Fuel and a weak krone brought losses for Norwegian

A Norwegian plane takes off from Oslo AirportOslo Airport Gardermoen. A Norwegian plane takes off from Oslo Airport : Jon Olav Nesvold / NTB scanpix
Norwegian had a pretax loss of around NOK 700 million in the last quarter. The stated reason for this is a weak krone and expenses of securing fuel for 2016.
At the same time this is an improvement from the losses for about 1.2 billion in the same period in 2014.
– We are entering 2016 with favorable fuel hedges and one of Europe’s newest fleets. Thia is a significant competitive advantage. In general, we see a good demand for air travel, says CEO Bjørn Kjos in a comment on the figures.
– At the same time, the unpredictable political decision on new flight taxes in Norway creates uncertainty for the entire airline industry. It is a paradox that the company that has the lowest emissions seems to be company that will punished the hardest, he continued.
For the full year the pretax numbers  is at NOK 75 million, a sum that is strongly affected by the company securing its fuel for 2016 and 2017. According to Norwegian, it constitutes NOK 800 million.
The revenues in 2015 were at NOK 22.5 billion in total, which is an increase of 15 percent from the year before
Source: NTB scanpix / Norway Today

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