Norwegian Air Shuttle SWOT: LCC reports industry-leading operating margin in 3Q2009

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Investors love Norwegian. Since the start of March 2009, the airline's stock has surged over 420%. Why? Strong margins and low costs - and disarray among its rivals. Scandinavia's largest LCC, Norwegian Air Shuttle, reported a net profit of EUR45 million in the three months ended Sep-2009 (3Q2009) and an operating profit of EUR57 million (-10% and +146%, respectively), for an 11 ppt operating margin improvement, to an industry-leading 21%. The carrier's EBITDAR and EBITDA margins were 29% and 23%, respectively.

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