian Air plans to provide an update on its proposed fleet joint venture structure before the end of 2018, its chief financial officer said.

Norwegian confirmed last week that it was in advanced talks with an unnamed partner, sending its shares surging.

“Hopefully we will be able to come to the market with more news on that transaction, structure, before the new year,” CFO Geir Karlsen told reporters on Tuesday.

He said that as well as the advanced discussions with one party, there were several other interested parties.

Karlsen also said that Norwegian was very focused on improving its performance over the winter months, typically the most difficult time for European airlines as fewer people fly, and it could take out some under-performing routes.

“You will see us doing changes in the fleet programme for the winter and we are planning to do that very shortly,” he added. (Reporting by Sarah Young; editing by Kate Holton)

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