The disappearance of Norwegian would be bad news for consumers

IN THE 1960S long-haul air travel was a glamorous but expensive proposition. Then in the 1970s Sir Freddie Laker, a British entrepreneur, set about trying to open it up to the masses. In 1977 he launched Skytrain, the first low-cost, long-haul service between London and New York. Within only five years Laker Airways went bust. Recently another European entrepreneur, Bjorn Kjos of Norwegian, hoped to succeed where Laker failed and in 2013 he relaunched low-cost flights across the Atlantic. It looks as if Norwegian may suffer the same fate as Laker Airways.

Norwegian’s finances have been in a bad way since it embarked on its new project. As an airline mainly flying domestic and short-haul routes in Scandinavia, in 2013 it made an annual operating profit of NKr970m ($166m). On February 7th Norwegian said it had made operating losses of NKr3.85bn in 2018, during which almost half of its flights were on long-haul routes....



via Business Feeds

0 nhận xét:

Post a Comment