A surplus of almost one billion kroner in the second quarter for Norwegian

Norwegian-owner Bjorn KjosNorwegian-owner Bjorn Kjos .Photo: Norwegian

The profits before taxes that orwegian Air Shuttle got in the second quarter of this year were at 930 million – more than twice as much as in the second quarter last year.

On Thursday morning the Norwegian budget airline reported doubled results and more passengers. The coverage level was  at 88 percent in the second quarter of this year, an improvement of 8 percentage points over the past two years, according to the quarterly report.
Norwegian had a total of  7.7 million passengers in the second quarter – an increase of 11 percent.

Increased revenue
– The developments are uniformly good in all of Norwegian’s markets, the company said in a statement.
Norwegian had a turnover of 6.6 billion in the second quarter, 800 million more than in the same period last year. The costs – primarily salaries and fuel – have increased slightly. This is partly to do with the company’s growth over the last twelve months. Other operating expenses were reduced by nearly 300 million.

Kjos satisfied
This means that the company is left with a profit of 1 billion – almost twice as much as in the second quarter last year, when the operating profit was at 520 million.
Bjørn Kjos is, not surprisingly, very happy, but points out that the company has had significant extraordinary costs for leasing of aircraft and for paying compensation to passengers.
– When the summer is over, the leased planes will be phased out and we look positively on future developments, he said.


Source: NTB scanpix / Norway Today