Norwegian posts strong Q2 2023 results

#NordicNews on air traffic and Norway

Operational excellence and strategic partnerships drive Norwegian's growth

Norwegian posted impressive results in the second quarter of 2023. During the quarter, the airline generated an operating profit (EBIT) of NOK 651 million.

This success was the result of strong operational performance, especially during the summer travel season. In addition, Norwegian announced today that Avida has been selected as its preferred financial partner in collaboration with Strawberry's new customer loyalty business. These partnerships, along with Norwegian's recently announced acquisition of Widerøe, will help deliver an even better and seamless travel experience.

Increase in passenger numbers and impressive performance

Norwegian recorded 5.6 million passengers in the second quarter of 2023, compared to 5 million in the same period last year. The airline increased its production by 44 per cent compared to the previous quarter. Geir Karlsen, CEO of Norwegian, was positive about the results, highlighting the company's excellent performance and seamless customer experience.

Sustainable growth, future plans and capital structure

Norwegian has also pursued sustainable growth through partnerships such as those with Norsk e-Fuel and Strawberry. These moves are designed to help ensure sustainable air travel and an attractive loyalty programme for customers. Finally, it was announced in July that Norwegian will acquire the regional Norwegian airline Widerøe for NOK 1.125 billion, which is expected to lead to an enhanced customer experience and operational synergies. This transaction is expected to close towards the end of the fourth quarter of 2023. The airline is also planning a potential dividend payout and has decided to exercise the call option to redeem the NAS13 bond. This reflects Norwegian's commitment to maintain an adequate capital structure.

More on Norwegian.

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