Norwegian reported a before tax loss of NOK 1.4 billion in the fourth quarter of 2017, against a surplus of NOK 299 million in the same quarter of 2016.
According to Dagens Næringsliv newspaper, this was even worse than the experts had expected. In advance, analysts had estimated a loss of NOK 771 million, according to TDN Finans.
“Of course, we are not pleased with this result. At the same time, 2017 was characterised by global growth, new routes, high levels of filling and continued fleet renewal. Through our global strategy, we contribute to value creation and new jobs wherever we fly,” said Bjørn Kjos, CEO of Norwegian.
Operating revenues in the fourth quarter were NOK 7.8 billion, an increase of just over NOK 6 billion during the same period in 2016.
Operating profit was a loss of minus NOK 1.025 billion, against a profit of NOK 335 million in the fourth quarter of 2016.
© NTB Scanpix / #Norway Today