Norwegian Air cuts full-year outlook, shares fall
Adds share reaction
COPENHAGEN, July 4 (Reuters) -Norwegian Air NAS.OL lowered its annual profit outlook on Thursday citing lower-than-expected second-quarter demand and aircraft delivery delays from Boeing <BA.N>, knocking its shares.
The airline said the delays had forced Norwegian to source external capacity. A higher-than-projected wage settlement for pilots and negative currency effects also weighedon the outlook.
It said it now expectsan operating profit of 2.1 billion to 2.6 billion crowns ($199-246 million) against anApril forecast of 2.5-3.2 billion and a year-ago result of 2.2 billion. The newforecast includes regional carrier Wideroe, which it boughtin January.
Norwegian Air shares were down 16% at 0742GMT against a flatOslo benchmark index .OSEBX
($1 = 10.5558 Norwegian crowns)
Reporting by Louise Breusch Rasmussen; editing by Anna Ringstrom, Christina Fincher and Jason Neely
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