Press release - 21 October 2010 07:30

Norwegian Third Quarter Results 2010

Third quarter revenue up by 24.5 % to MNOK 2,827.9 (2,271.5).
Earnings before depreciation and leasing (EBITDAR) in the third quarter were MNOK 839.9 (669.5).
Earnings before depreciation (EBITDA) in the quarter were MNOK 623.6 (514.7).
Net result after tax in the third quarter was MNOK 528.0 (374.8).
Ancillary revenue per passenger up 5 % in the third quarter.
The number of passengers in the third quarter was 3.8 mill. (+25%).
Unit cost was NOK 0.41 in the third quarter compared to NOK 0.44 in the third quarter last year. Unit cost excluding fuel was NOK 0.30 in the third quarter compared to NOK 0.32 in the third quarter last year.
The Appeals Committee of the Supreme Court has denied SAS' appeal which means SAS is held liable to pay MNOK 182 to Norwegian in damages for unjustified access to and unlawful use of Norwegians trade secrets.
During the quarter, currency gains on USD denominated financing amount to MNOK 172, due to depreciation of USD against NOK. These unrealized gains have no cash effects.
Cash and money market deposits of MNOK 1,181 (782) as of 30.09.10
Cash flow from operating activities in the third quarter was MNOK -48 (113)

Topics

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 10.7 million passengers in 2009, Norwegian is the 3rd largest low-cost airline in Europe. The turnover in 2009 was in excess of NOK 7.3 billion. Norwegian currently operates 54 aircraft on 238 routes to 95 destinations and employs approximately 2 000 people.

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Norwegian reports record profit of NOK 733 million

Today Norwegian presents a pre-tax profit of NOK 733 million, which is the best result in a single quarter in the company´s history. Compared to the same quarter last year the unit cost is significantly reduced and the number of passengers increased by as much as 25 percent.

Norwegian.com

The Norwegian group is a leading Nordic aviation company, headquartered at Fornebu outside Oslo, Norway. The company has over 8,200 employees and owns two of the prominent airlines in the Nordics: Norwegian Air Shuttle and Widerøe’s Flyveselskap. Widerøe was acquired by Norwegian in 2024, aiming to facilitate seamless air travel across the two airline’s networks.

Norwegian Air Shuttle, the largest Norwegian airline with around 4,700 employees, operates an extensive route network connecting Nordic countries to key European destinations. In 2023, Norwegian carried over 20 million passengers and maintained a fleet of 87 Boeing 737-800 and 737 MAX 8 aircraft.

Widerøe’s Flyveselskap, Norway’s oldest airline, is Scandinavia’s largest regional carrier. The airline has more than 3,500 employees. Mainly operating the short-runway airports in rural Norway, Widerøe operates several state contract routes (PSO routes) in addition to its own commercial network. In 2023, the airline had 3.3 million passengers and a fleet of 48 aircraft, including 45 Bombardier Dash 8’s and three Embraer E190-E2's. Widerøe Ground Handling provides ground handling services at 41 Norwegian airports.

The Norwegian group has sustainability as a key priority and has committed to significantly reducing carbon emissions from its operations. Among numerous initiatives, the most noteworthy is the investment in production and use of fossil-free aviation fuel (SAF). Norwegian strives to become the sustainable choice for its passengers, actively contributing to the transformation of the aviation industry.