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Norwegian Airlines Overcome the Low Season Losses

Europe’s second largest airline recovered the first quarter losses of 400 in an overall pre-tax loss of 992 million kroner.

On the other hand, in the same three months pre-tax losses were intense at 992 million Nok against 777 million Nok in the same three months a year before.

The authorities of airline mentioned that airline is always affected by the negative currency and lost the forward jet fuel contract that costs to a loss of 528 million Nok.

The weight factor was high by two points of percentage that is 85% in the quarter of the month and it is practically considered as a low season.

The strongest growth of airline is witnessed at Gatwick airport because the airline here operates both long and short haul flights.

The improvement at Spanish airline was considerable and the increase in the number of travellers is also witnessed at Nordic countries.

Gatwick Airport News

Bjørn Kjos the chief executive of airline said: “The first quarter results show that we have an underlying profit improvement of 400 million Nok compared to the same quarter last year.

“Our load factor continues to be very high. The long-haul operations are becoming significantly more important.

“We also see growth in the Nordics and in Europe in general. We also see that the Scandinavian and European route networks both play an increasingly important role in our long-haul strategy, as many of our passengers connect from short haul to long haul and vice versa.

“An increasing number of business travellers choose to fly with Norwegian, and we have entered into agreements with several large corporations in the first quarter. This indicates that passengers appreciate a high quality product at a low price.”

The airline started long-haul routes between Paris and the US in the quarter and took delivery of five new Boeing 737-800s and one B787-9 Dreamliner. Norwegian will have 12 Dreamliners in operation by the end of 2016.

Klos said that “The airline is developing and arranging an organisational structure that will save cost efficient international expansion and necessary traffic rights for the future”.he also added that “But the market in Norway is influenced by the slowdown in the economy and there is increased competition in the Danish market”

Source: UK Airport News

  Posted by Mark Adams on Mon, May 9, 2016

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