Norwegian profits hit by delay compensation costs
Norwegian has reported profits of £94 million for the third quarter, up by 4% year-on-year.
The company carried 9.8 million passengers, an increase of 14% compared to the same quarter last year.
It said passenger growth has been positive in all of Norwegian’s key markets, with significant growth in the US and Spain.
Overall load factor has risen to 92%.
Norwegian’s CEO Bjorn Kjos said: "An increasing number of passengers in the US, Spain and other parts of the world considerably contribute to the growth, which proves that our global strategy is being realised.
"However, we have had major additional costs related to wet-leasing and compensation paid to passengers affected by delays, significantly affecting the quarterly result. But looking ahead, the ticket sales are satisfactory both on established and new routes."
Meanwhile, it has been granted concessions to operator 153 routes from Argentina with its subsidiary Norwegian Air Argentina.
It has originally applied for 156 routes.
The airline said it plans to have a considerable operation in Argentina that includes both domestic and international flights.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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