Norwegian Air makes progress on turnaround plan after cutting capacity by a quarter

OSLO (Reuters) - Norwegian Air cut its capacity by a quarter in December, removing loss-making routes as it made headway on its plan to regain profitability, traffic data from the budget carrier showed on Tuesday.Shares in the carrier jumped as much as 6% in opening trade as Norwegian said reduced capacity helped lift average income per passenger by 14%.The airline has shaken up the transatlantic travel market with low fares, but breakneck expansion and the forced grounding of its Boeing 737..