HELSINKI, Jan 13 Reuters Budget airline Norwegian Air cut its operating profit outlook for 2024 on Monday, citing a negative impact from the weakening of the Norwegian crown currency against the dollar.

The airline now expects its fullyear operating profit to be around 1.85 billion Norwegian Crowns 161.04 million, compared to its previous outlook from October of between 2.1 billion and 2.4 billion.

Shares fell around 7 in early trade on Oslo39;s stock exchange.

The deterioration is predominately the result of balance sheet adjustments relating the weakening of the NOK against the USD during the fourth quarter, it said in a statement.

Norwegian Air will publish its fullyear earnings on Feb. 13.

1 11.4877 Norwegian crowns

Reporting by Essi Lehto, editing by Stine Jacobsen and Louise Rasmussen

Source Reuters