The Norwegian Group with increased capacity and passenger growth in the second quarter

The Norwegian Group delivered an operating profit (EBIT) of NOK 593 million in the second quarter of 2024. The quarter was characterised by strong capacity and passenger growth, but also slightly lower demand impacting ticket prices. In the quarter, the company performed well operationally, with improved cost level and strong cash flow.

For the second quarter of 2024, the Norwegian Group had an operating profit (EBIT) of NOK 593 million, corresponding to an operating margin of 6.3 percent. Profit before tax (EBT) amounted to NOK 477 million for the quarter. The liquidity position improved to NOK 11.5 billion at the end of the quarter, up 1.1 billion from the previous quarter. The Norwegian fleet comprised 86 aircraft at quarter-end, of which 22 aircraft were the latest technology 737 MAX 8 aircraft. The Widerøe fleet comprised 49 aircraft.

“We have delivered good operations in the second quarter amidst a hectic ramp-up into the summer season, and I am glad that Norwegian in May once again was named Europe’s most punctual airline. Both Norwegian and Widerøe are delivering strong passenger growth. With an increasing number of routes, frequencies and destinations, we look forward to welcoming passengers on board,” said Geir Karlsen, CEO of Norwegian.

In the second quarter, the Norwegian Group had 7.3 million passengers, of which 6.3 million were passengers of Norwegian and 1.0 million of Widerøe. Compared to the same period last year, the number of passengers increased by 680,000 and 122,000 for Norwegian and Widerøe respectively. For Norwegian, production (ASK) increased by 19 percent to 10.3 billion seat kilometres, while for Widerøe the production increased by 2 percent. The quarterly load factor for Norwegian was 82.4 percent, down two percentage points from the same period last year. For Widerøe, the quarterly load factor was 70.2 per cent, an improvement of more than five percentage points from last year. The second quarter of 2024 marked the first quarter in which Widerøe is operating under the new public service obligation (PSO) tender contracts that came into effect on 1 April.

Norwegian group had 2.6 million passengers in June

In June, Norwegian had 2,245,735 passengers while Widerøe had 346,747 passengers, totalling 2,592,482 for the group. This represents an 11 percent increase in passengers since last June for Norwegian and a 6 percent increase for Widerøe. The group revises its profit outlook for 2024 downwards and provides an updated unit cost forecast.

“I am pleased about the double-digit percentage increase in passengers travelling with Norwegian compared to June last year, as well as the positive passenger figures for Widerøe. Primarily due to a significant capacity increase on longer flights, Norwegian experienced a slight decrease in yield and load factor. We are excited to continue serving a growing number of customers as they embark on their summer holidays,” said Geir Karlsen, CEO of Norwegian.

The capacity (ASK) was 3,706 million seat kilometres, up 18 percent from the same period last year. Actual passenger traffic (RPK) was 3,126 million seat kilometres, an increase of 16 percent from June 2023. Load factor has improved compared to April and May, while being down 1 percentage point from June 2023. In June, Norwegian operated with a regularity, meaning share of scheduled flights taking place, of 99.4 percent. The punctuality, meaning share of flights departing within 15 minutes of scheduled time, was 75.0 percent, down 1.4 percentage points from June last year. However, 96 percent of all flights arrived within 60 minutes of scheduled arrival time. The airline operated an average of 86 aircraft.

Expansion in the North

New Norwegian flight coming soon.....

Norwegian is set to start a new route between London Gatwick Airport and Harstad-Narvik Airport in Evenes, Northern Norway.

The area attracts thousands of visitors to experience the northern lights and beautiful Arctic wilderness and the launch of this new route also connects residents of Northern Norway to the south of England, including the UK's bustling capital, London. 

Harstad-Narvik airport in Evenes gives easy access to some of Northern Norway’s most beautiful areas like the Lofoten islands. This northerly region has become a year-round destination for nature lovers with its cooler summers and midnight sun making hiking conditions ideal to experience the jaw-droppingly beautiful nature. The winter season gives visitors the best opportunity to experience the northern lights in the cold, dark Arctic skies.

“We are excited about Norwegian’s new flight route from from London Gatwick to Harstad-Narvik airport in Evenes. Evenes serves as the gateway to the stunning beauty of the Lofoten region, the international ski resort Narvikfjellet, the unique whale experiences in Vesterålen, and much more. These new routes will provide easier access to this region's natural beauty and extraordinary attractions. We anticipate this will boost year-round tourism and positively impact on our local economy, representing a significant milestone for our community. Additionally, these routes will offer locals a never-before-seen access to these popular destinations”, said Vegeir Selboe, Marketing Manager in Destination Lofoten.

