Norwegians lost 894 million kroner businesses in the first quarter of 2022

Photo: Stian Lysberg Solum / NTB


Norwegian airlines posted an operating loss of SEK 894 million in the first quarter of this year. The company’s performance was affected by the Omicron virus and the war in Ukraine.

In an announcement on the stock exchange, the company emphasized that it was able to curb losses and had a cash balance of SEK 7.5 billion.

“We have been able to adapt quickly and efficiently to market fluctuations while protecting the company’s strong liquidity through difficult times. Future ticket orders are very positive,” said Norwegian CEO. Geir Karlsen said.

In the first quarter of 2022, Norwegian passengers were 2.2 million, up from 200,000 in the same period last year.

Return of business travelers

“We are also pleased that business travelers are back. This group especially appreciates our extensive route network and high punctuality,” Karlsen added.

The company’s punctuality in the first quarter of 2022 was 88.1%, up from 87.8% in the previous quarter. The percentage of airline seats increased from 38.5% in the year-ago quarter to 76.9%.

Norwegians will lease a total of 15 new Boeing 737 MAX8 aircraft and will own a total of 85 aircraft in the summer of 2023.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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