Scandinavia’s largest LCC, Norwegian Air Shuttle, slips into the red in 2Q2010 as yields decline
Scandinavia’s largest LCC, Norwegian Air Shuttle, reported a EUR12 million operating loss and a EUR17 million net loss in the three months to Jun-2010 (2Q2010), falling from profits in 2Q2009. This occurred despite a 7% increase in revenues (to EUR256 million) and a 15% increase in passenger numbers (to 3.2 million) in the quarter and as yields and unit revenues slumped 15% and 18%, respectively.
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