The summer programme continues for Norwegian group with 2.5 million passengers in May

In May, Norwegian had 2,138,484 passengers, while Widerøe had 333,492 passengers, totalling 2,472,976 for the group. Capacity for Norwegian was up 19 percent compared to May last year, while the load factor was down 2 percentage points to 82 percent. The airline operated an average of 84 aircraft this month, as the summer programme is approaching cruising speed. For Norwegian, May also brought a solid 12 percent increase in passengers compared to last year.

“I’m satisfied with the passenger numbers in May. About 650,000 of our passengers travelled to southern Europe destinations in May. The average flying distance increased 7 percent, demonstrating our significant capacity growth to beach destinations. Our capacity has been significantly increased overall for the summer season, and we look forward to welcoming even more passengers through the busy summer holidays,” said Geir Karlsen, CEO of Norwegian.

The capacity (ASK) was 3,466 million seat kilometres, up 19 percent from the same period last year. Actual passenger traffic (RPK) was 2,843 seat kilometres, an increase of 16 percent from May 2023. In May, Norwegian operated with a regularity, meaning share of scheduled flights taking place, of 99.5 percent. The punctuality, meaning share of flights departing within 15 minutes of scheduled time, was 86.1 percent, up 1.2 percentage points from May last year.

Widerøe delivering good numbers

Norwegian and Strawberry agree on jointly owned loyalty company

Norwegian and Strawberry have agreed on a joint platform for their 10-million-member strong loyalty programmes Norwegian Reward and Strawberry. Following the initial announcement in June last year, the arrangement has now been fully agreed and the jointly-owned company is up and running.

The value proposition to both the members and partners has been improved compared to what was originally envisioned. The structure of the joint venture has been changed such that a majority of the loyalty programme value remains within Norwegian and Strawberry respectively, and Norwegian will not recognize the initial accounting gain previously announced. In the new setup, Norwegian and Strawberry will each hold 50 percent ownership of the joint company from start. Final closing of the transaction took place today, with a market launch targeted for the second half of 2024. Following this revised transaction structure, the agreement with the financial service partner Avida will be revised to support the structure of the joint venture.

1,892,362 passengers flew with Norwegian in April, while Widerøe had 315,495 passengers

In April, Norwegian had 1,892,362 passengers, while its regional subsidiary,  Widerøe had 315,495 passengers, totalling 2,207,857 for the group. Capacity for Norwegian was up 18 percent compared to April last year, while the load factor was 80.3 percent. The airline operated an average of 81 aircraft this month, up from 73 in March, as the summer programme gets up to full speed. Regularity was negatively impacted in April, in large part due to ATC issues in Norwegian airspace.

“April marked a significant ramp up in capacity and we had on average 14 more aircraft in operation compared to the same month last year. The passenger numbers show an increase of 13 percent compared to the same period last year. We are pleased that many customers now book their summer holiday with us and advise customers that have specific dates in mind to book early,” said Geir Karlsen, CEO of Norwegian.

The capacity (ASK) was 3,155 million seat kilometres, up 18 percent from the same period last year. Actual passenger traffic (RPK) was 2,533 million seat kilometres, an increase of 14 percent from April 2023. The load factor for April was 80.3 percent, down three percentage points, in part due to the early Easter that this year predominantly fell in March. In April, Norwegian operated with a regularity, meaning the share of scheduled flights taking place, of 98.8 percent. 51 percent of all cancelled flights took place on 25 April, with both ATC strikes in Europe and the closure of airspace in Norway having large impacts on Norwegian and other airlines’ operation. The punctuality, share of flights departing within 15 minutes of scheduled time, was 81.3 percent, down two percentage points from April last year.

Budget airline Norwegian reports loss of NOK 763 million in the first quarter 2024

Norwegian recorded an operating loss (EBIT) of NOK 763 million for the group in the first quarter of 2024. The results were significantly improved compared to first quarter 2023, even though this quarter was impacted by a weaker Norwegian krone. Norwegian’s liquidity position improved to NOK 10.4 billion in a quarter which includes the successful acquisition of Widerøe.

