Norwegian Air Shuttle 3Q2009 revenue up 15%

Norwegian Air Shuttle revenue up 15% - financial highlights for the three months ended 30-Sep-2009:

• Revenue: EUR273.4 million, +15% year-on-year;
  • Ancillary passenger revenue: EUR29.3 million, +68.5%;
• Costs: EUR192.8 million, -2.9%;
  • Fuel: EUR57.3 million, -29.6%;
  • Labour: EUR37.1 million, +10.5%;
• EBITDAR: EUR80.6 million, 108.3%;
• EBITDA: EUR61.9 million, +125.3%;
• EBIT: EUR57.2 million, +145.9%;
• EBT: EUR62.5 million, -10.7%;
• Net profit: EUR45.1 million, -9.6%;
• Passenger numbers: 3.1 million, +19.1%;
• Load factor: 82%, stable;
• Yield: EUR 7.3 cents, -1.6%;
• Unit revenue: EUR 6.0 cents, stable;
• Unit cost: EUR 5.3 cents, -10.2%;
• Unit cost ex-fuel: EUR 3.9 cents, +6.7%. [more]

Norwegian Air Shuttle: "The demand for travelling with Norwegian and advanced bookings has been satisfactory entering the fourth quarter of 2009. Norwegian has executed several sales and marketing campaigns that have been well received by the market, and continue to attract customers to the continuously growing route portfolio. The current macro economic outlook is uncertain. Slowdown in the business environment is expected throughout 2009. Norwegian will closely monitor the traffic development and will make adjustments to the route portfolio as necessary. With fuel price of USD 630, USD/NOK 6.00 for the remainder of the year and the current route portfolio the unit cost is expected to be in the area of NOK 0.49 for the year 2009. The company anticipates a y.o.y. production growth (ASK) of approximately 17% in 2009. For 2010 Norwegian anticipate a production growth (ASK) by up to 30 % mainly from replacing Boeing 737-300 with 737-800. Norwegian may decide to adjust capacity deployment depending on the development in the overall economy and in the marketplace," Company statement. Source: Norwegian Air Shuttle, 22-Oct-2009.