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Norwegian Air Shuttle reports first net profit of the year in 3Q08

Scandinavia’s largest LCC, Norwegian Air Shuttle, posted a net profit of EUR46.9 million in 3Q08 (three months ended 30-Sep-08), an impressive 443% year-on-year improvement. Norwegian’s revenue is also on the rise, totalling EUR223.4 in the quarter, a 48.9% year-on-year increase. However, this was exceeded by a 55.9% increase in operating costs to EUR187.2 million, as the airline continued its expansion drive and faced increased fuel costs.

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