Norwegian reports strong 2015 earnings rise

Norwegian saw 2015 net profit of NOK 75mn (€7.73mn)
Norwegian is reporting that its pre-tax result for 2015 improved by NOK 1.7 billion (€175 million) compared to the previous year. It saw a net profit of NOK 75 million (€7.73 million).
The figure was heavily influenced by an unrealised loss on fuel hedging for 2016 and 2017, which makes up NOK 800 million. Adjusted for this, the 2015 pre-tax result was NOK 875 million, a strong improvement compared to the airline’s loss of NOK 1.168 million in 2014.
The company reported high load factors during 2015, averaging at 86%, up 5 percentage points from the year before. Norwegian carried close to 26 million passengers during the year, a rise of 7% from 2014.
Total revenue was NOK 22.5 billion, an increase of 15%, from 2014. Production growth (ASK) increased by 5%, which the carrier says “illustrates a breather in the company’s expansion, explained by phasing out older aircraft whilst adding new aircraft to the fleet”.
“We enter 2016 with favourable fuel costs and one of the youngest fleets in Europe, which presents a significant competitive advantage,” said CEO Bjørn Kjos. “We see good demand for quality flights at affordable fares, but the unpredictable political decision to introduce passenger tax in Norway is creating an uncertain situation in this market. It is a paradox that the company with the lowest emissions seems to be punished the hardest.”
TTG Nordic

x

Check Also

Norwegian, profit, results, finance, quarter, hedging

Norwegian delivers better-than-expected Q2 results

Europe's third largest low-cost carrier surprised the markets when presenting its Q2 results on Thursday June 12.

SAS, passengers, stats, numbers, figures, Norwegian, monthly, June, 2018, weaker, stronger, routes

SAS sets another passenger record

The airline has broken its previous monthly passenger record from 2014, though it is still behind Norwegian.

Norwegian, Krabi, Bangkok, beach, Thailand, resort, city, holiday, Nordic, scandinavia, Copenhagen, Oslo, Stockholm, days, winter, week

Norwegian to fly to Krabi in Thailand

Flights this coming winter season will go direct to the Thai beach destination from Copenhagen, Stockholm and Oslo.

SAS, Norwegian, airline, history, story, Scandinavia, aviation, Norway, Sweden, Denmark, Pole, flight, intercontinental

Goodbye Scandinavian Airlines System, welcome SAS!

It has been a long and eventful journey for Scandinavia’s premier airline. Now that Norway has sold its remaining shares in the airline, it is the end of an era – and what an era!

Norwegian, behaviour, Norway, airlines, plane, travel, bad, smoking, abusive, passengers, alcohol, fine

Big rise in passenger trouble in Norway

Pilots say that the alarming trend is due to alcohol availability and passengers feeling cramped.

Norwegian, seat, light, weight, slim, space, pitch, tall passengers, MAX, 737, delivery, cabin

Norwegian adds new “slimline” seats to 737 MAX

The airline is introducing slimmer seats, now receiving the first of 12 new-look 737 MAX aircraft this year.