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Norwegian First Quarter Results 2011

Press Release   •   Apr 28, 2011 07:28 BST

    • First quarter revenue up by 19.0 % to MNOK 1,894.8 (1,592.2).



 



    • Earnings before depreciation and leasing (EBITDAR) in the first quarter were MNOK -229.6
      (-22.8).



 



    • Earnings before depreciation (EBITDA) in the first quarter were MNOK -429.6 (-192.2).



 



    • Net result after tax in the first quarter was MNOK -293.2 (-199.1).



 



    • Ancillary revenue per passenger was up 5 % in the first quarter. 



 



    • The number of passengers in the first quarter was 3.06 mill. (+14%).



 



    • Unit cost was NOK 0.52 in the first quarter compared to NOK 0.51 in the first quarter last year. Unit cost excluding fuel was NOK 0.39 in the first quarter compared to NOK 0.40 in the first quarter last year.



 



    • Cash and money market deposits of MNOK 1,229 (1,628) as of 31.03.11



 



    • Cash flow from operating activities in the first quarter was MNOK 229 (398)



 

Norwegian Air Shuttle ASA, commercially branded “Norwegian,” is a public low-cost airline noted on the Oslo Stock Exchange. The company is the second largest airline in Scandinavia, and has a route portfolio that stretches across Europe into North Africa and the Middle East. With competitive prices and customer friendly solutions and service, the company has experienced significant growth over the previous years. With more than 13 million passengers in 2010, Norwegian is the 3rd largest low-cost airline in Europe. Norwegian currently operates 57 aircraft on 241 routes to 95 destinations and employs approximately 2 500 people.