Norwegian’s 1Q15 results improve despite pilot strike

Norwegian’s financial results for the first quarter of 2015 (1Q15), which the carrier says were affected by the pilot strike in Scandinavia and the weak Norwegian currency (NOK), resulted in a net loss of NOK538 million, though this is still an improvement of NOK57 million compared with 1Q14’s result.
The 1Q15 total revenue was NOK4.034 billion, up 14% year-on-year, whilst the company saw 2% growth in passenger numbers to almost 5 million. The airline had an increase of 320,000 passengers in England and Spain during the first quarter compared with 1Q14, but in Norway and Sweden there was a decline of 190,000 passengers, mostly due to the pilot strike in Scandinavia. This was offset by Easter traffic, which came in the first quarter this year compared with the second quarter last year.
The company’s revenue passenger kilometres (RPKs) were up 15% and the load factor during 1Q15 was 83%, up six percentage points compared with 1Q14.
“Traditionally, the first quarter is low season,” noted Norwegian’s CEO, Bjørn Kjos. “On a positive note, the passenger growth outside Scandinavia is strong, particularly on our long-haul routes. The passenger growth is especially strong at London Gatwick and future booking figures are looking good.”
Norwegian also took delivery of two new Boeing 737-800s and a Boeing 787-8 Dreamliner during the March-April period, as well as launching several new long-haul routes during 1Q15.

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