Norwegian reports Q1 loss despite passenger traffic increase

Norwegian reported a first quarter 2023 operating loss (EBIT) of NOK 916 million, with the loss before tax (EBT) amounting to NOK 992 million. The carrier said that its liquidity improved through the quarter with cash and cash equivalents at quarter-end increasing to NOK 8.6bn. The flag carrier reported 3.8 million passengers during the period, up from 1.6 million year-on-year. The load factor was 80.9%, which the Norwegian said showed capacity as “well adjusted to lower demand” due to it being winter. The company said 83.5% of its flights left on time, despite challenges such as poor weather and French