Double digit profit increase for Norwegian Airlines

Victoria
By Victoria February 19, 2013 10:00

Double digit profit increase for Norwegian Airlines

Norwegian (NAS) has reported a pre-tax profit of 623million NOK, an improvement of 457million NOK compared to the previous year. The company’s total fourth quarter revenues was 3.1billion NOK, up 22% compared with the same quarter in previous year. Earnings before taxes (EBT) was 23million NOK, an improvement of 211million NOK. The company carried 4.37 million passengers in the fourth quarter, an increase of 10%.
The total 2012 revenue was 12.9billion NOK – a rise of 22%. Norwegian carried 17.7 million passengers in 2012, up 2 million (13%) compared to 2011. The load factor remains 79%.
“We are pleased with the 2012 results, particularly with an improved result of more than 200 MNOK in a quarter usually less profitable for many airlines. The load factor remains stable and the traffic growth is satisfactory,” said CEO Bjørn Kjos.
“2012 was a year of international expansion and we have had necessary expenses related to the establishment of new operational bases in Thailand and Spain. These startup costs are necessary in order to grow in a global industry. Global expansion also secures Scandinavian operations and employment,” Kjos said.
During 2012, Norwegian took delivery of 13 brand-new Boeing 737-800 aircraft. This year, it will take delivery of an additional 14 Boeing 737-800s and 3 Boeing 787 Dreamliners.
“The fleet renewal gives Norwegian a major competitive advantage in a market where several airlines are struggling with aging fleets and high fuel costs. New, more, environmentally friendly aircraft also give our passengers a much better product, which reflects our strong passenger figures throughout 2012,” said Kjos.

Victoria
By Victoria February 19, 2013 10:00
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