Norwegian Air departs Argentina

Norwegian Air departs Argentina

M&A Corporate & Sovereign Strategy Argentina Chile Europe

Norwegian Air Shuttle said Wednesday that it has signed a deal to sell its Argentine business to Chilean competitor JetSmart Airlines, a move that one analyst said will allow the Scandinavian airline to refocus on its core markets after an expansion into South American did not go as well as planned. "We're taking necessary steps to return to profitability," Norwegian's acting CEO Geir Karlsen said in a statement. A spokesperson for the company declined to provide the financial terms of the deal.

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