Norwegian Air has had positive meetings with plane manufacturer Boeing after its 737 Max 8 model was grounded across the globe last month.
Norwegian’s 162-strong fleet includes 18 of Boeing’s 737 Max 8 model, which aviation authorities across the globe have grounded, after it suffered its second fatal crash in five months.
Chief executive Bjorn Kjos tweeted this morning: “We have had some good meetings with Boeing today discussing the grounding of the MAX and how we can maneuver through this difficult situation.”
Shares rose 3.5 per cent in morning trading.
The embattled airline last month said it would seek compensation from plane maker Boeing for lost revenue and extra costs arising from the worldwide flight ban on the US manufacturer’s latest jet.
Norwegian’s share price has already been in freefall since a high of 184 krones last spring, currently down at just 41 krones.
Shares have plummeted since the beginning of the year when British Airways owner IAG abandoned a bid for the airline.
Speculation has already been mounting that Norwegian may collapse – or be subject to a hostile takeover bid – if its value drops any further, after an emergency rights issue last month.
But this morning’s news pushed shares up as Kjos sought to quell investor concern over the impact of the 737 Max ban.