Norwegian reports high passenger numbers, but confirms cost cuts
Budget airline Norwegian has confirmed a number of cost-cutting measures in its latest report, but did not reveal further details.
In its latest report, the airline reported smaller-than-expected passenger growth amid intensifying competition and high oil costs.
Capacity grew by 34% year-on-year last month, but revenue-generating passenger kilometres increased by 24%. December passenger numbers rose by 15% to 2.7 million.
The company carried 37.34 million passengers in 2018, an increase of 13% on the previous year. The full-year load factor was 85.8%, down from 87.5% in 2017.
CEO Bjorn Kjos said: "The 2018 traffic figures demonstrate that our international footprint continues to grow stronger, in line with the Norwegian’s strategy. The company has made considerable investments this year and will now enter a period of slower growth.
"Continued tough competition, high oil prices and operational challenges in 2018 combined with the issues with Rolls Royce engines, which have particularly affected our long-haul operations, have had an impact on our financial results in the latter half of 2018.
"We have launched a series of cost-reduction measures to boost our financials in 2019 which will have an immediate and continued positive influence throughout the year."
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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