BUZZ-Norwegian Air shares slips on missed Q3 earnings

** Norwegian Air Shuttle drops 2 pct after worse than expected Q3 earnings.

** Shares (Berlin: DI6.BE - news) in the budget airline opened down 5.7 pct.

** Q3 operating profit before leasing and depreciation 1.22 bln Norwegian crowns, lagging expectations for 1.31 bln crowns in a Reuters poll of analysts.

** "Overall, the Q3 report was weaker than expected and 2014 unit cost guidance lifted," Arctic Securities analyst Kenneth Sivertsen writes in a research note.

** "Additionally, guidance for 2015 was mixed and hence FY 2015 estimates are likely to come down as well," Sivertsen says, adding that Arctic Securities are likely to cut their estimates and look into the company's cost assumption.

** Shares in peer Ryanair are up 1.1 pct, easyJet is up 1.5 pct. (RM (LSE: RM.L - news) : stine.jacobsen.thomsonreuters.com@reuters.net)