Norwegian Air boss checks out after 17 years

Norwegian Air to relaunch MAXes in October

Norwegian Air to relaunch MAXes in October

Geir Karlsen, Norwegian's chief financial officer, is replacing him in the interim until the group appoints a new CEO. "I am way overdue". The company began as a small Norwegian airline at Oslo airport when he was a fighter pilot.

Norwegian Air's charismatic boss is stepping down after 17 years as the troubled airline warned the grounding of Boeing's 737 Max planes will hit profits.

"People ask me 'isn't Norwegian your baby?' It is not my baby, it is the baby of 11,000 people", Kjos told a news conference, referring to the number of Norwegian's employees.

Norwegian Air shook up global aviation by offering discounted flights within Europe and to the United States, Asia, and Latin America.

"I look forward to spending more time working on specific strategic projects that are crucial to the future success of Norwegian", said Kjos. Despite operational issues outside of our control, like the grounding of our 737 MAX fleet, we are delivering the highest second quarter operating revenue in the history of Norwegian. "And in the middle of this, the guy in the cockpit is taking a more peripheral role".

The airline also said it expected its 18 grounded Boeing 737 MAX aircraft to return to service in October, compared with its previous view that they would return to service in August.

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Shares in Norwegian Air were down 5.4% at 1000 GMT in volatile trading.

The chief executive of one of Europe's largest low-priced carriers stepped down Thursday from the company he founded and still partially owns.

The jets have been grounded worldwide since March following two fatal crashes and Norwegian Air has said the disruption could scupper its plans to return to profitability this year.

During his tenure, the company has developed from a small domestic operation with 130 employees and four aircraft to a global low-priced airline with more than 11,000 employees and 162 aircraft.

Its net profit came in at NOK82.8m (€8.5m), down from NOK300.3m (€31m) in the same period previous year, but ahead of the average forecast of NOK76.2m (€7.9m) from five analysts compiled by Refinitiv.

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