Jacob Schram appointed new CEO of Norwegian
Norwegian’s Board of Directors has today appointed Jacob Schram as CEO of Norwegian, starting January 1st 2020. Geir Karlsen will continue as CFO and Deputy CEO.
Topics: Transport
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Norwegian has raised new capital
Norwegian has raised NOK 2.5 billion in gross proceeds through a private placement and a convertible bond issue of USD 150 million. After the completion of the transactions, Norwegian is fully funded through 2020 and beyond.
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Norwegian reports higher load factor and unit revenue in October
Norwegian’s traffic figures for October shows an increased unit revenue for the seventh consecutive month and was up six percent compared to the same month previous year. The load factor was up by more than two percent.
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Norwegian’s new route to Bergen from Manchester takes off
Airline commences twice-weekly service with fares from £43.90 one-way
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Norwegian reports its best ever quarterly result with a profit before tax of NOK 2.2 billion
Norwegian’s third quarter results are characterised by improved profitability, higher unit revenue, lower unit cost and reduced growth, in line with the strategy. Profit before tax improved by 38 percent to NOK 2.2 billion compared to the same quarter last year.
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Norwegian to establish a joint venture for parts of its aircraft fleet with China Construction Bank Leasing Corporation
The purpose of the joint venture (JV) between Norwegian and China Leasing International Corporation DAC (CCBLI) will be to finance, own and lease aircraft that Norwegian has on order. The agreement will strengthen Norwegian’s financials considerably.
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Norwegian adds new tool to reduce CO2 emissions by 140,000 tons per year
Reducing CO2 emissions is one of the most important tasks for the aviation industry. Using new technology and new, modern aircraft, Norwegian has reduced emissions by 30 percent since 2008. With the new ‘SkyBreathe’ tool, emissions can be reduced by 140,000 tons per year.
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Norwegian and JetBlue Announce Intent for Partnership
Norwegian and JetBlue have signed a Letter of Intent for an interline agreement. The partnership will allow customers to combine low fares in a convenient single booking for connecting flights between Europe and the Americas.
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Norwegian announces more capacity on key UK - US routes for Summer 2020
Norwegian today announced frequency increases between London Gatwick and key US destinations such as San Francisco and Tampa in response to demand. The increases will take affect from 29th March 2020 and run throughout the summer 2020 schedule.
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Norwegian reports increased passenger traffic and higher revenues in September
Norwegian carried more than 3.3 million passengers in September. The unit revenue increased for the sixth consecutive month and was up by six percent compared to the same month previous year.
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Norwegian’s loyalty programme reaches 10 million members – three new members every minute
Norwegian’s loyalty programme, Norwegian Reward, has reached 10 million members. So far in 2019, more than three new members signed up to the loyalty programme every minute.
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Fly from the Arctic to Antarctica gateway with Norwegian from under £400
Norwegian today announces that holidaymakers, travel enthusiasts and #avgeeks now have the unique opportunity to travel between the Arctic and Ushuaia, one of the world’s southernmost cities and gateway to Antarctica on Norwegian from £398.50 one way at www.norwegian.com.
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Bondholders vote in favour of Norwegian’s proposed amendments to its two unsecured bonds NAS07 and NAS08
On 16 September 2019, separate bondholders’ meetings were held in NAS07 and NAS08 and both meetings voted in favour for the proposed amendments with sufficient majority.
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Norwegian reports increased unit revenue and higher load factor in August
Norwegian carried more than 3.5 million passengers in August. The unit revenue increased by three percent and the load factor was 90 percent, up 0.4 percentage points.
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Norwegian launches Autumn sale with fares to the US from just £134.90 one-way
Flights to South America available from just £199.90 one-way Fly to Europe from £28.90 one-way in the sale
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Norwegian Air Shuttle offers bondholders security in exchange for amended bond maturities
Norwegian Air Shuttle (“NAS” or the “Company”) is executing on its strategic plan from growth to profitability and cash generation. To ensure successful operations and adequate liquidity headroom, NAS is requesting to extend the maturity dates of its two unsecured bonds in exchange of a security package backed by the attractive take-off and landing slots at London Gatwick Airport.
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Norwegian to end transatlantic flights between Ireland and North America from 15 September 2019
As the airline moves from growth to profitability, we have conducted a comprehensive review of our transatlantic operations between Ireland and North America and considering the grounding of the Boeing 737 MAX aircraft, we have concluded that these routes are no longer commercially viable.
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Norwegian reports higher load factor in July
Norwegian carried more than 3.7 million passengers in July. The load factor was 93.5 percent, up half a percentage point.
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CFO Geir Karlsen appointed interim CEO of Norwegian as Bjørn Kjos steps down
After 17 years as the CEO of Norwegian Air Shuttle, Bjørn Kjos (72) will leave the position and continue in a new role as an advisor to the Chairman, with effect from July 11th. Until Norwegian appoints a new CEO, CFO Geir Karlsen (54) will act as interim CEO, while Chairman Niels Smedegaard (57) will take on a more active role in the management.
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Norwegian’s financial turnaround moves in the right direction: Increased revenue and reduced cost
Norwegian’s second quarter results are characterised by reduced growth and improved profitability, in line with the company’s strategy. Despite the reduced production growth and grounding of the Boeing 737 MAX aircraft, the underlying operating result before ownership costs more than doubled from the same quarter in 2018.
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