Originally Posted by
lansen
Air Europe, Dan Air weren't even close to being half as big as Norwegian is today. Air Berlin had a 100% leased fleet, while Norwegian's fleet is 70% owned. Pan Am got hit by deregulations and TWA got bought up. Not to name the fact that Air Berlin, Pan Am and TWA had completely different business models.
Great comparison mate..
Owned as in financed through loans direct to the company instead of via specific plane leases. Not as Ryanair's owned fleet financed through shareholder funds and profits. Norwegian never did enough share expansion schemes or had any substantial full year profits they could finance their fleet expansion with. This is why so little end up on the bottom line every time they sell some of their "owned" fleet.