Norwegian carried more than 3.6 million passengers in the first quarter, an increase of 19 percent compared with the first quarter last year. The load factor increased by 3 percentage points to 77 percent.
”It’s been a challenging quarter, mostly due to soaring oil prices. In addition, the first quarter is seasonally weak. Considerable non-recurring cost has incurred due to the phasing out of older aircraft from the fleet However, our fleet renewal program is an investment that will benefit the company in many years to come. On the positive side, our passenger growth continues and our load factor increases,” said CEO Bjørn Kjos.
New aircraft, more robust
“The introduction of brand new, more fuel efficient aircraft will make us even more robust against high fuel prices,” said Kjos. In the first quarter alone, more efficient aircraft contributed to fuel savings of 25 MNOK compared to first quarter previous year.
Key Figures First Quarter 2012 (Q1 2011)
Passengers: 3.65 million (3.1 mill)
Revenue: 2.36 BNOK (1.9 BNOK)
Load Factor: 77 percent (74 percent)
EBITDAR: -252 MNOK (-230 MNOK)
EBITDA: – 497 MNOK (-430 MNOK)
EBIT: – 575 MNOK (- 495 MNOK)
EBT: – 398 MNOK (-406 MNOK)
Net Result: – 286 MNOK (-293 MNOK)
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Source: Norwegian
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