2009 best annual result in Norwegian’s history

Today, Norwegian presents the best annual result in the company’s history. The net result after tax amounted to 446 MNOK. The last quarter was also the best Q4 ever. During 2009, Norwegian had a strong passenger growth and carried 10.8 million passengers, an increase of 18 per cent compared to the previous year.

“I am very pleased with reporting positive results in a time where the industry is facing challenging market conditions,” said CEO Bjørn Kjos. I am especially pleased with our cost reductions and improved competitiveness. The unit cost for 2009 was reduced by 13 per cent compared to 2008.

During 2009, Norwegian launched 63 new routes, whereof, 30 in Denmark, 18 in Sweden and 15 new routes in Norway. Today, Norwegian launched, for the first time, new routes from Oslo and Stockholm to Helsinki. See separate press release.

Key figures full year 2009 (2008)

Passengers: 10.8 million (9.1 million)

Revenue: 7.3 BNOK (6.2 BNOK)

Load factor: 78 % (79 %)

EBITDAR: 1.3 BNOK (200 MNOK)

EBITDA: 721 MNOK (-208 MNOK)

EBIT: 572 MNOK (-338 MNOK)

EBT: 623 MNOK (5.3 MNOK)

Net result: 446 MNOK (3.9 MNOK)

Key figures fourth quarter 2009 (Q4 2008)

Passengers: 2.8 million (2.2 million)

Revenue: 1.75 BNOK (1.6 BNOK)

Load factor: 76 % (76 %)

EBITDAR: 205 MNOK (-45 MNOK)

EBITDA: 50.4 MNOK (-169 MNOK)

EBIT: 7.6 MNOK (-199 MNOK)

EBT: 8.7 MNOK (-197 MNOK)

Net result: 0.8 MNOK (-138 MNOK)

Source: Norwegian Air

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