Norwegian reports doubling of profits and record high load factor

Press release -

Norwegian reports doubling of profits and record high load factor

Norwegian (NAS) today reported its second quarter results for 2016. The pre-tax result (EBT) was NOK 930 million (£83million); doubling the profit from last year’s result of NOK 456 million. The load factor for this period was 88 percent. In two years, the load factor has increased with eight percentage points. The overall performance was positive in all of Norwegian’s main markets during the second quarter.

The load factor for the second quarter was 88 percent, up three percentage points from the same quarter last year. Last year, Norwegian also had a considerable rise in load factor, which means fuller aircraft and a significant reduction in CO2 emissions per passenger kilometer (RPK). So far this year, Norwegian has introduced two new Boeing 787 Dreamliner and ten new Boeing 737-800 to its fleet. Norwegian now has a fleet of 10 Dreamliner long-haul aircraft and within a few years, it will have a fleet of at least 42 Dreamliner long-haul aircraft.

Growth in all of Norwegian’s markets
During the second quarter, the airline carried 7.7 million passengers, an increase of 11 percent. Norwegian’s strongest growth in terms of passenger numbers was Stockholm Arlanda, London Gatwick and its Spanish bases. During this quarter, Norwegian has established a new base in Palma, and the company now flies a number of domestic routes in Spain.

During the second quarter, Norwegian’s total revenue was NOK 6.6 billion (£594million), up 13 percent from the same quarter last year. Norwegian’s production growth (ASK) for this quarter was 12 percent, while the company’s traffic growth (RPK) was 16 percent, which reflects that each of Norwegian’s passengers on average flies significantly longer than they did before. Norwegian’s growth estimate of 18 percent (ASK) for the whole year remains the same.

Norwegian named the world’s best low cost long haul airline for the second time
This week, Norwegian was named the ‘World’s Best Low Cost Long Haul Airline’ for the second consecutive year. In addition, Norwegian was also voted ‘Best Low-Cost Airline in Europe’ for the fourth year in a row at the renowned Skytrax World Airline Awards. Skytrax is the industry’s most renowned rating system, voted on by the travelling public, who evaluate more than 280 airlines worldwide.

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

“Bookings and pre-sales for the coming months are looking very good and it has also been a great pleasure to receive fantastic feedback from our customers in the form of two SkyTrax awards. This would never be possible without all the dedicated people working at Norwegian,” he continued.

For detailed information, please see pdf attached.

Media Contacts:
Chief Communications Officer Anne-Sissel Skånvik, tel + 47 97 55 43 44
CFO Frode Foss, tel. +47 91 63 16 45

Topics

Norwegian in the UK:

  • Norwegian first launched UK flights in 2003 and now operates from London Gatwick, Edinburgh, Birmingham and Manchester Airports to more than 40 destinations worldwide
  • Norwegian is the third largest airline at London Gatwick, with 3.9 million yearly passengers, and with more than 700 pilots, cabin crew and staff working from its Gatwick base
  • In 2014, Norwegian introduced the UK’s first low-cost, long haul flights to the U.S. - the airlines now flies to 8 U.S destinations with fares from just £135 one way
  • Norwegian is the only airline to offer free inflight WiFi on UK flights to more than 30 European destinations
  • The airline has one of the youngest aircraft fleets in the world with an average age of four years, including next-generation Boeing 787 Dreamliners and Boeing 737-800s
  • Norwegian has been voted ‘Europe’s best low-cost carrier’ by passengers for four consecutive years at SkyTrax World Airline Awards from 2013-2016, along with being awarded the ‘World's best low-cost long-haul airline’ in both 2015 and 2016

Contacts

For journalists only

For journalists only

Press contact Norwegian Press Office +47 815 11 816
Marketing/sponsorhip requests: marketing@norwegian.com

Marketing/sponsorhip requests: marketing@norwegian.com

Press contact Marketing/sponsorship requests: marketing@norwegian.com

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Norwegian.com

The Norwegian group is a leading Nordic aviation company, headquartered at Fornebu outside Oslo, Norway. The company has over 8,200 employees and owns two of the prominent airlines in the Nordics: Norwegian Air Shuttle and Widerøe’s Flyveselskap. Widerøe was acquired by Norwegian in 2024, aiming to facilitate seamless air travel across the two airline’s networks.

Norwegian Air Shuttle, the largest Norwegian airline with around 4,700 employees, operates an extensive route network connecting Nordic countries to key European destinations. In 2023, Norwegian carried over 20 million passengers and maintained a fleet of 87 Boeing 737-800 and 737 MAX 8 aircraft.

Widerøe’s Flyveselskap, Norway’s oldest airline, is Scandinavia’s largest regional carrier. The airline has more than 3,500 employees. Mainly operating the short-runway airports in rural Norway, Widerøe operates several state contract routes (PSO routes) in addition to its own commercial network. In 2023, the airline had 3.3 million passengers and a fleet of 48 aircraft, including 45 Bombardier Dash 8’s and three Embraer E190-E2's. Widerøe Ground Handling provides ground handling services at 41 Norwegian airports.

The Norwegian group has sustainability as a key priority and has committed to significantly reducing carbon emissions from its operations. Among numerous initiatives, the most noteworthy is the investment in production and use of fossil-free aviation fuel (SAF). Norwegian strives to become the sustainable choice for its passengers, actively contributing to the transformation of the aviation industry.

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