Norwegian Air Shuttle, the budget carrier which has received takeover approaches from British Airways-owner International Consolidated Airlines Group PLC (LON:IAG), has reported higher-than-expected growth in capacity and passenger traffic in May.
The Oslo-listed airline, which is rapidly expanding its long-haul business across the Atlantic, also said its income per customer was in line with forecasts despite falling year-on-year.
READ: IAG reportedly plans to offer €1.52bn for Norwegian Air Shuttle
The Norwegian firm saw its revenue-generating passenger kilometres (RPK) grow by 51% year-on-year in May, above analysts' consensus for around 48.8%, according to Reuters.
In a statement, Norwegian Air’s chief executive Bjoern Kjos said: "Even with strong capacity growth, the demand is high."
"Our strategy has been to build a strong, competitive company, and going forward we will reap what we have sown for the benefit of our customers, dedicated staff and shareholders.”
On May 21, Spanish newspaper Expansion reported that IAG was planning to offer €1.52bn for Norwegian following two unsuccessful approaches to the airline, although no bid has been forthcoming.
That report came after IAG had said a week earlier that it was not expecting to announce a bid to buy Norwegian soon and ruled out a hostile offer.
In April, IAG disclosed that it had bought a 4.61% stake in Norwegian, with a view to make a full offer for the airline.