Norwegian reports profit in third quarter

Published on : Saturday, October 30, 2021

Norwegian recently reported a net a profit of NOK169 million (£14 million) for the third quarter of financial 2021. The figure compares to a loss of NOK980 million for the same period last year.

During the third quarter, close to 2.5 million passengers travelled with Norwegian compared with approximately one million during the same period last year. Continued cost control throughout the company combined with low cash burn has resulted in a strong financial position entering into the winter period with NOK7.6 billion in cash and equivalents.

Geir Karlsen, Chief Executive of Norwegian said in a statement that the third quarter results clearly demonstrate that the actions taken across the organisation to safeguard the future of Norwegian by lowering debt and liabilities, while focusing on cost efficiencies, have succeeded.

He said that the airline is currently in a strong financial position going into the traditionally more challenging winter months. He said that a positive trend in forward bookings month on month and an increasing number of passengers are choosing to fly Norwegian across the European network.

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