Norwegian boosts Q3 operating profit 64%
Norwegian has reported a 64% rise in Q3 operating profit, to NKr2.97b (US$326m), after slowing capacity growth in the period. Revenue was up 8% at NKr14.4b, primarily thanks to the airline's intercontinental flights. Passenger numbers declined 3% to 10.5m. The airline increased capacity by just 3%, compared with 8% during Q3 of 2018 and a 48% hike during last year's Q2. "Norwegian's key priority is returning to profitability through a series of measures, including an optimised route and base portfolio and an extensive cost-reduction programme," the airline says. Its year-to-date operating profit stands at NKr2.13b, compared with a loss of NKr258m across the same period last year The cost-reduction programme is running at "full force" and delivered savings worth NKr827m during Q3, says Norwegian. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-10-25/unaligned/norwegian-boosts-q3-operating-profit-64
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Norwegian boosts Q3 operating profit 64%
Norwegian has reported a 64% rise in Q3 operating profit, to NKr2.97b (US$326m), after slowing capacity growth in the period. Revenue was up 8% at NKr14.4b, primarily thanks to the airline's intercontinental flights. Passenger numbers declined 3% to 10.5m. The airline increased capacity by just 3%, compared with 8% during Q3 of 2018 and a 48% hike during last year's Q2. "Norwegian's key priority is returning to profitability through a series of measures, including an optimised route and base portfolio and an extensive cost-reduction programme," the airline says. Its year-to-date operating profit stands at NKr2.13b, compared with a loss of NKr258m across the same period last year The cost-reduction programme is running at "full force" and delivered savings worth NKr827m during Q3, says Norwegian. <br/>
