Despite posting a pre-tax (EBT) loss of NOK 80 million for the fourth quarter of 2022, flag-carrying airline Norwegian Air Shuttle (Norwegian) has posted NOK 1,502 million EBIT operating profit for 2022. The company also delivered an operating loss for the fourth quarter of NOK 39 million. The quarter's loss has been put down to reduced seasonal demand.
Norwegian concluded the year with a cash position of NOK7.8 billion, while at year-end, the company's fleet was comprised of 70 aircraft. In the fourth quarter of 2022, Norwegian had 4.6 million passengers, up from 3.1 million in the fourth quarter of 2021. Production (ASK) was 6.9 billion seat kilometres, while passenger traffic (RPK) was 5.7 billion seat kilometres. The load factor increased to 81.4% from 77.0% in the same period last year.
To meet the anticipated strong demand going forward, the company has signed a Letter of Intent (LOI) for six Boeing 737 MAX 8 aircraft on lease from Air Lease Corporation (ALC) to be delivered ahead of the summer 2023 season. These leases will help to counteract delays from Boeing for other aircraft that were originally due for delivery this spring. For the upcoming summer season, Norwegian expects to operate a total fleet of 81 aircraft and has a positive outlook for 2023.
“Our New Year's sale campaign has exceeded all expectations with more than one million seats sold in only 14 days, a strong sign of the exciting year we have ahead of us,” said its CEO, Geir Karlsen. (£1.00 = NOK 12.29 at time of publication.
