Norwegian Air back in the black
Norwegian reported its second quarter results, with a ‘clear improvement’ in performance leading to a small first half pre-tax profit of NOK1.6 million (about £130,000).
It is a positive turnaround compared with a loss of nearly NOK4.8 million in the same period in 2020.
Total revenue in 2021 was down 92% as the airline is ‘heavily impacted by international travel restrictions.’
It said the reconstruction process improved equity by NOK10.7 billion.
Forward bookings continue to increase in response to the gradual relaxation of travel restrictions and the vaccine roll outs.
"Ir mark a clear improvement in both the financial situation, due to lower operating costs and the successful completion of the reconstruction process of the company, and the gradual ramp up of our operations in response to increased passenger demand," said Geir Karlsen, CEO of Norwegian.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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