Record Q2 for Norwegian Air Shuttle

Norwegian Air Shuttle was earlier this year named winner of the Market Leadership Award by the international airline magazine Air Transport World (ATW). Managing Director in Norwegian, Bjørn Kjos (right) received the award in Washington, DC on Feb. 17, 2009. Photo courtesy of Norwegian Air Shuttle.

Low fare airline Norwegian has reported the most profitable Q2 in the airline’s history. Earnings before tax (EBT) were MNOK 245, an improvement of more than MNOK 330 compared to the same period in 2008.

Norwegian carried close to 2.8 million passengers in the second quarter of 2009 – an increase of 440 000 passengers compared to last year. The total number of passengers flown in June was close to 977 000, an increase of more than 130 000 passengers or 15 per cent compared to June 2008.

The turnover in Q2 was BNOK 1.9, an increase of 23 percent. In Norway, the domestic revenue increased by 27 per cent. The Group had a solid load factor of 78 per cent, which is equivalent to the same period last year.

“I am very pleased with the company’s performance. Despite operating in an industry facing large economic challenges, we deliver the most profitable second quarter in the company’s history. Our competitive cost base enables us to be profitable across our whole route network. In August, Norwegian will also launch two new domestic routes. We are optimistic about both Molde and Haugesund,” says Norwegian’s CEO Bjørn Kjos.

“Despite the industry wide decline in traffic figures, both in Norway and Europe, Norwegian has experienced a significant passenger growth.The fact that more passengers chose to travel with Norwegian during such times is a strong vote of confidence, and we are determined to work hard to deserve the loyalty of our customers going forward,” says Kjos.

Source: Norwegian Air Shuttle