Third quarter for Norwegian is profitable

 Thursday, October 25, 2018 

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Norwegian_Air__170917_29Norwegian reported that the third quarter of 2018 has reported earnings before tax of £149 million.

 

 

Even though there was  a capacity growth of 33 per cent, the company reduced its unit costs and it is expected that going forward the growth will rise reducing the unit cost.

 

There was  an improvement of 18 percent as compared to the same quarter last year and the net profit of £121 million was noted in the third quarter.

 

 

This quarter showed that the company’s unit costs excluding the fuel went down by ten percent.

 

 

There was an increase in total revenue by 33 percent to £1.2 billion. Approximately 11 million passengers chose to travel with Norwegian during the third quarter showing an increase of 11 percent.

 

 

 

The load factor was 90.5 per cent as compared to 91.7 percent last year.

 

Norwegian chief executive Bjørn Kjos was pleased to present a solid result in this quarter with reduced unit cost despite strong growth.

 

 

The growth will slow down and  bring benefits to the large investments made over the years profiting the customers, employees and shareholders.

 

 

It is expected that tough competition, high oil prices and strong dollar will be affecting the entire aviation industry which will lead to further streamlining their operations and will reduce the costs.

 

 

Norwegian has taken delivery of one brand-new Boeing 787-9 Dreamliner and four Boeing 737 MAX 8 aircraft in the third quarter.

 

 

This year Norwegian will take delivery of 11 Boeing 787-9 Dreamliners, 12 Boeing 737 MAX 8 while Boeing 737- 800 aircraft that have already been delivered.

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