Norwegian reports strong improvement in earnings in 2015

For 2015 Norwegian reported a net profit of 75 MNOK (£6m). The figure was heavily influenced by an unrealised loss on fuel hedging for 2016 and 2017, which makes up 800 MNOK. Adjusted for such unrealised hedging, the 2015 pre-tax results was 875 MNOK (£70m). This was a strong improvement compared to -1.168 MNOK the previous year. The company’s total revenue was 22.5 BNOK (£1.8bn) – an increase of 15%. The production growth (ASK) increased by 5%, which illustrates a breather in the company’s expansion, explained by phasing out older aircraft whilst adding new aircraft to the fleet. The load factor remained high at 86% in 2015, up 5 points from the year before. Norwegian carried close to 26 million passengers in 2015, an increase of 7% from 2014.