Growth slows for budget airline Norwegian

Low-cost, long-haul airline Norwegian, which has cut back its Irish routes to the US in recent months, struggled to fill its aircraft in November as capacity growth far outpaced demand.

Shares in the company plunged up to as 14% at one stage, as a loss on fuel hedge contracts also added to the airline’s woes. The company, in which British Airways and Aer Lingus-owner IAG has a small stake, is now valued at €1bn, still up 6% from a year ago.