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Norwegian reports improved quarterly financial result; Norwegian Air Argentina granted licences

Air
Jennifer Morris
26 October 2017

Norwegian’s boss has attributed a “significantly impacted” third quarter result to wet-leasing costs and compensation paid to delayed passengers.

Bjorn Kjos

The airline reported a Q3 result of 1 billion Norwegian krone – £94.1 million – on Thursday, an improvement of 4% compared to the same quarter the previous year.

But while the Ebitdar (earnings before interest, taxes, depreciation, amortization and rent/restructuring costs) for the quarter year-on-year was up 24%, year-to-date the Ebitdar result was -23%.

Norwegian’s total revenue this quarter was 10 billion NOK (£940 million), compared to 8.3 billion NOK the same quarter last year.

Elsewhere, Norwegian Air Argentina was granted concessions to operate 153 routes from the country, on Wednesday night.