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Norwegian announces 2Q profit despite negative factors

Although Norwegian’s 2Q figures have been affected by weak Norwegian currency, a strike from labour union Parat (costing almost NOK100 million) and the start-up costs of its long-haul operations, thanks to strong growth and a record high load factor the airline still reported a profit for the quarter of NOK128 million.

The company's total revenue for the quarter was up 26% on the same period in 2013, which was attributed to the fact that the increase in passengers during Q2 was nearly 900,000 people (16% up on 2Q13). Whilst adding seven Boeing 787s to its fleet in the past 12 months, Norwegian’s load factor also rose – to 80%, which is a record for the second quarter.

“This quarter, we see clear results of the company’s strategy. Over the past year, we have established a long-haul operation and we have opened several new bases in Europe. More than half of our 417 routes are currently operated outside Norway, which illustrates a significant international expansion over the past year,” commented Bjørn Kjos, Norwegian’s CEO. “At the same time, we have managed to cut costs, which is essential in such a competitive, global business as the aviation industry.”

“The most important evidence of customer satisfaction is the fact that more and more people choose to fly with Norwegian,” concluded Kjos.

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