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Strong growth at Norwegian

Strong growth at Norwegian

Norwegian has reported strong growth in all European markets and a high load factor in its third quarter results.

The base at London Gatwick shows the strongest passenger growth, followed by Oslo Airport Gardermoen and Stockholm Arlanda.

The company today reported a third quarter pre-tax profit of MNOK604, a result significantly affected by the additional costs associated with wet-leasing replacement aircraft on long-haul routes.

In addition the summer bookings were lower this quarter due to the unusually warm weather in the Nordics.

The third quarter was characterized by a solid production growth with an increase of 31 per cent.

The growth is pervasive in all markets, but the company’s base at London Gatwick Airport has the highest increase in number of passengers.

Norwegian accounts for 90 per cent of the growth at the airport.

Despite strong capacity growth, the load factor remains high.

The load factor was 81 per cent, down one percentage point compared to the same quarter last year.

Norwegian long-haul routes have a load factor of more than 90 per cent.

“In this quarter, we clearly see the outline of the company’s growth strategy.

“We have a strong passenger growth in all markets and we have managed to maintain a high load factor. At the same time, our results this quarter are significantly affected by the additional costs associated with replacement aircraft for the Dreamliner.

“In addition, Northern European sun seekers chose to enjoy the warm summer at home instead of flying south,” said chief executive Bjørn Kjos.