The Norwegian Group (Norwegian) has reported a strong set of results for the first quarter (Q1) of 2026, traditionally the weakest period of the year. The airline achieved a record first-quarter load factor of 87.6%, significantly reduced its operating losses and increased liquidity to NOK 14.2 billion.
The performance reflects continued focus on cost control and solid operational execution despite an uncertain macroeconomic backdrop. Operating loss (EBIT) improved markedly to NOK -220 million in Q1, compared with NOK -611 million in the same period last year. Profit before tax (EBT) stood at NOK -459 million. Results were supported by a stronger Norwegian krone, gains from jet fuel hedging and lower EU ETS allowance prices.
The group carried a total of 5.2 million passengers during Q1, including 4.2 million on Norwegian and 0.9 million on Widerøe. Norwegian reduced capacity (ASK) by 6%, while Widerøe’s capacity declined by 2%. Passenger traffic (RPK) remained stable year-on-year for Norwegian and decreased by 1% for Widerøe.
Norwegian’s load factor rose by 5.2 percentage points compared with the same quarter last year, reaching 87.6%, while Widerøe reported a load factor of 70.2%.
Operational performance remained stable, with Norwegian achieving punctuality of 78.8% and Widerøe 87.2% during the quarter. At the end of the period, the Norwegian Group’s fleet totalled 145 aircraft, comprising 95 aircraft operated by Norwegian and 50 by Widerøe (US$1.00 = NEK9.32 at time of publication).
