Published on Thursday, February 15, 2018

Norwegian announces heavy loss

Rapidly expanding Norwegian today blamed higher fuel prices and other 'significant costs', including 'passenger care', for its £27.4 million net loss last year.

However, the airline insisted it was in a 'far better position' this year, with stronger bookings and a better staffing situation.

"We are not at all satisfied with the 2017 results. However, the year was also characterized by global expansion driven by new routes, high load factors and continued fleet renewal," said CEO Bjorn Kjos.

"Through our global strategy, we contribute to local economic boost and increased employment at our destinations, as well as ensuring that more people can afford to fly - not least between the continents.

"In 2017, we received several major international customer awards, which would never have been possible without our dedicated colleagues at Norwegian.

"Norwegian is far better positioned for 2018, with stronger bookings, a growing network of intercontinental routes complementing our vast European network and not least, a better staffing situation. Our major global expansion reaches its peak in the second half of 2018, when 32 of our 42 Dreamliners on order will have been put into service."

Norwegian yesterday launched a new service from London to Buenos Aires.

Its total revenue was £2.8 billion in 2017, up 19% on 2016. It carried more than 33 million passengers throughout the year, up 13% on 2016.

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