Norwegian’s traffic figures for January were broadly in line with our expectations. Traffic development declined, while yield growth came in line expectations; with higher-than-expected load factor. At Widerøe, yield was strong, although this was partly offset by a weaker-than-expected load factor, explained by higher production due to a 3.4pp increase in the regularity compared with last year. We expect limited changes to our estimates based on the traffic figures. Accordingly, we see scope for ....