Norwegian has reported its first quarter earnings for 2018 with a result of NOK-46.2m (£-4.16m). The quarter was characterized by international expansion, strong passenger growth and higher fuel cost. A successful private placement of shares was completed this quarter.
The net result was NOK-46.2m, compared to NOK-1,491.5m the same quarter previous year. The net result of this quarter is positively affected by a financial gain from reclassification of the investment in Norwegian Finans Holding of NOK1,940m.
The airline carried 7.5 million passengers in the first quarter, an increase of 12%. The capacity growth was 36% and the load factor was 84.5%.
Norwegian has grown rapidly during the past years, expanding international traffic and adding new bases, destinations and markets to its portfolio. Consequently, making the U.S. the market with the strongest growth.
