We maintain our Buy recommendation and raise our target price to NOK 18.5 (from 17.5), reflecting a strong outlook for Norwegian. Operations remain solid with high punctuality and efficiency, while costs are well managed within controllable areas. Air travel demand is resilient, and capacity growth is likely to be broadly in line with demand through 2026–2028, supporting healthy load factors and stable yields. Yield will also benefit from a growing share of business travellers. The competitive l ....
