Norwegian reported its first quarter results for 2017 with a net loss of NOK1.5bn, compared to a net loss of NOK800m in the first quarter of the previous year. During the first quarter, unit costs excluding fuel fell by 4% and debt was cut by NOK1bn. Total revenue in the first quarter was NOK5.4bn an increase of 9%. Cash and cash equivalents at the end of the quarter was NOK4.8bn. The airline carried 6.7 million passengers in the first quarter, an increase of 14%. Norwegian’s strongest growth was in the U.S., Spain and France. In the Nordics, the passenger growth was 6%. The capacity growth was 24% and the load factor was 84% – marginally down in a quarter traditionally characterized by less demand and travel. Norwegian launched 39 new routes during the first quarter, including routes between the U.S. and Ireland, Northern Ireland, Scotland and Norway. During the first quarter of 2017, Norwegian took delivery of seven brand new Boeing 737-800 aircraft, as well as one Boeing 787-9 Dreamliner. In April the company announced three new intercontinental destinations from London Gatwick to Singapore, Denver and Seattle.
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada