Million loss to the Norwegian after Brexit

The airline NorwegianThe airline Norwegian. Photo Norway Today Media

The value of several airlines dropped considerably after the British decision to leave the EU. Norwegian CEO Bjorn Kjos lost 247 million kroner of his fortune.

“We respect Britain’s decision but, like other companies, we must now wait and see how Britain’s EU withdrawal will affect industry and aviation. Whatever comes. Britain is to play a central role in Norwegian’s international expansion,” corresponding Communications Manager Lasse Sandakerveien-Nielsen from Norwegian said to Finansavisen questions about the Brexit ruling’s affect on the company’s commitment in the UK.

Norwegian shares fell 9.1 percent on Friday, which led to a reduction of 247 million kroner in Kjos’ paper wealth, according to the newspaper.
In addition, the International Airline Group fell into the red, which includes British Airways. That company fell 20.5 percent, EasyJet declined 13.4 percent, Ryanair was down 8.3 percent, and SAS fell by 4.5 percent.

Source: NTB scanpix / Norway Today

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