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Norwegian remains in red 1Q2010 despite strong passenger growth. Talks of long-haul


Scandinavia’s largest LCC, Norwegian Air Shuttle, reported a 14.8% increase in 1Q2010 revenue, driven by ancillary revenue growth and double-digit passenger increases in the period (CEO, Bjorn Kjos, stated he was "satisfied with the result" particularly "in light of the strong passenger and production growth). However, the carrier was unprofitable on the EBITDAR, EBITDA, EBIT, EBT and net levels in the quarter, which is the carrier’s seasonally weakest quarter. [1611 words]

Unlock the following content in this report:


  • Growing (ancillary) revenues boosts cash balance
  • Yield pressures continue, down 16.4%
  • Unit costs (inc fuel) down 9%
  • Boosting market share, as others reduce capacity
  • To go long-haul next year
  • Transports more than 2.6 million pax
  • Current conditions suit the LCC model

Graphs and data:

  • Norwegian financial highlights for three months ended Mar-2010
  • Norwegian EBITDAR and EBIT margins: 1Q2006 to 1Q2010
  • Norwegian Air Shuttle revenue development (NOK million): 1Q2006 to 1Q2010
  • Norwegian revenue growth (domestic and international): 1Q2006 to 1Q2010
  • Norwegian Air Shuttle yield and RASK growth: May-2008 to Mar-2010
  • Norwegian CASK ex fuel and unit fuel costs: 1Q2006 to 1Q2010
  • Norwegian cost breakdown: 1Q2010 vs 1Q2009 
  • Norwegian’s market share in major markets 
  • Norwegian’s capacity (ASKs) and load factor (%): 1Q2006 to 1Q2010
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