Norwegian Reports 2016 Net Profit of More than NOK1.1bn

Photo: airwaysnews.com

Global expansion driven by new routes, high load factors and continued fleet renewal, contributed to Norwegian’s best ever annual result, with a net profit of NOK1,135m (£109m).

Operating profit (EBIT) was NOK1,820m. The results are influenced by Norwegian’s international growth, particularly on intercontinental routes, as well as increased presence in the UK and Spain.

The company’s total revenue was more than NOK26bn (£2.5bn) – an increase of 16%. The company took delivery of 21 brand new aircraft in 2016, contributing to a production growth (ASK) of 18%. The load factor increased by 1.5 percentage points to 88%. A total of 29.3 million passengers chose to travel with Norwegian in 2016, an increase of 14% compared to the previous year.

For the fourth quarter, the net profit was NOK197m, total revenue was more than NOK6.1bn, an increase of 15% from the same period last year, primarily driven by international growth as well as an increased traffic in the Nordics. Just over 7 million passengers flew with Norwegian this quarter, a growth of 17%. The load factor was 86%.

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Source: avitrader.com

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