Norwegian Air stock drops 5.4% as Q4 profit falls short of expectations

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Investing.com – On Friday, Norwegian Air Shuttle’s stock price fell 5.4% after the low-cost airline reported fourth-quarter operational results that missed expectations due to rising costs.

The airline reported a fourth-quarter operating profit of 21 million Norwegian kroner ($2.2 million), well below the consensus estimate of 201 million kroner.

The disappointing performance was attributed to higher-than-expected costs for the quarter, which, despite adopting a budget-oriented business model, still put pressure on the airline’s profitability.

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