Norwegian in $23 million Q4 loss hit by fuel costs

OSLO, Norway — Norwegian Air Shuttle ASA says it was hit by higher fuel costs in the fourth-quarter widening its net loss to 133 million kroner ($23 million).

The Norwegian budget airline reported on Thursday that revenue in the period grew 18 percent to 2.5 billion kroner, from 2.1 billion kroner a year earlier. Net loss in the same period in 2010 was 23 million kroner.

Norwegian Air Shuttle is one of Europe's fastest growing airlines, which last month announced plans to by more than 200 aircraft from Boeing and Airbus.

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