September traffic statistics
Norwegian Air Shuttle is set to report its September traffic statistics at 08:00 CET on 5 October. We expect a positive yield trend supported by easy comparables, limited FX effects, and a boost from the SAS strike. However, we reiterate our SELL recommendation and NOK170 target price as we still find the valuation unattractive in light of Norwegian Air Shuttle’s high operational and financial risk.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.
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