Norwegian lost 849 million kroner in operations in the first quarter of 2022

Geir KarlsenPhoto: Stian Lysberg Solum / NTB

The airline Norwegian had an operating loss of NOK 849 million in the first quarter of this year. The company’s results were affected by the omicron virus and the war in Ukraine.

In its stock exchange announcement, the company emphasized that it has managed to limit the losses and that it has a cash balance of NOK 7.5 billion.

“We have adapted to fluctuations in the market quickly and efficiently, at the same time as we have protected the company’s strong liquidity through a challenging period. The increase in ticket orders for the time ahead is very positive,” Norwegian CEO Geir Karlsen said.

In the first quarter of 2022, Norwegian had 2.2 million passengers, up from 200,000 in the same period last year.

Return of business travelers

“I am also happy to see that the business travelers are back, and we know that this group especially appreciates our extensive route network and high punctuality,” Karlsen added.

The company’s punctuality in the first quarter of 2022 was 88.1%, an increase from 87.8% in the previous quarter. The proportion of airline seats occupied increased to 76.9%, up from 38.5% in the same period last year.

Norwegian will lease a total of 15 new Boeing 737 MAX 8 aircraft, which will bring the fleet to a total of 85 aircraft for the summer season of 2023.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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