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Norwegian reports strong production growth and record high load factor

Press Releases   •   Jul 17, 2014 07:30 BST

Norwegian (NAS) today reported a second quarter 2014 net profit of 128 MNOK. The second quarter is characterized by strong growth and a record high load factor, and influenced by significant, one-off costs, a weak Norwegian currency and high oil prices. The strike from labour union Parat earlier this year alone cost Norwegian over 100 MNOK in lost revenue.

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Norwegian is voted Europe’s best low-cost airline for the second year running

Press Releases   •   Jul 15, 2014 12:55 BST

For the second year running, Norwegian has been voted «Best low-cost airline in Europe» by the renowned SkyTrax World Airline Awards. It is the passengers themselves who have evaluated over 200 airlines worldwide in what is described as the most prestigious award in the airline industry. Norwegian’s CEO Bjørn Kjos received the prize today at Farnborough Air Show.

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Norwegian launches more routes from London Gatwick

Press Releases   •   Jul 14, 2014 11:00 BST

Norwegian continues to expand its route network from London Gatwick by launching four new routes to Madeira, La Palma, Grenoble and Salzburg this winter. In addition, it increases the number of weekly departures on three other routes.

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Presentation of 2nd quarter results 2014

Press Releases   •   Jul 09, 2014 16:04 BST

Norwegian Air Shuttle ASA will release the second quarter results at 8.30 AM (CET) Thursday July 17th. The Company’s CEO Bjørn Kjos will present the results simultaneously at Felix Conference Center, Bryggetorget 3, Aker Brygge, Oslo.


The company will host a conference call for investors and analysts in English at 14:00 (CET). For dial-in details please contact Q@norwegian.com


Norwegian Air Shuttle ASA will release the second quarter results at 8.30 AM (CET) Thursday July 17th. The Company’s CEO Bjørn Kjos will present the results simultaneously at Felix Conference Center, Bryggetorget 3, Aker Brygge, Oslo. The company will host a conference call for investors and analysts in English at 14:00 (CET). For dial-in details please contact Q@norwegian.com

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Norwegian launches a new long-haul route between Copenhagen and Bangkok

Press Releases   •   Jul 09, 2014 07:30 BST

Norwegian continues to expand is long-haul operation by launching a new route between Copenhagen and Bangkok. On 30th October, Norwegian-passengers can fly non-stop between Copenhagen and Bangkok. The new route will operate twice a week and ticket sales start today. Norwegian already offers direct routes between Bangkok and Oslo and Stockholm.

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Norwegian reports major passenger growth and higher load factors in June

Press Releases   •   Jul 07, 2014 07:00 BST

Norwegian carried more than 2.3 million passengers in June 2014, an increase of 21 percent compared to the same month last year. The load factor was 82.5 percent.

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Norwegian’s low-cost service to the U.S. takes off from London Gatwick

Press Releases   •   Jul 03, 2014 19:02 BST

This week Norwegian celebrates its first ever flights between London Gatwick and the U.S. On Wednesday afternoon, the first flight between London Gatwick and Los Angeles took off, while Norwegian’s first flight between London and New York took off this evening. Friday afternoon, the airline celebrates its inaugural flight to Fort Lauderdale. All the flights are almost full.

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Successful placement of new senior unsecured bond

Press Releases   •   Jun 16, 2014 16:03 BST

Reference is made to the notification sent 13th June 2014 regarding a potential new bond issue for Norwegian Air Shuttle ASA ("Norwegian").


Norwegian has successfully completed the book building of NOK 400 million in a new unsecured bond issue with a tenor of 3 years in the Norwegian bond market. In connection with the book building, Norwegian has of days date received acceptances to the buy-back offer of a nominal amount of approximately NOK 200 million in NAS03. The issuance of the new unsecured bond loan and the completion of the buy-back offer is subject to the acceptance by the bondholders of NAS03 of the proposal sent in the summons to the bondholders meeting that will take place on 27 June 2014 (requiring a simple majority in the bondholders meeting). 


The settlement date for the bond issue is expected to be 3 July 2014. Net proceeds from the bond issue will be used for refinancing of existing debt and general corporate purposes. An application will be made for listing of the bonds on Oslo Stock Exchange. 


ABG Sundal Collier and Danske Bank Markets acted as Joint Lead Managers for the placement of the bond issue, and act as advisors for the buy-back offer.


For further information, please contact:
Norwegian Air Shuttle ASA: Frode Foss, CFO, Tel: +47 91 63 16 45
ABG Sundal Collier: Jon Erlend Arnesen, Tel: +47 22 01 60 32
Danske Bank Markets: Petter Westlye, Tel: +47 22 86 13 29


Reference is made to the notification sent 13th June 2014 regarding a potential new bond issue for Norwegian Air Shuttle ASA ("Norwegian").

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Possible new bond issue, summons to bondholders’ meeting, and announcement of buy-back offer in NAS03.

