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Norwegian Air back in black after recording full-year operating profit

Air
James Chapple
16 February 2023

Reborn Norwegian Air returned to operational profitability in 2022 after two years of upheaval, posting a full-year operating profit of NOK 1.5 billion (£122 million).

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The positive outlook came despite a weak final quarter (three months to the end of December) impacted by "seasonally softer demand" in which it "limited" pre-tax losses to NOK 80 million (£6.5 million) and operating losses to NOK 39 million (£3.2 million).

During the pandemic, Norwegian shut down its long-haul operation and restructured to emerge as a predominantly domestic carrier, albeit now one working to restore its European network.

Norwegian carried 4.6 million passengers during Q4 2022, up from 3.1 million in Q4 2021, while load factor improved from 77% to 81.4%.