For the first quarter of 2024, the Norwegian Group had an operating loss (EBIT) of NOK 763 million, compared to an operating loss of NOK 916 million in the same quarter last year. Operating profit was negatively impacted by currency revaluation effects resulting in a net loss of NOK 126 million for other losses/(gains) this quarter. Norwegian’s liquidity position improved through the first quarter to NOK 10.4 billion, including cash settlement for the Widerøe acquisition. The Norwegian Group fleet, including Widerøe, comprised a total of 136 aircraft, 87 aircraft for Norwegian and 49 for Widerøe.

“The significant improvement compared to 2023 is a clear sign that our many initiatives, both on revenues and costs, have the desired effect and move us in the right direction. Furthermore, we have increased our capacity for the season ahead with new routes and frequencies and are very much looking forward to welcoming a busy summer flying passengers to attractive destinations all over Europe,” said Geir Karlsen, CEO of Norwegian.

The Norwegian Group had 1.8 million passengers in March

In March, Norwegian had 1,544,289 passengers, while Widerøe had 276,413 passengers, totalling 1,820,702 for the group. The load factor for Norwegian increased to 85 percent, up 4 percentage points compared to March last year. Norwegian recorded a strong regularity of 99.6 percent in March, while on-time performance also improved compared to previous months.

“We are delighted to publish strong traffic figures yet again, this month got an extra boost thanks to the early Easter holiday. The high regularity we had in March reflects the great work all our colleagues do every day to make sure our customers can trust Norwegian for all their travels. This is especially important over Easter with so many customers having planned their vacation trips, and I am proud to say that we had zero cancellations for all our international flights. We are now looking ahead to the next vacation season and are this week kicking off with a "Spring Sale" campaign. The booking trends for the summer season are beginning to look very good, but we naturally anticipate a weaker April as a result of the Easter holiday coming early this year,” said Geir Karlsen, CEO of Norwegian.

Norwegian had 1,544,289 passengers in March. The capacity (ASK) was 2,441 million seat kilometres, up 4 percent from the same period last year. Actual passenger traffic (RPK) was 2,075 million seat kilometres. In March, Norwegian operated an average of 73 aircraft with a regularity, meaning the share of scheduled flights taking place, of 99.6 percent. The punctuality, which is the share of flights departing within 15 minutes of scheduled time, was 86.7 percent, up 6 percentage points from March 2023.

Celebrating 20 years of flights between Norway and Italy

On April 2. 2004, the first ever Norwegian flight bound for Italy, took off from Oslo at 16.20 with 144 passengers of board headed to Pisa. Since then, Norwegian have flown more than 3,5 million passengers between Norway and Italy.

Historical and vibrant cities, magnificent beaches, beautiful lakes and the world’s best pizza, pasta and ice cream is reason enough to visit the Mediterranean country.

“Italy has so much to offer tourists from the Nordic countries and based on a growing interest from our customers we launched several new routes last year. This summer we will fly to 11 destinations, operating 19 routes with 13 daily flights to and from Italy,” said Magnus Thome Maursund, Chief Commercial Officer at Norwegian.

Since the first flight to Pisa, Norwegian have since expanded its route network. This summer Northerners and Italians can fly between Milan, Rome, Verona, Naples, Sardinia, Sicilia, Venezia, Bergamo, Bologna and Bari.

The Norwegian Group had 1.5 million passengers in February

In February, Norwegian had 1,281,212 passengers, while Widerøe had 257,826 passengers, totalling 1,539,038 passengers for the group. Norwegian increased its load factor to 86 percent in February, up 2 percentage points compared to the same period last year and close to the highest-ever load factor Norwegian has recorded for the month of February.

“We are delighted to once again publish strong traffic figures, demonstrating the continued trust and value our customers place on the Norwegian product and our colleagues. A load factor of 86 percent is close to the highest ever recorded for the month of February. Booking trends continue to be solid across all markets and many flights are selling out for the Easter holiday period. We are grateful for the increasing number of passengers that choose to fly Norwegian, and look forward to welcoming them on board," said Geir Karlsen, CEO of Norwegian.

Norwegian had 1,281,212 passengers in February. The capacity (ASK) was 1,951 million seat kilometres, up 7 percent from the same period last year. Actual passenger traffic (RPK) was 1,676 million seat kilometres. In February, Norwegian operated an average of 68 aircraft with a regularity, meaning the share of scheduled flights taking place, of 99.4 percent. Punctuality, which is the share of flights departing within 15 minutes of scheduled time, was 81 percent.

