Press release - 12 July 2012 07:30

Norwegian reports a pre tax profit of 125 million NOK in Q2

Norwegian (NAS) today reported a pre tax profit of 125 million NOK, an improvement of 50 million from last year. This year’s result has been considerably influenced by the strike among the security staff at airports throughout Norway. The strike cost Norwegian 70 million NOK.

The company’s growth continues and increased by 15 percent in the second quarter. The number of passengers increased by 430,000 (11 percent). The load factor was 76 percent, down 2 percentage points compared to previous year.

“This quarter’s result has, as expected, been considerably affected by high oil prices and additional costs as a result of the strike. However, the underlying result that we present today is significantly better than last year. I am happy that more passengers choose to travel with us and that we can offer them new aircraft with free WiFi on board,” said Norwegian’s CEO, Bjørn Kjos.

By phasing in new and bigger aircraft to the fleet, Norwegian’s operation will become more efficient and competitive. In the second quarter, the company has saved 38 million NOK thanks to its more fuel-efficient aircraft.

So far this year, Norwegian has taken delivery of eight brand new Boeing 737-800s, while five will be delivered from the Boeing factory in Seattle later this year. At the same time, the older 737-300s are being phased out. Following the summer, the average age of the fleet will be 4.9 years. Norwegian’s fleet renewal program enables the company to increase its production considerably, as the new aircraft have larger seat capacity.

Key Figures Second Quarter 2012 (Q2 2011)
Passengers: 4.5 million (4.0 mill)
Revenue: 3.17 BNOK (2.7 BNOK)
Load Factor: 76 percent (78 percent)
EBITDAR: 679.5 MNOK (346.9 MNOK)
EBITDA: 410 MNOK (137 MNOK)
EBIT: 322 MNOK (73 MNOK)
EBT: 125 MNOK (74.5 MNOK)
Net Result: 90.5 MNOK (53.7 MNOK)

Please find detailed report in the pdf attached.
Please find Q2 presentation here.

Media Contacts:
CFO Frode Foss, tel: +47 91 63 16 45
SVP Corporate Communications Anne-Sissel Skånvik, tel: +47 97 55 43 44

Topics

Norwegian Air Shuttle ASA, commercially branded “Norwegian,” is a public low-cost airline noted on the Oslo Stock Exchange. The company is the second largest airline in Scandinavia, and has a route portfolio that stretches across Europe into North Africa and the Middle East. With competitive prices and customer friendly solutions and service, the company has experienced significant growth over the previous years. With close to 16 million passengers in 2011, Norwegian is the 3rd largest low-cost airline in Europe. Norwegian currently operates 64 aircraft on 294 routes to more than 114 destinations and employs approximately 2,500 people.

Contacts

For journalists only

Press contact Norwegian Press Office press@norwegian.com +47 815 11 816

Marketing/sponsorhip requests: marketing@norwegian.com

Press contact Marketing/sponsorship requests: marketing@norwegian.com

Norwegian.com

The Norwegian group is a leading Nordic aviation company, headquartered at Fornebu outside Oslo, Norway. The company has over 8,200 employees and owns two of the prominent airlines in the Nordics: Norwegian Air Shuttle and Widerøe’s Flyveselskap. Widerøe was acquired by Norwegian in 2024, aiming to facilitate seamless air travel across the two airline’s networks.

Norwegian Air Shuttle, the largest Norwegian airline with around 4,700 employees, operates an extensive route network connecting Nordic countries to key European destinations. In 2023, Norwegian carried over 20 million passengers and maintained a fleet of 87 Boeing 737-800 and 737 MAX 8 aircraft.

Widerøe’s Flyveselskap, Norway’s oldest airline, is Scandinavia’s largest regional carrier. The airline has more than 3,500 employees. Mainly operating the short-runway airports in rural Norway, Widerøe operates several state contract routes (PSO routes) in addition to its own commercial network. In 2023, the airline had 3.3 million passengers and a fleet of 48 aircraft, including 45 Bombardier Dash 8’s and three Embraer E190-E2's. Widerøe Ground Handling provides ground handling services at 41 Norwegian airports.

The Norwegian group has sustainability as a key priority and has committed to significantly reducing carbon emissions from its operations. Among numerous initiatives, the most noteworthy is the investment in production and use of fossil-free aviation fuel (SAF). Norwegian strives to become the sustainable choice for its passengers, actively contributing to the transformation of the aviation industry.