Norwegian Air posts higher-than-expected income in January

Budget carrier Norwegian Air posted higher-than-expected income from each passenger in January but was less successful in filling its planes, its monthly traffic report showed on Wednesday. The loss-making airline, which has rapidly expanded its transatlantic business, recently announced plans to cut costs and raise cash from owners after IAG, the parent company of BA, abandoned its attempt to buy the firm.

Norwegian's yield, a measure of revenue per passenger carried and kilometres flown, grew to 0.35 Norwegian crowns from 0.32 crowns a year earlier, while analysts had expected an increase to 0.33 crowns. The airline's load factor, a measure of how many seats are sold on each flight, fell to 76.1 percent for the month, missing a forecast of 79.1 percent and down from 82.0 percent a year earlier.

(With inputs from agencies.)