Norwegian Air Shuttle’s New Boss Battles to Save Struggling Airline

Geir Karlsen has been busy. Over the past four months, the chief executive of Norwegian Air Shuttle has sold off a large chunk of the airline’s assets at a remarkable pace as he attempts to secure the future of the world’s fifth-biggest low-cost carrier, the Financial Times reported. But the 54-year old acting chief executive, who took the top job in July and also wears the airline’s chief financial officer hat, remains sombre. “We’re not happy”, he said, when asked if he is pleased with the changes he has made, but added that the airline is “on the right track”. Mr Karlsen’s task is huge. The fast-growing group has been a disruptive force within the airline industry since it announced plans to launch low-cost transatlantic flights in 2012, leading the charge in reducing fares and forcing rivals to respond with their own budget services. Read more

Location