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12-Jul-2018 3:56 PM

Norwegian Air Shuttle back in the black in 2Q2018

Norwegian Air Shuttle reported (12-Jul-2018) the following financial highlights:

  • Three months ended 30-Jun-2018:
    • Operating revenue: NOK10,228 million (EUR1069 million), +32% year-on-year;
      • Ancillary passenger revenue: NOK1613 million (EUR168.6 million), +38%;
    • Total operating costs: NOK10,074 million (EUR1053 million), +17%;
      • Fuel: NOK3206 million (EUR335.2 million), +84%;
      • Labour: NOK1656 million (EUR173.2 million), +31%;
    • EBIT: NOK153.6 million (EUR16.1 million), compared to a loss of NOK862.9 million in p-c-p;
    • Net profit: NOK300.3 million (EUR31.4 million), compared to a loss of NOK690.9 million in p-c-p;
    • Yield: NOK0.37 (EUR 3.9 cents), -10%;
    • Revenue per ASK: NOK0.32 (EUR 3.3 cents), -11%;
    • Cost per ASK: NOK0.41 (EUR 4.3 cents), -9%;
    • Cost per ASK excl fuel: NOK0.29 (EUR 3.0 cents), -19%;
    • Average sector length: 1815km, +20%;
  • Six months ended 30-Jun-2018:
    • Operating revenue: NOK17,221 million (EUR1793 million), +32%;
      • Ancillary passenger revenue: NOK2824 million (EUR294.1 million), +35%;
    • Total operating costs: NOK19,293 million (EUR2009 million), +24%;
      • Fuel: NOK5461 million (EUR568.7 million), +67%;
      • Labour: NOK3206 million (EUR333.9 million), +32%;
    • EBIT (loss): (NOK2073 million) (EUR215.9 million), compared to a loss of NOK2565 million in p-c-p;
    • Net profit: NOK254 million (EUR26.5 million), compared to a loss of NOK2182 million in p-c-p;
    • Yield: NOK0.35 (EUR 3.6 cents), -6%;
    • Revenue per ASK: NOK0.30 (EUR 3.1 cents), -6%;
    • Cost per ASK: NOK0.43 (EUR 4.5 cents), -6%;
    • Cost per ASK excl fuel: NOK0.31 (EUR 3.2 cents), -13%;
    • Average sector length: 1802km, +19%;
    • Total assets: NOK55,997 million (EUR5832 million);
    • Cash and cash equivalents: NOK3714 million (EUR386.8 million);
    • Total liabilities: NOK52,320 million (EUR5449 million). [more - original PR]

*Based on the average conversion rate at NOK1 = EUR0.104549 for 2Q2018
*Based on the average conversion rate at NOK1 = EUR0.104146 for 1H2018

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