Norwegian and Widerøe cooperation bearing fruits

Norwegian delivered a record strong operating profit of NOK 2,232 million for 2023

European airline Norwegian Air Shuttle has just released details of its fourth quarter and preliminary full-year results for 2023, which show the carrier achieved an operating profit of NOK 2,232 million, the highest in company history. 

The firm says its liquidity position improved to NOK 9.5 billion at year-end, which means shareholders will get a dividend of about 60 øre per share. 

For the full year of 2023, the operating margin was 9 percent, also a record high for the company. For the fourth quarter of 2023, the company delivered an operating profit (EBIT) of NOK 328 million. Profit before tax (EBT) amounted to NOK 1,804 million for the full-year of 2023 and NOK 208 million for the quarter. The Norwegian fleet comprised 87 aircraft at year-end, of which 20 aircraft were the latest 737 MAX 8 aircraft. 

“I am thrilled to announce that Norwegian achieved all-time high profits for 2023. Our loyal customer base continued to grow, and we are grateful for their trust in us. Colleagues across the entire company have worked tirelessly to ensure operational excellence, ranging from the planning of our network and services to everyday execution,” said Geir Karlsen, CEO of Norwegian.

More passengers, higher load factor

Norwegian had 4.7 million passengers in the quarter, up from 4.6 million passengers in the fourth quarter of 2022. Production (ASK) was 7.1 billion seat kilometres, while passenger traffic (RPK) was 6.0 billion seat kilometres. Compared to the previous quarter, capacity was down 32 percent as the company reduced its production to match seasonally lower demand during the winter period. The quarterly load factor was 84.4 percent, up three percentage points from the same period the previous year.

Punctuality, share of flights departing on schedule, was 81.5 percent, down from 82.3 percent in the same period the previous year. While punctuality fell in December as winter weather condition impacted operational performance at key airports, the airline managed through relentless efforts to ensure that close to all passengers made it home for the festive period. Cirium, the global aviation consultancy named Norwegian Air Shuttle (DY) Europe's most on-time airline in October and the fifth most punctual airline for 2023. It also ranked the airline as Europe’s top performer on regularity.

Widerøe acquisition completed

In January, Norwegian completed the acquisition of Widerøe, a regional carrier in Norway with a fleet of 48 aircraft, predominately turboprops. The acquisition of Widerøe will enable the linking of complementary route networks, create significant operational synergies, and provide Norwegian with additional diversification through Widerøe's substantial public service obligation (PSO) operations.

Norwegian improves company score in global climate CDP ranking

Norwegian improves and receives the highest possible score in several categories for its emission reduction initiatives in this year’s global climate ranking from the international organisation CDP. Norwegian receives an overall score B and the highest possible score in the categories for risk management processes, risk disclosure, and in reporting and verification of direct and indirect energy supply emissions (Scope 1 and 2).

The CDP (Carbon Disclosure Project) is an environmental organisation for the global environmental disclosure system. The CDP publishes annual results for climate ranking. Norwegian’s strategy for reducing climate impact is measured in several categories and for 2023, the airline receives an overall score B, which is an improvement from last year. This is an important recognition to Norwegian’s commitment to reduce greenhouse gas emissions.

“We have committed to ambitious targets and are actively taking measures to reduce the company’s climate impact. It is therefore both rewarding and motivating to see that the hard work we are doing, leads to improvement in more categories than before. This means a lot to us and confirms that our strategy is working,” said Anders Fagernæs, Vice President Sustainability at Norwegian.

Norwegian started disclosing its effort to tackle climate change through CDP in 2021 and has made considerable progress with positive results. Working with transparency via Carbon Disclosure Project is a central element in Norwegian’s response to the increasing demand for environmental transparency from investors, financial institutions, customers and policymakers.

“We have a strategy for reducing the company’s climate impact, and we believe that the most efficient tool in the nearby future is to increase the use of fossil-free fuels. Besides fossil-free fuels, fleet renewal and advanced weather systems for more fuel-efficient navigation, are additional measures with immediate emissions reduction. We believe that transparency, reporting and openness will make it easier for customers to make qualified choices,” said Fagernæs.

