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Norwegian chief cashes in with share sale

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Norwegian chief cashes in with share sale
Bjørn Kjos presents Norwegian's third-quarter results in October. Photo: Terje Bendiksby / NTB
18:22 CET+01:00
The founder Norwegian, Bjørn Kjos, is planning to sell shares equivalent to 2 percent of the fast-growing budget airline, it was announced on Monday.

In a message to the stock exchange holding company HBK Invest, of which Kjos owns 84 percent,  said it would sell up to 703,243 shares in the airline. At today’s share price that would net 200 million kroner, according to Hegnar.no.

HBK will continue to own 25.02 percent of the company and said it remained a long-term owner.

Norwegian, founded in 1993, is the third largest low-cost airline in Europe and the second largest airline in Scandinavia and transported 20.7 million people last year. It made a pre-tax profit of 437 million kroner ($59 million) in 2013.

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