Norwegian widens net loss in 1H
Low-cost carrier Norwegian posted an H1 net loss of NOK411.9m ($49.8m), widened from a net loss of NOK54.7m for the same period last year. The fast-expanding carrier made a net profit of almost NOK1.1 billion for Q2, compared to a profit of NOK745.4m last time, but this year’s Q2 profit was cancelled out by the hefty NOK1.5b deficit recorded in Q1. Revenue for H1 was up 12%, at just over NOK13b, compared to NOK11.6b last time. Over the first half of the year, Norwegian carried almost 15.3m passengers, up 13% on the 13.6m carried over the same period in 2016. Average sector length grew 6% to 1,519km, as more long-haul routes began to take off. The carrier plans to use its incoming fleet of Boeing 737 MAX 8s, with their longer range compared to its existing fleet of 737-800s, to inaugurate a series of transatlantic services between secondary airports. It also has a growing fleet of Boeing 787s for long-haul services. Capacity for the first half jumped by 22%, to almost 32b ASKs. RPKs just failed to keep pace, rising 21% to 27.6b km. As a result, load factor for the half-year was marginally down at 86.2%, compared to 86.6% last time. Fuel consumption for the half-year also grew considerably compared to the same period last year, up 20% to 651,000 tonnes.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-07-14/unaligned/norwegian-widens-net-loss-in-1h
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Norwegian widens net loss in 1H
Low-cost carrier Norwegian posted an H1 net loss of NOK411.9m ($49.8m), widened from a net loss of NOK54.7m for the same period last year. The fast-expanding carrier made a net profit of almost NOK1.1 billion for Q2, compared to a profit of NOK745.4m last time, but this year’s Q2 profit was cancelled out by the hefty NOK1.5b deficit recorded in Q1. Revenue for H1 was up 12%, at just over NOK13b, compared to NOK11.6b last time. Over the first half of the year, Norwegian carried almost 15.3m passengers, up 13% on the 13.6m carried over the same period in 2016. Average sector length grew 6% to 1,519km, as more long-haul routes began to take off. The carrier plans to use its incoming fleet of Boeing 737 MAX 8s, with their longer range compared to its existing fleet of 737-800s, to inaugurate a series of transatlantic services between secondary airports. It also has a growing fleet of Boeing 787s for long-haul services. Capacity for the first half jumped by 22%, to almost 32b ASKs. RPKs just failed to keep pace, rising 21% to 27.6b km. As a result, load factor for the half-year was marginally down at 86.2%, compared to 86.6% last time. Fuel consumption for the half-year also grew considerably compared to the same period last year, up 20% to 651,000 tonnes.<br/>
