Norwegian Pins Profit Dip On US Prevarication

Norwegian, the short- and long-haul low-cost carrier, has suffered a 16 per cent fall in Q3 profit despite soaring revenue and fuller aircraft.

Norwegian, the short- and long-haul low-cost carrier, has suffered a 16 per cent fall in Q3 profit despite soaring revenue and fuller aircraft.

Pre-tax earnings were $75m, down from $92m the year before.

Norwegian attributed the reverse to currency fluctuations, its ongoing struggle to secure approval for flights into the US by its Irish subsidiary – Norwegian Air International – and passenger costs associated with delayed flights.

The airline’s maintenance expenses were up almost 50 per cent due to teething problems with its new 787s and the depreciation of the krone against the dollar.

Nonetheless, load factor climbed three points to 86 per cent and Norwegian’s extra capacity meant a 30 per cent leap in sales.

TAGS: Europe
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