Norwegian loses NOK1m in 3 months
Norwegian posted the results from Q1 2016 Thursday. While the company reported an underlying improvement of more than NOK400m (U$49m), losses of NOK528m from forward jet-fuel contracts resulted in an overall pre-tax loss of NOK992m. Forward jet-fuel contracts can result in losses to the airline if the actual fuel price dips too far below the contracted level. Exchange rate fluctuations were also stated by the company to have affected its overall profits. Norwegian posted losses of NOK777m for the same period in 2015. Despite the negative nature of the figures, the company said that the results reflected strong business activity, with 85% of its seats sold in a season that is traditionally slow. The airline carried 6m passengers during the first 3 months of 2016, an increase of 17% on 2015. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-04-22/unaligned/norwegian-loses-nok1m-in-3-months
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Norwegian loses NOK1m in 3 months
Norwegian posted the results from Q1 2016 Thursday. While the company reported an underlying improvement of more than NOK400m (U$49m), losses of NOK528m from forward jet-fuel contracts resulted in an overall pre-tax loss of NOK992m. Forward jet-fuel contracts can result in losses to the airline if the actual fuel price dips too far below the contracted level. Exchange rate fluctuations were also stated by the company to have affected its overall profits. Norwegian posted losses of NOK777m for the same period in 2015. Despite the negative nature of the figures, the company said that the results reflected strong business activity, with 85% of its seats sold in a season that is traditionally slow. The airline carried 6m passengers during the first 3 months of 2016, an increase of 17% on 2015. <br/>
