UPDATE 1-Norwegian Air says size matters when it comes to profits [Reuters]
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Source: Reuters
Norwegian Air says size matters when it comes to profits | Reuters 2 Min Read BRUSSELS (Reuters) - Norwegian Air Shuttle ( NWC.OL ) is reaching a size at which it can be profitable, its founder and CEO said on Tuesday, while reiterating that he will not block a sale of the budget carrier if other shareholders want out. Both British Airways owner IAG ( ICAG.L ) and Lufthansa ( LHAG.DE ) have been in contact with Norwegian over a possible deal. After the failures of Air Berlin and Monarch last year, airline executives have predicted more consolidation this year in Europe. CEO Bjorn Kjos said that Norwegian was reaching the peak of its investment phase this summer and was ready to reap the benefits. “We have reached the size that we need to facilitate what we would like to do. Now it’s about refining the business going forward,” Kjos told an annual conference of airports association ACI. In March, the airline raised 1.3 billion crowns in a share sale to help fund expansion and cope
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