Norwegian Air Shuttle operating profit down 10% in 3Q2013; 4Q2013 forward booking 'satisfactory'

Norwegian Air Shuttle revenue up 15% - financial highlights for three months ended 30-Sep-2013:

• Operating revenue: NOK4878 million (EUR614.7 million), +15% year-on-year;
• • Ancillary: NOK532 million (EUR67.0 million), +24%;
• Total operating costs: NOK3709 million (EUR467.4 million), +19%;
• • Fuel: NOK1366 million (EUR172.1 million), +28%;
  • Labour: NOK691.1 million (EUR87.1 million), +28%;
• EBIT: NOK637.7 million (EUR80.4 million), -10%;
• Net profit: NOK435.9 million (EUR54.9 million), -31%;
• Passenger traffic (RPKs): +30%;
• Load factor: 81%, -1 ppt;
• Yield: NOK0.51 (EUR 6.4 cents), -12%;
• Unit revenue: NOK0.41 (EUR 5.2 cents), -13%;
• Unit costs: NOK0.40 (EUR 5.0 cents), -3%;
• Unit cost excl fuel: NOK0.27 (EUR3.4 cents), -3%;
• Average sector length: 1260 km, +11%;
• Internet bookings: 81%, +1 ppt;
• Total assets: NOK14,360 million (EUR1810 million);
• Cash and cash equivalents: NOK2303 million (EUR290.2 million);
• Total liabilities: NOK11,420 million (EUR1439 million). [more - original PR]

*Based on the average conversion rate at EUR1 = 7.9353

Norwegian Air Shuttle: "The demand for travelling with Norwegian and advance bookings have been satisfactory entering the fourth quarter of 2013. Norwegian will continue to take advantage of its increasing competitive power realized through continuous cost efficiency, and from introducing larger aircraft (14 new 737-800Ws will be delivered in 2013) with a lower operating cost. Going forward, the Company expects continued competitive pressure in the European market place." Source: Company statement, 24-Oct-2013.