Norwegian (NAS) reported third quarter 2011 operating results of 1 BNOK. This is the company’s best ever quarterly result. Third quarter revenue was up by 19.4% to MNOK 3,376.2 (2,827.9). Earnings before depreciation and leasing (EBITDAR) in the third quarter were MNOK 1,206.2 (839.9). Earnings before depreciation (EBITDA) in the third quarter were MNOK 1,001.2 (623.6). Net result after tax in the third quarter was MNOK 494.9 (528.1). Ancillary revenue per passenger was down 5% in the third quarter.
MNOK 175 of the third party revenue in 2010 is related to damage payment from SAS for industrial espionage against Norwegian.
Unit cost was NOK 0.37 in the third quarter compared to NOK 0.41 in the third quarter last year. Unit cost excluding fuel was NOK 0.23 in the third quarter compared to NOK 0.30 in the third quarter last year. Cash and money market deposits of MNOK 1,430 (1,181) as of 30.09.11. Cash flow from operating activities in the third quarter was MNOK 243 (-48)
