Monday 16 July 2018

Norwegian to fly Dublin-Toronto route from next year

Scandinavian carrier Norwegian is to launch a new route next year between Dublin and Hamilton Toronto Airport. Photo: Bloomberg
Scandinavian carrier Norwegian is to launch a new route next year between Dublin and Hamilton Toronto Airport. Photo: Bloomberg
John Mulligan

John Mulligan

Scandinavian carrier Norwegian is to launch a new route next year between Dublin and Hamilton Toronto Airport.

It's Norwegian's first-ever route from Europe to Canada, and it will be serviced with a single-aisle Boeing 737 Max aircraft. The route starts on March 31.

It also marks Norwegian's third route from the Irish capital.

Hamilton Toronto is located about 64km from downtown Toronto, a city whose primary airport is Pearson.

Toronto Pearson is currently directly served from Dublin by Aer Lingus, Air Canada and Air Transat.

Meanwhile, a new report from Davy Stockbrokers has predicted that rising oil prices will speed up consolidation amongst Europe's airlines, with scope for rivals to improve their competitive positioning and market share.

The broker said that Ryanair, Wizz Air and Deutsche Post DHL are its top picks in the sector.

Davy said its latest passenger capacity analysis suggests profits would be broadly flat in the fourth quarter for the first time since the first quarter of 2013. "The big topic in the space currently is the industry's elasticity of supply to a change in the oil price - as such, this is clearly an encouraging sign," the broker noted.

"A rising oil price, we believe, will also speed up the pace of consolidation in Europe - the airline profit pool within Europe is shared among a select few and there is scope for these operators to improve competitive positioning and market share."

It added that in 2017, the level of net income achieved was with an average jet fuel price that was 32pc lower than the average spot expected for 2018 in euro terms.

Indo Business

Business Newsletter

Read the leading stories from the world of Business.

Also in Business