Norwegian Airlines sees profits double

Norwegian Airlines sees profits double

Low-cost carrier Norwegian has reported a doubling of its profit from last year, growth in all its markets and the ordering of 30 new Airbus aircraft.

The airline’s pre-tax result was 930 million Norwegian krone (EBT); a doubling of the profit from last year’s NOK 456 million.

Meanwhile the carrier’s load factor has increased by 8% to 88%.

It was also announced today that its subsidiary, Arctic Aviation Assets, has placed a new order of 30 Airbus 321 aircraft, which Norwegian will operate when eight enter service in 2019 and the remaining 22 the following two years.

The airline’s asset company has converted an existing order from 30 A320neo aircraft to 30 A321LR aircraft.

During the second quarter, the airline carried 7.7 million passengers, an increase of 11%, with the strongest passenger growth at Stockholm Arlanda, London Gatwick and its Spanish bases.

“I am very pleased with the improved result and record high load factor for this quarter,” said Norwegian’s chief executive Bjørn Kjos.

“However, we have had significant additional costs for leasing of aircraft and passenger compensation.

“Over the summer, we will phase out the wet-leased aircraft.

“Bookings and pre-sales for the coming months are looking very good.”

So far this year Norwegian has introduced two new Boeing 787 Dreamliners and ten new Boeing 737-800 to its fleet.


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