Norwegian Air appoints Jacob Schram as CEO

Loss-making Norwegian Air has appointed a new chief executive to take charge of the budget carrier's ongoing restructuring, the board said on Wednesday.

Jacob Schram, who joins Norwegian from being an advisor at McKinsey, replaces Bjoern Kjos, the company's founder who stepped down in July after building the carrier into Europe's third-largest budget airline.

Interim CEO Geir Karlsen will continue as deputy CEO and Chief Financial Officer.