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Norwegian bullish despite increased losses

Air
Gary Noakes
27 April 2017

This year’s late Easter, currency movements and expansion have been blamed for a near doubling of first quarter losses at Norwegian.

Air

The budget airline saw losses in January, February and March climb from last year’s -£72 million to -£135 million. The airline carried 6.7 million passengers, an increase of 14% year on year.

Norwegian’s chief executive Bjørn Kjos said: “In this quarter, we particularly see the effects of higher fuel costs combined with a strengthened krone against the British pound, euro and Swedish krone, which accounts for almost half of our sales.

“In addition, the figures are affected by the fact that Easter was not in the first quarter, like last year.”