Why Norwegian Air is failing
In his 2018 end-of-year letter to Norwegian Air shareholders, co-founder and then-CEO Bjørn Kjos made some bold predictions for his low-cost, long-haul airline. Since the start of 2019, the airline has hit a near-constant spell of turbulence, including the surprise resignation of its CEO, the axing of key transatlantic routes, and multiple analyst downgrades. With the company’s share price now down more than 75% from a year earlier, shareholders may be eyeing up the emergency exits.
