Press Releases • Mar 16, 2018 06:30 GMT
Ahead of this weekend’s St Patrick’s Day celebrations, Norwegian has today launched a special 4-day sale offering passengers savvy savings on selected flights from the UK and Ireland.
Norwegian concludes on accounting treatment of Norwegian Finans Holding (NOFI) - no impact on the book value of equity in Q1 2018
Press Releases • Mar 15, 2018 14:56 GMT
Norwegian have today concluded on the accounting treatment of Norwegian Finans Holding (NOFI), resulting in a change for 2017. This will not have any impact on Norwegian’s book value of equity at 31 March 2018, as the investment in NOFI will be recognized at market value from Q1 2018, instead of the previously announced Q2 2017.
In the interim report for Q4 2017, Norwegian commented that there was a dialogue between the company and Finanstilsynet regarding the accounting treatment of the investment in NOFI. In a recent meeting with Finanstilsynet, Norwegian have been informed that Finanstilsynet recommend accounting treatment for 2017 of the shares according the equity method of accounting. Norwegian have decided to follow the recommendation by Finanstilsynet, resulting in a change in the preliminary full year financial statements presented in connection with the company’s Q4 presentation.
The financial impact on Norwegians accounts for 2017 will be as commented in the interim report for Q4. As of December 31, 2017, this will result in a reduction of the recognized value of the investment by NOK 1,993 million with a corresponding decrease in end balance equity. Effects of a change back to IAS 28 will also reverse financial gains in net profits of NOK 1,657 million, reverse fair value changes recorded in other comprehensive income of NOK 498 million and increase share of profit from associated companies by NOK 163 million.
Norwegian will again recognize the investment at fair value Q1 2018, following the recent changes in the Board of Directors in NOFI. The impact of the financial accounts will reflect the market value of the investment at the time of the transaction, with a financial gain in Q1 2018. The net impact of the equity at 31 March 2018 will be unchanged compared to the current situation. Following these changes, Norwegian expect to have concluded the dialogue with Finanstilsynet.
Lysaker, 15 March 2018
Norwegian Air Shuttle ASA
Tore Østby, Acting CFO
Norwegian is a listed company on the Oslo Stock Exchange and is the world's sixth largest low-cost airline operating over 500 routes to more than 150 destinations in Europe, the U.S. and Asia. In 2017, Norwegian carried more than 33 million passengers. Norwegian has approximately 9.600 employees and a modern, environmentally friendly fleet of more than 140 aircraft with an average age of 3.6 years. The airline was voted Europe’s best low-cost carrier of the year for the fifth year running and World's best low-cost long-haul airline by the renowned SkyTrax World Airline Awards for the third consecutive year.
For more information, visit www.norwegian.com
Press Releases • Mar 12, 2018 08:50 GMT
Press Releases • Mar 06, 2018 15:58 GMT
Norwegian, has launched the world’s first female-driven in-flight entertainment comedy channel in an exclusive partnership with the online comedy platform PYPO, Put Your Pretty On. This is the first of many exciting milestones that will come from this partnership throughout this year.
Press Releases • Mar 06, 2018 07:00 GMT
Norwegian carried more than 2.3 million passengers in February, an increase of 11 percent compared to the same month previous year. The increase is primarily driven by intercontinental expansion.
Press Releases • Feb 28, 2018 10:02 GMT
Airline is adding extra capacity on key US routes from London Gatwick
Press Releases • Feb 26, 2018 09:02 GMT
Norwegian is today continuing its Irish expansion by doubling the number of flights on its popular Dublin-New York service which will allow for day trips to New York State.
Press Releases • Feb 21, 2018 14:00 GMT
Norwegian, the World’s Best Low-Cost Long-Haul Airline and Airline of the Year 2017, today took delivery of its 100th direct buy Boeing 737-800 aircraft, the last of this aircraft type in its fleet.
Norwegian reports 2017 full year results influenced by global expansion, fleet renewal and extraordinary costs
Press Releases • Feb 15, 2018 06:00 GMT
Norwegian today reported its full year and fourth quarter 2017 results. The net loss was -299 million NOK (-£27.4 million) in 2017, while the earnings before interest, taxes and depreciations (EBITDA) was 60 million NOK (£5.5 million).
Press Releases • Feb 14, 2018 15:10 GMT
Airline grows long-haul network with first route to Buenos Aires Valentine’s Day celebration as the new route to the ‘Paris of South America’ takes off Affordable fares from £259.90 one-way break current monopoly on direct London to Argentina flights
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Norwegian is a listed company on the Oslo Stock Exchange and is the world's sixth largest low-cost airline operating 500 routes to 150 destinations in Europe, North Africa, Middle East, Thailand, Caribbean, the U.S and South America. In 2017, Norwegian carried around 33 million passengers. Norwegian has almost 9,000 employees and a... Show more
Norwegian is a listed company on the Oslo Stock Exchange and is the world's sixth largest low-cost airline operating 500 routes to 150 destinations in Europe, North Africa, Middle East, Thailand, Caribbean, the U.S and South America. In 2017, Norwegian carried around 33 million passengers. Norwegian has almost 9,000 employees and a modern, environmentally friendly fleet of more than 150 aircraft with an average age of 3.6 years. Norwegian has been voted ‘Europe’s best low-cost carrier’ by passengers for five consecutive years at SkyTrax World Airline Awards from 2013-2017, along with being awarded the ‘World's best low-cost long-haul airline’ in 2015, 2016 and 2017.
For more information, visit www.norwegian.com