Adds quotes, background
Adds quotes, background
OSLO, Dec 4 (Reuters) – Loss-making finances airline Norwegian Air NWC.OL stated on Wednesday it’s promoting its Argentinian subsidiary Norwegian Air Argentina (NAA) to JetSMART Airways for an undisclosed sum.
JetSMART will assume the NAA operation with rapid impact, the agency stated in a press release.
“Attaining passable profitability for a comparatively small home operation has proved tough to realize, given the general state of affairs within the nation,” Norwegian Air’s performing Chief Govt Geir Karlsen stated.
Norwegian has switched this 12 months from speedy development to price cuts, trimming its sprawling community in a bid to stem losses and protect money.
The corporate stated JetSMART will proceed to function scheduled flights from the Buenos Aires Aeroparque airport, with the Norwegian model anticipated to be phased out within the home Argentinian community over a number of months.
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