Norwegian Air Shuttle results up nearly 50%

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By TESTCustomwebLP TESTCustomwebLP October 22, 2010 09:35

Norwegian Air Shuttle results up nearly 50%

Norwegian Air Shuttle reported third-quarter net income of NOK528 million ($89.8 million), up 40.9% over NOK374.8 million in the same period last year. It posted a pre-tax profit of NOK733 million, which the airline deemed a record for any quarter. For the nine months to September 30, Norwegian net earnings totalled NOK194.5 million, down 66.3% compared to NOK445.5 million in 2009.

Operating revenues rose 24.5% to NOK2.83 billion, with an operating profit of NOK573.3 million, up 20.5% over NOK475.6 million last year. The rise was thanks to a 25% rise in passengers to 3.8 million, even though operating expenses rose by 24.1% to NOK1.99 billion.

RPKs was at NOK4.29 billion with a 34% rise in ASKs to NOK5.33 billion.

Despite the strong results, CEO Bjorn Kjos said further profits could be made if, he said, the airline was “granted the same conditions as our competitors by the Scandinavian governments”. On the order for 11 737-800s, he says: “When our 737-300 fleet is discontinued in 2012 we will have a cost-efficient and unitary fleet.”

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By TESTCustomwebLP TESTCustomwebLP October 22, 2010 09:35
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