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Press release -

Norwegian Third Quarter Results 2010

  • Third quarter revenue up by 24.5 % to MNOK 2,827.9 (2,271.5).
  • Earnings before depreciation and leasing (EBITDAR) in the third quarter were MNOK 839.9 (669.5).
  • Earnings before depreciation (EBITDA) in the quarter were MNOK 623.6 (514.7).
  • Net result after tax in the third quarter was MNOK 528.0 (374.8).
  • Ancillary revenue per passenger up 5 % in the third quarter. 
  • The number of passengers in the third quarter was 3.8 mill. (+25%).
  • Unit cost was NOK 0.41 in the third quarter compared to NOK 0.44 in the third quarter last year. Unit cost excluding fuel was NOK 0.30 in the third quarter compared to NOK 0.32 in the third quarter last year.
  • The Appeals Committee of the Supreme Court has denied SAS' appeal which means SAS is held liable to pay MNOK 182 to Norwegian in damages for unjustified access to and unlawful use of Norwegians trade secrets.
  • During the quarter, currency gains on USD denominated financing amount to MNOK 172, due to depreciation of USD against NOK. These unrealized gains have no cash effects.
  • Cash and money market deposits of MNOK 1,181 (782) as of 30.09.10
  • Cash flow from operating activities in the third quarter was MNOK -48 (113)


Norwegian Air Shuttle ASA, commercially branded “Norwegian,” is a public low-cost airline noted on the Oslo Stock Exchange. The company is the second largest airline in Scandinavia, and has a route portfolio that stretches across Europe into North Africa and the Middle East. With competitive prices and customer friendly solutions and service, the company has experienced significant growth over the previous years. With more than 10.7 million passengers in 2009, Norwegian is the 3rd largest low-cost airline in Europe. The turnover in 2009 was in excess of NOK 7.3 billion. Norwegian currently operates 54 aircraft on 238 routes to 95 destinations and employs approximately 2 000 people.


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Norwegian is the largest Norwegian airline and one of Europe’s leading low-cost carriers. The company has around 4,500 employees and offers a comprehensive route network between Nordic countries and destinations in Europe. Since 2002, more than 300 million passengers have flown with Norwegian. The most important task has been to offer affordable plane tickets to all and to offer more freedom of choice along the journey.

Norwegian is a driving force for sustainable solutions and the transformation of the aviation industry. The company’s goal is to reduce its CO2 emissions by 45 percent within 2030. To this means, the company is renewing its fleet, promoting sustainable aviation fuel, reducing its waste, and using wind and weather data to calculate the most efficient fuel-saving flights routes. Norwegian wants to become the sustainable choice for its passengers.