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21-Apr-2016 3:47 PM

Norwegian Air Shuttle remains in the red in 1Q2016

Norwegian Air Shuttle revenue up 23% - financial highlights for three months ended 31-Mar-2016:

  • Total operating revenue: NOOK4961 million (EUR521.1 million), +23.0% year-on-year;
    • Ancillary passenger revenue: NOK801.6 million (EUR84.2 million), +18.5%;
  • Total operating costs: NOK5567 million (EUR584.8 million), +23%;
    • Labour: NOK924.3 million (EUR97.1 million), +16%;
    • Fuel: NOK860.8 million (EUR90.4 million), -16%;
  • Operating profit (loss): (NOK894.5 million) (EUR94.0 million), compared to a loss of NOK722.4 million (EUR75.9 million) in p-c-p;
  • Net profit (loss): (NOK800 million) (EUR84.0 million), compared to a loss of NOK538.3 million (EUR56.6 million) in p-c-p;
  • Passenger numbers: 5.8 million, +17%;
  • Load factor: 85%, +2 ppts;
  • Yield: NOK0.40 (EUR 4.20 cents), +2%;
  • Revenue per ASK: NOK0.34 (EUR 3.57 cents), +5%;
  • Cost per ASK: NOK0.43 (EUR 4.52 cents), -5%;
  • Cost per ASK excl fuel: NOK0.35 (EUR 3.68 cents), +1%;
  • Internet booking: 76%, -6 ppts;
  • Average sector length: 1450 km, +4%;
  • Total assets: NOK32,983 million (EUR3465 million);
  • Cash and cash equivalents: NOK3190 million (EUR335.1 million);
  • Total liabilities: NOK30,998 million (EUR3257 million). [more - original PR]

*Based on the average conversion rate at NOK1 = EUR0.105055

Norwegian Air Shuttle: "The market in Norway is influenced by the slowdown in the economy and there is increased competition in the Danish market. The demand for travelling with Norwegian and advance bookings have been satisfactory entering the first quarter of 2016." Source: Company statement, 21-Apr-2016.

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