The chief executive and co-founder of Norwegian Air, Bjørn Kjos, has stepped down after 17 years in charge at the airline.

Under the leadership of Mr Kjos (72), Norwegian Air developed from a small domestic airline into Europe’s third biggest low-cost carrier.

It also broke into the transatlantic market with low fares.

However the firm has struggled to make profits, and has also been hit by the grounding of the Boeing 737 Max plane.

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