Published on Thursday, October 22, 2015

Profits more than double at Norwegian

Norwegian Air Shuttle more than doubled its third-quarter profits this year due to fuller aircraft, higher ticket prices and cheaper fuel.

Net profit for the three months to the end of September was £66 million, up from £30 million in the same quarter last year. However, the rise was lower than expected by analysts, who had suggested the airline would make £73 million.

Norwegian, which is the first of the major European low-cost airlines to launch long-haul flights, said demand and advance bookings for the final quarter of the year were 'satisfactory'.

It expects its capacity for the year to end 5% up following its expansion onto long-haul routes.

In the third-quarter it carried 7.7 million passengers, an increase of 9%. Long-haul passenger numbers were up 15%.

"The third-quarter results show that Norwegian's long-haul operations and international routes are becoming significantly more important," said chief executive Bjorn Kjos. " This is where we see most of the future growth potential, enabling the company to compete in a global market with strong competition."

The airline's load factor increased by six percentage points to 91%.

Story Image

Your Comments

, be the first to post a comment.
Your email:

Email other comments made to this story

NOTE: Comments are subject to admin approval before being posted.
Mole Poll
'One in five Brits happy to pay travel agents an annual fee' - Do you receive an annual fee ?
YES 51.43 %
NO 48.57 %

Thank you for your vote

Move scroll bar (above) left to right for more videos!