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Norwegian presented a pre-tax profit of NOK 733 million, which is the best result in a single quarter in the company/s history. Compared to the same quarter last year the unit cost is significantly reduced and the number of passengers increased by as much as 25 percent.
The company carried more than 3.8 million passengers in the third quarter, 757,000 more than the same period in 2009. The total turnover was more than NOK 2.8 billion, an increase of 25 percent. The production increased by 34 percent. The load factor was a solid 80 percent despite the considerable capacity boost. The unit cost is down six percent since the third quarter of 2009 and is now at .41 NOK including fuel.
The company/s third quarter result is also influenced by the NOK 175 million compensation paid by Scandinavian Airlines following industrial espionage.
”We are pleased to report the best quarterly result in Norwegian/s history. Lower unit cost is necessary to further boost our competitiveness. If granted the same conditions as our competitors by the Scandinavian governments we are in a good position to meet the head-on competition. By continually phasing in several brand new and more environmentally friendly aircraft, our costs will continue to decrease and our passengers will experience increased in-flight comfort. When our 737-300 fleet is discontinued in 2012 we will have a cost-efficient and unitary fleet," said CEO of Norwegian, Bjorn Kjos.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
