12-Jul-2018 3:59 PM

Norwegian reports EUR32m profit for 2Q2018

Norwegian reported (12-Jul-2018) a net profit of NOK300 million (EUR32 million) for 2Q2018, "despite the highest growth in the company's history". Norwegian attributed the result to a reduction in unit costs of 9% year-on-year, or 19% excluding fuel costs. Norwegian reported a loss of NOK691 million (EUR73 million) for 2Q2017. Norwegian CEO Bjørn Kjos commented: "Despite being at the peak of our growth phase, we have been able to present a profit and decreased unit costs during the second quarter. Going forward, the growth will slow down and we will reap what we have sown for the benefit of our customers, staff and shareholders". The carrier said 2Q2018 marked the peak of its growth, with a capacity increase of 48% year-on-year. [more - original PR]

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