Norwegian reports high load factor for 1Q16

tNorwegian has reported a record load factor of 85% for the first quarter of 2016 (1Q16), up two percentage points compared to the same quarter last year.ttThe airline carried almost six million passengers in 1Q16, an increase of 17% year-over-year. It’s strongest growth was at London Gatwick, but Norwegian said the growth at Spanish airports was also noteworthy.ttNorwegian’s CEO, Bjørn Kjos, averred, “The first quarter results show that we have an underlying profit improvement of 400 million NOK compared to the same quarter last year. Our load factor continues to be very high. The long-haul operations are becoming significantly more important. We also see growth in the Nordics and in Europe in general. We see that the Scandinavian and European route networks both play an increasingly important role in our long-haul strategy, as many of our passengers connect from short haul to long haul and vice versa. An increasing number of business travellers choose to fly with Norwegian, and we have entered into agreements with several large corporations in the first quarter. This indicates that passengers appreciate a high quality product at a low price.”ttThe carrier’s pre-tax result was -992 MNOK, compared to -777 MNOK for the same quarter previous year. Included in the 2016 figures are negative currency effects and losses from forward jet-fuel contracts, amounting to a loss of 528 MNOK.ttDuring 1Q16 Norwegian launched new long-haul routes between Paris and the US, and took delivery of five new Boeing 737-800s as well as one Boeing 787-9 Dreamliner.

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