Low-cost carrier (LCC) Norwegian Air Shuttle recorded a 2014 loss of NOK1.05 billion ($137 million), reversed from a profit of NOK322 million in 2013. Norwegian said its rapid expansion and investment for further future growth were major factors behind its first annual loss in eight years. Revenue jumped 25% to NOK19.5 billion year-over-year. Passenger numbers were up 16% to 24 million while capacity, measured in ASKs, was up 35%. Load factor rose 3% to 81%. The company has been engaged in a ...

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