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Press release -

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)


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 was founded in 1993 but began operating as a low-cost carrier with Boeing 737 aircraft in 2002. Since then, our mission has been to offer affordable fares for all and to allow customers to travel the smart way by offering value and choice throughout their journey.

Norwegian has been voted Europe’s Best Low-Cost airline by Skytrax for six consecutive years and won Airline Program of the Year Europe & Africa at the Freddie Awards for four consecutive years. Since 2012, Norwegian has won over 55 awards for our service, product, and innovation in the industry.

We were the first airline in the world to join the UN Climate Secretariat’s climate action-initiative in 2019, pledging to work systematically to become carbon neutral by 2050.

Norwegian operates a short haul network across the Nordics and to key European destinations providing customers with excellent quality at affordable fares.