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Press release -

Norwegian Fourth Quarter Results 2011

  • Fourth quarter revenue up by 18.2 % to MNOK 2,536.4 (2,145.4).
  • Earnings before depreciation and leasing (EBITDAR) in the fourth quarter were MNOK 216.1 (214.0).
  • Earnings before depreciation (EBITDA) in the fourth quarter were MNOK 1.7 (14.2).
  • Net result after tax in the fourth quarter was MNOK -133.3 (-23.6).
  • Ancillary revenue per passenger down 5 % in the fourth quarter. Ancillary revenue per scheduled passenger was equivalent to last year.
  • The number of passengers in the fourth quarter was 3.99 mill. (+20%).
  • Unit cost was NOK 0.46 in the fourth quarter compared to NOK 0.47 in the fourth quarter last year. Unit cost excluding fuel and effects from other losses and gains was NOK 0.33 in the fourth quarter compared to NOK 0.36 in the fourth quarter last year.
  • Unit cost for aviation fuel expense up 21% from 0.11 in fourth quarter 2010 to 0.14 in 2011. Gross realized fuel price per ton up 36% in fourth quarter compared to fourth quarter last year.
  • Pre-delivery payment financing facilities of MNOK 600 was arranged and closed during fourth quarter 2011. The facilities cover pre-delivery payments on aircraft delivering during 2012 to 2014.
  • Cash and money market deposits of MNOK 1,105 (1,178) as of 31.12.11.
  • Cash flow from operating activities in the fourth quarter was MNOK -73 (158).
  • Events after the reporting date; Firm order of 222 new aircraft with an aggregated value at list price of approximately NOK 127 billion. The delivery of aircraft starts in 2016 and is supported by export credit agencies.

For further information please see the enclosed report, presentation and press release.


About Norwegian

Norwegian was founded in 1993 but began operating as a low-cost carrier with Boeing 737 aircraft in 2002. Since then, our mission has been to offer affordable fares for all and to allow customers to travel the smart way by offering value and choice throughout their journey.

Norwegian has been voted Europe’s Best Low-Cost airline by Skytrax for six consecutive years and won Airline Program of the Year Europe & Africa at the Freddie Awards for four consecutive years. Since 2012, Norwegian has won over 55 awards for our service, product, and innovation in the industry.

We were the first airline in the world to join the UN Climate Secretariat’s climate action-initiative in 2019, pledging to work systematically to become carbon neutral by 2050.

Norwegian operates a short haul network across the Nordics and to key European destinations providing customers with excellent quality at affordable fares.

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