Bumper January for Norwegian..........1,138,621 passengers travel with the airline

In January, the European budget carrier Norwegian Air Shuttle carried 1,138,621 passengers, securing a load factor of 83.1%.  The capacity (ASK) was 1,820 million seat kilometres, down 3 percent from the same period last year. Actual passenger traffic (RPK) was 1,512 million seat kilometres. In January, Norwegian operated an average of 63 aircraft with a regularity, meaning the share of scheduled flights taking place, of 99.0 percent. Punctuality was affected by the severe winter weather and the share of flights departing within 15 minutes of scheduled time was 76.7 percent.

“Our operations during the winter season are affected by seasonal weather and particular winter storms. I would like to give thanks to the tireless effort of our colleagues, who have ensured that our disruptions are kept to a minimum, to the benefit of our many customers,” said Geir Karlsen, CEO of Norwegian.

Meanwhile, Norwegian's recent purchase - Widerøe welcomed 246,326 passengers during the month, taking the Norwegian Group's total number of passengers to 1,384,947.  

"For the first time, our traffic figures include those of Widerøe, and in total, Norwegian and Widerøe had 1.4 million passengers on board in the first month of the year. For Norwegian, it is very positive that the load factor increased by five percentage points compared to January last year. Demand to beach destinations continues to perform in the high-end of our expectations with many of our customers opting for some warmer Mediterranean weather," said Geir Karlsen, CEO of Norwegian.

For 2024, Norwegian has hedged jet fuel corresponding to approximately 50% of projected consumption at levels close to current forward prices.

In December, the Norwegian Competition Authority approved Norwegian’s acquisition of Widerøe, and the transaction was completed 12 January. Work has already begun to ensure that organisations deliver on shared goals with the aim of delivering better overall customer offerings with seamless travel and increased travel options. One example involves the changing of Norwegian’s ground handling provider to Widerøe Ground Handling, which took effect from 1 February at many airports across Norway.

The above report on the monthly traffic numbers now also includes numbers from Widerøe which is attached on page two. Widerøe increased its production in January with 4 percent compared with the same period last year, while the number of passengers increased with 8 percent. The load factor was up 3 percentage points.

Many industry commentators are wondering what Norwegian's long-term strategy after the company recently invested in Norsk e-Fuel, which will establish what could be the world's first large-scale production facility for electrofuel. The fossil-free jet fuel will be produced at a plant in Mosjøen in Nordland. The partnership will give Norwegian early access to essential fossil-free aviation fuels.

Norwegian becomes co-owner of Norsk e-Fuel

Norwegian is now a shareholder in Norsk e-Fuel. The company will establish what could be the world's first large-scale production facility for electrofuel. The fossil-free jet fuel will be produced at a plant in Mosjøen in Nordland. The partnership will give Norwegian early access to essential fossil-free aviation fuels.

In 2023, Norwegian and Norsk e-Fuel signed a strategic partnership agreement to build the world's first large-scale production facility for electrofuel in Mosjøen, northern Norway. Electrofuel, often called e-fuel, is a fossil-free aviation fuel that can be used in today's aircraft. The partnership is an important milestone towards Norwegian's goal of reducing emission by 45 percent by 2030.

"This agreement marks the start of a pioneering partnership that will accelerate the transition to fossil-free fuels in aviation and give us access to a product that will be available in limited quantities. Increased production of this type of fuel is essential in the years to come if we are to succeed in the transition to more sustainable aviation. I am very pleased that we have the resources, expertise and technology to do this with Norsk e-Fuel in Norway, and that together we can contribute to the development of a new industry in Norway and create local jobs, said Geir Karlsen, CEO of Norwegian.

Norwegian pilots happily taking more than 1.3 million people for a ride in December 2023.

In December, Norwegian had more than 1.3 million passengers and recorded a strong load factor of 83.6%, 6 percentage points higher than December 2022. Throughout 2023, Norwegian carried over 20 million passengers, a 16 percent increase from the previous year.

“With 1.3 million passengers in December, a total of more than 20 million passengers chose to travel with us in 2023. Our load factor has increased significantly from December 2022, and I am happy to see these solid results. It is also encouraging to see that the positive booking trend we saw through 2023 seems to continue into 2024. Our customers are now planning and booking their next travel adventure with many taking advantage of our New Year’s sale that was launched recently,” said Geir Karlsen, CEO of Norwegian.

