Norwegian reports solid profit in Q2

Norwegian (NAS) today reported its second quarter earnings for 2018 with a net profit of NOK 300 million, despite the highest growth in the company's history. Going forward, the growth will slow down and ramp-up costs will decrease, in line with Norwegian's strategy.The net result was NOK 300 million compared to a loss of NOK 691 million the second quarter last year. The result is affected by a reduction in unit costs, which has decreased by nine percent this quarter, and with 19 per cent excluding fuel. One-offs have also this quarter contributed to the cost reduction. The costs are lower despite Norwegian's highest ever production growth (ASK) of 48 per cent and increasing fuel prices. Norwegian's traffic growth (RPK) this quarter was 46 per cent.