Norwegian Air slashed November traffic to stem losses

Budget carrier Norwegian Air sharply curtailed its flight program last month, removing unprofitable routes in a bid to stem the company's losses, its traffic report showed on Thursday.

The airline's overall capacity, a measure of distance flown and the number of seats available (ASK), declined by 27% year-on-year, it said. Analysts in a Reuters poll had on average expected a 23% fall.

The move allowed Norwegian to better fill remaining flights, raising the number of seats sold on each aircraft and boosting its yield - income per passenger carried and kilometer flew - by 12% to 0.37 crown, beating a 0.35 crown forecast.