Norwegian had 1,308,441 passengers in December, close to the same number as in December 2022. The capacity (ASK) was 2,013 million seat kilometres, down five percent from the same period last year. Actual passenger traffic (RPK) was 1,684 million seat kilometres. In December, Norwegian operated an average of 65 aircraft with a regularity, meaning the share of scheduled flights taking place, of 99.5 percent. Punctuality was affected by the winter storm Pia and the share of flights departing within 15 minutes of scheduled time was 70.4 percent. However, 93 per cent of all departed flights arrived on schedule or within one hour of scheduled arrival time.

For 2023 as a whole, Norwegian had 20.6 million passengers, an increase of 16 percent from the previous year, the capacity was up by a total of 18 percent, while the load factor increased by 2 percentage points to 84.7percent.

1,348,111 passengers flew with Norwegian in November

Norwegian had 1.3 million passengers and a load factor of 82.3 percent in November. Norwegian is still experiencing robust demand for air travel. Regularity was record-high with 99.9 percent of all scheduled flights taking place.

“Norwegian has delivered very solid traffic numbers in a month where seasonal demand is normally at a low point. We have adjusted our capacity considerably to meet the fluctuating demand in the winter, and we are particularly satisfied with our strong load factor of 82.3 percent, up three percentage points from November last year. Additionally, we have delivered an outstanding performance when it comes to regularity with close to all of our almost 10,000 flights taking place in November,” said Geir Karlsen, CEO of Norwegian. 

Norwegian had 1,348,111 passengers in November, down two percent from November 2022 and in line with the significantly reduced capacity to match the low season. The capacity (ASK) was 2,004 million seat kilometres, down six percent from the same period last year. Actual passenger traffic (RPK) was 1,650 million seat kilometres. In November, Norwegian operated an average of 66 aircraft with a regularity, share of scheduled flights taking place, of 99.9 percent. Punctuality remained high, and the share of flights departing within 15 minutes of scheduled time was 86.8 percent.

Continued strong demand and well-received summer programme

Norwegian recently released new routes for the summer season of 2024, including forty routes to new destinations. The summer programme release, as well as a recent sales campaign, has been very well received by Nordic travellers.

“At Norwegian, we continue to see strong demand for air travel. Many of our customers took advantage of our latest sales campaign to book their next journeys. Our newly launched summer programme has been well received, and we notice that travellers have already started to plan their flights for 2024, earlier than last year,” said Karlsen.

While the Christmas and New Years period will be a busy travel period in line with expectations, Norwegian is well positioned navigate the quieter winter trading season. In addition to capacity adjustments, the airline is comfortably hedged for jet fuel at attractive prices for the coming year.

Norwegian to launch 40 new routes for summer next year.

European budget airline Norwegian is to add a whole host of new routes to its schedule for summer next year the carrier confirmed this week. 

 A total of 40 new routes have been added to the programme with nine new routes from Norway, seventeen new routes from Denmark, nine from Sweden and two new routes from Finland. 

There will also be new point-to-point routes between Malaga-Munich, Alicante-Munich, Riga-Corfu, and Riga-Tivat in the summer schedule for next year which will mean Norwegian will be flying 332 routes to 123 destinations.  The new Munich-Malaga and Munich-Alicante routes will operate throughout the summer season, as will the routes Riga-Corfu and Riga-Tivat.

Magnus Thome Maursund, Chief Commercial Officer in Norwegian said:  “Launching these new routes expands our network and offers our customers more choice. From our bases in Europe, we are also starting new point-to-point routes. We are looking forward to a busy summer season and to welcoming our customers on board,”

Norwegian adds Basel, Lyon, Montpellier, Pristina, Zadar and Bari amongst other destinations to the summer programme. A new route between London Gatwick and Gothenburg will operate with four weekly flights from 2 May. The carrier expects to have a fleet of just over 90 aircraft for summer 2024. 

“Our exiting new destinations will take travellers to vibrant European cities and destinations with crystal clear waters and sandy beaches. Our job is to make sure we get our customers to where they want to go and that their journey is as pleasant and smooth as possible,” said Magnus Thome Maursund.

Norwegian carried more than two million passengers during October

Norwegian had 2.1 million passengers and a load factor of 86.1 percent in October. Air travel demand was particularly high during the Nordic autumn holidays when many travellers flew to destinations across Europe. Regularity was high with 99.4 percent of all scheduled flights taking place.

