Norwegian Air Shuttle (Buy, TP: NOK9.00) - December traffic statistics preview
Norwegian Air Shuttle is due to report its December traffic statistics on 5 January. We expect a slight improvement in yield from November and production on par. We have lowered our 2022–2023e EBITDA 5–4% ahead of the report, having updated our forecasts for a weaker than expected November yield and risk of delays to the delivery of the 737 Maxes in 2023. We reiterate our BUY, but have lowered our target price to NOK9 (10). We continue to believe that Norwegian Air Shuttle stands out as a relative winner in a market where all its key competitors are fighting for survival.Norwegian Air Shuttle is a low cost passenger travel airline. Co. operates both scheduled services and additional charter services. Co. has aircraft bases in Norway, Sweden, Denmark, Finland, Spain and the U.K.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.