Norwegian reports strong improvement in earnings and record high load factor in the third quarter
NEW YORK (October 22, 2015) – Norwegian Air, the world’s best low-cost long-haul airline, today reported its results for the third quarter 2015 with a pre-tax (EBT) of $134.3 million (1.1 billion Norwegian Krone), a strong improvement from $61.7 million (505 million Norwegian Krone) from third quarter 2014. The company’s long-haul operations and international routes positively affected the results. Norwegian also reported a record high 91 percent load factor, an increase of six percentage points.
- The airline carried 7.7 million passengers this quarter, an increase of 9 percent.
- The long-haul passenger growth was 15 percent more than 2014’s third quarter result.
- Norwegian’s strongest growth in terms of passenger numbers was at London Gatwick, where the airline operates both long- and short-haul routes.
- The growth at Spanish airports is also considerable.
- In the Nordic countries passenger numbers are stable, with a slight increase in market share.
“The third quarter results show that Norwegian’s long-haul operations and international routes are becoming significantly more important. This is where we see most of the future growth potential, enabling the company to compete in a global market with strong competition,” said Norwegian’s CEO, Bjørn Kjos. “We also see growth in Europe in general. The Scandinavian and European route networks play an increasingly important role in our long-haul strategy, as many of our passengers use connecting flights with Norwegian. The third quarter is also characterized by important milestones, such as the launch of domestic routes in Spain and winter routes between the U.S. and the Caribbean.”
In the third quarter, Norwegian was the recipient of additional international awards, including two Passenger Choice Awards. The company took delivery of five new aircraft, ordered two new Dreamliners and entered into an agreement to lease out 12 of its new Airbus A320neos, which will be delivered from 2016. Norwegian-subsidiary Arctic Aviation Assets Limited owns the aircraft and will be leasing them out for a period of 12 years.
For detailed information, please see the attached PDF. A replay of the third quarter 2015 earnings webcast will be available at 0600 EST. You can also copy and paste this link into your internet browser to access the replay: http://www.norwegian.com/us/about-norwegian/investor-relations.
CFO Frode Foss: +47 91 63 16 45
Chief Communications Officer Anne-Sissel Skånvik: + 47 97 55 43 44
Founded in 1993 and headquartered in Oslo, Norway, award-winning Norwegian Air Shuttle is the third largest low-cost carrier in Europe and the world’s seventh largest. Norwegian offers more nonstop European destinations from the United States than any other European airline with seamless connections across the continent. Norwegian offers 25 nonstop routes from the U.S. to London and Scandinavia, as well as six routes from the U.S. to the Caribbean. Onboard features include more legroom than most competitors and free in-flight Wi-Fi on short-haul routes. The airline carried 24 million passengers last year on the world’s most modern and eco-friendly fleet to its network that stretches across Europe into North Africa and the Middle East, as well as long-haul flights to the U.S. and Southeast Asia – more than 440 routes to 132 destinations. Over 5,500 people in Scandinavia, Europe, Asia, and the U.S. work for Norwegian. Follow @Fly_Norwegian on Twitter, join the discussion on Facebook and keep up with our adventures on Instagram. For more information on Norwegian and its network, visit norwegian.com.