“We are very satisfied with October’s traffic figures. Many Nordic customers took advantage of the autumn holidays, prolonging the summer season with trips to our many popular city and beach destinations across Scandinavia and Europe. I am particularly happy to see that we have managed to reduce our CO2 emissions by four percent compared to the same period last year, thanks to flying more modern aircraft and using the latest technology when navigating in the air,” said Geir Karlsen, CEO of Norwegian.

Norwegian had 2,066,296 passengers in October, up 10 percent from October 2022. The capacity (ASK) was 3,115 million seat kilometres, while actual passenger traffic (RPK) was 2,683 million seat kilometres. In October, Norwegian operated an average of 78 aircraft with a regularity, share of scheduled flights taking place, of 99.4 percent. Punctuality, the share of flights departing within 15 minutes of scheduled time, was at 85.0 percent in October. However, a total of 98 percent of all departed flights arrived on schedule or within one hour of scheduled arrival time.

Well prepared for winter season ahead

“We recently published our financial results for what has been one of the absolute strongest quarters in our 21-year history. We are well prepared for the quieter winter trading period with reduced capacity and favourable hedging position on fuel, among other actions. Our ticket sales for Christmas and New Year are solid, both domestically and to our European destinations, and I would like to thank the increasing number of Nordic travellers who choose to fly with us for leisure and business,” said Karlsen.

Norwegian recently signed an agreement with TUI, one of Europe’s leading charter travel operators, to operate flights on behalf of TUI from Norway, Sweden, and Denmark to destinations across Europe. And while current booking trends have slowed somewhat in line with seasonal fluctuations in demand, the ticket sales for the coming months remain encouraging, both for leisure and business travels.

Norwegian reports a profit of 2 billion ......

Norwegian delivered a profit before tax (EBT) of NOK 2,050 million in the third quarter of 2023, the second-best quarterly result in the 21-year history of the company. Norwegian has had a very strong summer, both operationally and financially, and also delivered best-in-class on punctuality and regularity in Europe.

For the third quarter of 2023, Norwegian delivered an operating profit (EBIT) of NOK 2,170 million, corresponding to an EBIT margin of 25 percent. This is the highest operating profit in company history after the third quarter of 2019, when the fleet was about twice as large. Profit before tax (EBT) amounted to NOK 2,050 million. The liquidity position increased to NOK 9.4 billion, while the company also repaid the NAS13 bond as part of the ongoing process to ensure that the company has a capital structure fit-for-purpose. At quarter-end, Norwegian's fleet comprised 85 aircraft.

Norwegian had 6.5 million passengers in the quarter, up from 6.1 million passengers in the third quarter of 2022. Production (ASK) was 10.4 billion seat kilometres, while passenger traffic (RPK) was 9.1 billion seat kilometres. Production was up 20 percent from the previous quarter as Norwegian ramped up capacity into the summer, the busiest travel season of the year. The quarterly load factor was 87.4 percent, compared to 88.8 percent in the same period last year.

Norwegian to continue to supplement scheduled operation with charter flights for Tui

Norwegian and Tui sign agreement on charter flights

The budget airline Norwegian has agreed to continue to operate charter flights for Tui during the upcoming winter and summer seasons to supplement its scheduled service income. Norwegian will operate flights on behalf of Tui from Norway, Sweden and Denmark to European destinations.

“We enjoy great cooperation with Tui, and we are delighted to continue this into the coming winter and summer seasons. Tui is the largest charter operator and connects customers to many popular leisure destinations. As we continue to modernise our fleet, we are looking forward to welcoming many new customers onboard and making sure they have a brilliant start to their holidays”, said Magnus Thome Maursund, Chief Commercial Officer at Norwegian.

Tui is Norwegian’s largest charter customer. The newly signed agreement is valid through the coming winter and summer seasons and Norwegian will fly 70 % of Tui’s charter operations in the Norwegian market.

“We are happy to renew our partnership with Norwegian. Like Tui, Norwegian is an established operator with high trust among the travellers in Scandinavia. The airfare is an important part of the travel experience and of high priority for us in Tui, and feedback from our customers surveys show that Norwegian is doing an excellent job”, said Tommy Serban, Commercial Officer at TUI Nordic.

Norwegian will operate charter flights for Tui from several regional and main airports in Norway and Sweden as well as from Copenhagen in Denmark.

Norwegian is the largest airline in Norway and one of Europe’s leading low-cost carriers. The company has approximately 4,500 employees and offers a comprehensive route network within Norway, between Nordic countries and destinations throughout Europe.