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Norwegian Air Shuttle ASA/Nkr NAS

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About Norwegian Air Shuttle ASA

Norwegian Air Shuttle ASA is a Norwegian low-cost airline headquartered in Fornebu, Norway. It operates a short-haul network across Europe, with a focus on the Nordic region, offering affordable flights primarily through its brand Norwegian. The company also runs long-haul operations under the Norwegian Long Haul brand. Established in 1993, Norwegian Air Shuttle has expanded its services over the years to include a modern fleet of Boeing 737 aircraft. Its competitive strengths include an extensive route network within Europe and a focus on operational efficiency that supports its low-cost strategy. The airline has faced various challenges and restructuring over time, adapting its business model in response to market conditions and competitive pressures.
Ticker
Nkr NAS
Sector
Mobility
Primary listing
XOSL
Employees
7,672
Headquarters
Fornebu, Norway
Website
www.norwegian.com

NAS Metrics

BasicAdvanced
kr 12B
13.08
kr 0.86
-
kr 0.80
7.09%

What the Analysts think about NAS

Analyst ratings (Buy, Hold, Sell) for Norwegian Air Shuttle ASA stock.
Analyst projections of the future price of Norwegian Air Shuttle ASA stock.

Bulls say / Bears say

September traffic grew 7% year on year against 6% capacity growth, lifting the load factor to 87.1%; management also reported promising winter bookings. That suggests demand is absorbing added seats rather than relying solely on capacity growth. (Investing.com)
Program X is on track to deliver more than NOK 1.25 billion in annual recurring profit improvements, and Norwegian expects full-year unit costs excluding fuel to be unchanged from 2025. If delivered, that would help protect margins as the airline grows. (Norwegian)
The planned NLTG acquisition would add package holidays and hotels to Norwegian’s airline offering. This could help the group capture more travel spending than it can from selling seats alone. (Norwegian)
Q2 exposed earnings sensitivity to shocks: group EBIT was a NOK 603 million loss, fuel costs rose 33% year on year and Norwegian booked a NOK 733 million charge after losing its EU ETS case. (Norwegian)
Revenue quality weakened in Q2: unit revenue fell 5% and Norwegian’s load factor dropped 2.7 percentage points to 82.5%, while capacity grew 5% but passenger numbers rose only 3%. That points to pressure on fares and seat occupancy as capacity expands. (Norwegian)
The financial buffer is not unlimited: the equity ratio fell to 14.2% from 19.1% a year earlier, while net interest-bearing debt rose to NOK 5.264 billion from NOK 4.362 billion in the previous quarter. A prolonged downturn could therefore leave less room to absorb further shocks. (Norwegian)
Data summarised monthly by Lightyear AI. Last updated on 19 Oct 2026.

NAS Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

NAS Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise

Funds containing NAS

AllUSDEUR
Funds
Fund name
Fund size
Nkr NAS weighting
Xtrackers MSCI Europe Small Cap£XXSC
$3.6B0.04%
Xtrackers MSCI Europe Small Cap€DX2J
$3.6B0.04%
iShares MSCI World Small Cap£WLDS
$9B0.01%
iShares MSCI World Small Cap$WSML
$9B0.01%
iShares MSCI World Small Cap€IUSN
$9B0.01%
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by CBOE Europe and Deutsche Börse.