Norwegian Air Shuttle loss widens in 1Q2017, 2Q forward bookings 'satisfactory'

Norwegian Air Shuttle revenue up 9% - financial highlights for three months ended 31-Mar-2017:

• Operating revenue: NOK5406 million (EUR601.0 million), +9.0% year-on-year;
• Operating costs: NOK6744 million (EUR749.7 million), +21.2%;
• • Fuel: NOK1526 million (EUR169.7 million), +77.3%;
  • Labour: NOK1166 million (EUR129.6 million), +26.2%;
• Operating profit (loss): (NOK1702 million) (EUR189 million), compared to a loss of NOK894.5 million (EUR million) in p-c-p;
• Net profit (loss): (NOK1492 million) (EUR800.1 million), compared to a loss of NOK800.1 million (EUR165.8 million) in p-c-p;
• Passengers: 6.7 million, +14%;
• Load factor: 84.4%, -0.8ppt;
• Yield: NOK0.33 (EUR 3.7 cents), -17%;
• Revenue per ASK: NOK0.28 (EUR 3.1 cents), -17%;
• Cost per ASK: NOK0.44 (EUR 4.9 cents), +4%;
• Cost per ASK excl fuel: NOOK0.34 (EUR 3.8 cents), -4%;
• Average sector length: 1531km, +6%;
• Total assets: NOK40,958 million (EUR4553 million);
• Cash and cash equivalents: NOK4757 million (EUR528.9 million);
• Total liabilities: NOK38,422 million (EUR4271 million). [more - original PR]

*Based on the average conversion rate at NOK1 = EUR0.111171

Norwegian Air Shuttle: "The demand for travelling with Norwegian and advance bookings have been satisfactory entering the second quarter of 2017". Source: Company statement, 27-Apr-2017.