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Norwegian reports positive Q2 results
Scandinavian carrier Norwegian posted a second quarter operating airline profit of NOK651 million (about €60 million).
The liquidity position improved with cash and equivalents over NOK9.3 billion.
As of the quarter-end, Norwegian’s fleet comprised 81 aircraft.
Norwegian carried 5.6 million passengers in the quarter, up from five million passengers in the same quarter of 2022.
Production was up 44% from the previous quarter as Norwegian ramped up capacity ahead of the summer travel season.
Quarterly load factor was also up to 84.4%.
“This quarter demonstrated our ability to ramp up capacity,” said Geir Karlsen, CEO of Norwegian.
Punctuality was 81.5% while 99.5% of flights took off as scheduled.
“The summer season of 2023 will be one of the best in our history, and I am happy that forward bookings remain strong with business travel returning,” Karlsen added.
Norwegian recently announced an intent to acquire Norwegian regional carrier Wideroe.
It expects to complete on the transaction by the end of the fourth quarter of 2023.
Additionally, Norwegian announced a landmark partnership with Norsk e-Fuel to build the world’s first full scale e-fuel plant.
In June, the airline inked a new partnership with Strawberry, formerly Nordic Choice Hotels, to establish a joint loyalty company.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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