Norwegian doubles Q2 net profit
Norwegian has reported a net profit of NOK745.4m (US$88.3m) for the 2016 Q2, more than doubling its NOK325m net result in the year-ago June quarter. Revenue for the period was up 13% to NOK6.63b, compared to NOK5.86b in the year-ago period. Operating expenses totaled NOK4.67b, up 2% year-over-year. The carrier’s Q2 operating profit was NOK1.97b, up 53% from NOK1.28b a year ago. Norwegian said its Q2 earnings were affected by strong capacity growth and increased load factor; its overall Q2 performance was positive in all main markets. CE Bjørn Kjos said that even though the Q2 results were improved and the carrier had record-high load factors, “We have had significant additional costs for leasing of aircraft and passenger compensation. Over the summer, we will phase out the wet-leased aircraft.” <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-07-18/unaligned/norwegian-doubles-q2-net-profit
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Norwegian doubles Q2 net profit
Norwegian has reported a net profit of NOK745.4m (US$88.3m) for the 2016 Q2, more than doubling its NOK325m net result in the year-ago June quarter. Revenue for the period was up 13% to NOK6.63b, compared to NOK5.86b in the year-ago period. Operating expenses totaled NOK4.67b, up 2% year-over-year. The carrier’s Q2 operating profit was NOK1.97b, up 53% from NOK1.28b a year ago. Norwegian said its Q2 earnings were affected by strong capacity growth and increased load factor; its overall Q2 performance was positive in all main markets. CE Bjørn Kjos said that even though the Q2 results were improved and the carrier had record-high load factors, “We have had significant additional costs for leasing of aircraft and passenger compensation. Over the summer, we will phase out the wet-leased aircraft.” <br/>
