Norwegian’s Robust Performance in Q2 2023

Norwegian has reported strong results in Q2 2023, delivering an operating profit (EBIT) of NOK 651 million. According to the airline, this was characterised by strong operational performance throughout the busy summer travel season.

Norwegian carried 5.6 million passengers in the quarter using its fleet comprising 81 aircraft. Of the airline’s flights in the quarter, 81.5% departed on schedule, with the regularity of these flights at 99.5%.

“This quarter has demonstrated our ability to ramp up capacity and deliver a superb operational performance to become one of the top airlines in Europe,” said Geir Karlsen, CEO of Norwegian. “These results have been made possible thanks to over 4,700 of our colleagues working tirelessly to ensure our passengers arrive at their destinations as smoothly as possible. By solely flying with our own aircraft and crew, we can deliver ‘the Norwegian way’ to all our customers.”

“The summer season of 2023 will be one of the best in our history, and I am happy that forward bookings remain strong with business travel returning and others planning their Autumn holidays,” said Karlsen.

The airline has announced a number of partnerships throughout Q2, including a collaboration with Norsk e-Fuel to build the world’s first full-scale e-fuel plant in Mosjøen, Norway, and with Scandinavian hotel giant Strawberry, to establish a joint loyalty company offering a shared ecosystem for loyalty programmes.

In July, Norwegian announced its plans to acquire regional Norwegian carrier Widerøe for a cash consideration of NOK 1,125 million, subject to closing conditions. The acquisition is expected to be completed by the end of Q4 2023, subject to approval by the Norwegian Competition Authority.