Press Releases   •   Jun 13, 2014 07:58 BST

Norwegian Air Shuttle ASA (“Norwegian”) has today summoned a bondholders’ meeting in the bond issue with ISIN NO 0010642200 maturing in April 2015 (“NAS03”) to be held 27 June 2014.

As indicated in a stock exchange notification to the Oslo Stock Exchange on 2 June, Norwegian has mandated financial advisors to arrange a series of Nordic fixed income investor meetings in order to consider a NOK denominated debt capital markets transaction. As a preparatory measure in this respect, Norwegian has evaluated terms and conditions suitable for such a potential transaction, hereunder relevant financial covenants. Norwegian is pursuing a possible new bond issue, and the revised covenant package will form the basis of such possible issuance. Norwegian appreciates the funding diversification available in the bond market. A new bond issue will be issued if terms and conditions are deemed attractive to Norwegian. Any such bond issue will be subject to a valid vote and approval of the proposal to amend the financial covenants in NAS03, at the bondholders’ meeting in NAS03.

Norwegian’s increasingly asset heavy balance sheet is a conscious strategy choice for the company in order to maintain its competitive advantage and create shareholder and stakeholder value. Unit costs are lower with owned aircraft in comparison with leased aircraft. Its main covenants for capital market instruments should support Norwegian`s strategy goal and be more aligned with Norwegian’s continuous fleet renewal. Norwegian also finds it desirable to implement a uniform set of main covenants across its capital markets instruments.Based on the above, Norwegian does not deem the book equity to capital employed ratio to be aligned with its strategy, and proposes corresponding amendments to the NAS03 bond loan agreement, as further described in the summons letter to the bondholders meeting. Furthermore, Norwegian has announced an offer to buy-back bonds in NAS03, on certain terms and conditions, as stipulated in the summons to the bondholders meeting. Bondholders that consider selling their NAS03 bonds to Norwegian should contact the managers.

ABG Sundal Collier and Danske Bank Markets are advisors to Norwegian, and have been retained as joint lead managers for the possible bond issue and the buy-back offer in NAS03. For further information on the possible bond issue and the buy-back offer, please contact:

Norwegian Air Shuttle ASA: Frode Foss, CFO, Tel: +47 91 63 16 45

ABG Sundal Collier: Jon Erlend Arnesen, Tel: +47 22 01 60 32

Danske Bank Markets: Petter Westlye, Tel: +47 22 86 13 29



Possible new bond issue, summons to bondholders’ meeting, and announcement of buy-back offer in NAS03. Norwegian Air Shuttle ASA (“Norwegian”) has today summoned a bondholders’ meeting in the bond issue with ISIN NO 0010642200 maturing in April 2015 (“NAS03”) to be held 27 June 2014.

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Norwegian reports passenger growth and high on-time performance in May

Press Releases   •   Jun 05, 2014 07:01 BST

Norwegian carried more than 2.1 million passengers in May 2014, an increase of 12 percent compared to the same month last year. The load factor was 77 percent. The strike threats from labor union Parat affected the company’s revenues this month, as many customers in Norway and Denmark refrained from booking flights due to fear of strike.

Contacts 4 contacts

  • Press Contact
  • For customer service:
  • +47 815 21 815 or norwegian.custhelp.com

  • Press Contact
  • Chief Communications Officer
  • ywdalfxjanne-sisflserml.skklanviovk@xinollutwwrwvnbcgmegian.no
  • +47 97 55 43 44

  • Press Contact
  • Communications Manager
  • tfjwahesffaodtlajxssxde.icsaitndjaaker-njmqbielsxeicen@nlsaylzoredngowvaweginctpan.no
  • +47 45 45 60 12

  • Press Contact
  • Investor Relations
  • KarlanxvPeqnppbltehhr.noqlGombriwti@norwegian.fdno
  • +47 92 82 29 69

About Norwegian

Norwegian.com

Norwegian Air Shuttle ASA, commercially branded “Norwegian”, is a low-cost airline listed on the Oslo Stock Exchange. Norwegian is the second largest airline in Scandinavia and third largest low cost carrier in Europe. More than 20 million passengers fly on its network per year. Norwegian has a route portfolio that stretches across Europe into North Africa and the Middle East, as well as long-haul flights to the US and Southeast Asia. The company has a total of 417 routes to 126 destinations and employs approximately 4,500 people in Norway, Sweden, Denmark, Finland, Estonia, UK, Spain and Thailand. The company has 258 undelivered aircraft on firm order. Norwegian was founded in 1993 and its headquarter is in Fornebu, Norway. In 2013, Norwegian was voted Europe’s best low-cost carrier of the year by the renowned SkyTrax World Airline Awards. Norwegian offers better leg room than most competitors, in-flight WiFi, world-class punctuality and a fleet of 96 aircraft with an average age of only 4.8 years.

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