Copenhagen, Aug 24 (EFECOM).- The low-cost airline Norwegian presented on Thursday a net loss of 455 million crowns (39 million euros) in the first half of the year, when a year earlier it had earned 215 million (19 million of euros).
The net operating loss (ebit) was 266 million Norwegian crowns (23 million euros), compared to a profit of 510 million (44 million euros) in the same period of 2022.
Revenues amounted to 10,846 million (941 million euros), which represents a year-on-year increase of 60%.
Norwegian carried 9.41 million passengers between January and June, an increase of 31%.
In the second quarter, the Norwegian airline earned 538 million crowns (47 million euros), 57% less.
The balance for the second quarter of the year was affected by macroeconomic uncertainty, especially in relation to the weakening of the Norwegian krone against the dollar and the euro, the company explained in a statement.
The ebit was 651 million (56 million euros), 52% worse.
The operating result for April-June 2022 had also been positively influenced by the return of 2,099 million (182 million euros) for pre-delivery payments for an order with Boeing.
Revenues amounted to 6,871 million crowns (596 million euros), 41% more.
The number of passengers carried increased 13% year-on-year to 5.6 million and the load factor rose three points to 84.4.
At the end of June the airline’s liquidity position had improved by 9.3 billion (807 million euros) with cash and cash equivalents.
Norwegian has experienced financial problems in recent years, exacerbated in 2019 by the temporary ban on the flight of the Boeing 737 MAX and problems with Rolls Royce engines, and exacerbated by the coronavirus crisis.
The airline completed a double reconstruction process in Ireland and Norway in May 2021, after creditors agreed to renegotiate the debt from 80,000 million crowns to between 16,000 and 18,000 million (from 7,856 to between 1,571 and 1,768 million euros).
The company abandoned the commitment to long-distance flights to focus on internal routes in Norway, and between the Nordic countries and the main European destinations. EFECOM
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2023-08-24 07:12:36
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