Norwegian returns to profit in third quarter
Norwegian has 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.
“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,” said Geir Karlsen, chief executive of Norwegian.
“We are now in a strong financial position going into the traditionally more challenging winter months.
“We have seen a positive trend in forward bookings month on month and an increasing number of passengers are choosing to fly Norwegian across our European network.”
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.