top of page

The content on Breitflyte Airline News Network will always be free and won’t require a subscription.  Breitflyte.com is a participant in several affiliate advertising programs designed to provide a means for us to earn fees by linking to affiliated sites.  We may earn a commission if you click on or make a purchase through one of our links.  Thank you for supporting our affiliate advertisers. 

ADVERTISEMENT

435a074505c8f5c71997768974c7e7ee_Breeze-DigitalAd-Banner-2.png

Norwegian Air Shuttle Reports Fourth Quarter 2023 Net Profit of NOK 152.8 Million or $14.5 Million

Norwegian has reported a fourth quarter 2023 net profit of NOK 152.8 million (US $14.5 M) on a year-over-year increase in revenue of 19 percent to NOK 5.9 billion (US $559 M).  For the full year, the carrier reported a net profit of NOK 1.74 billion (US $165 million).


Norwegian Air Shuttle Reports Fourth Quarter and Full Year 2023 Financial Results - Courtesy Norwegian Air Shuttle

On Friday (February 16, 2024) Norwegian Air Shuttle reported their fourth quarter and full-year financial results for the period ending December 31, 2023.  The carrier reported a fourth quarter net profit of NOK 152.8 million (US $14.5 M) on a year-over-year increase in revenue of 19 percent to NOK 5.9 billion (US $559 M).  For the full year, the carrier reported a net profit of NOK 1.74 billion (US $165 million) on a 35 percent increase in revenue compared to FY 2022 to NOK 25.5 billion (US $2.42 billion). Norwegian’s operating margin for all of 2023 was 9.0 percent, a record for the company.  At December 31, 2023, the carrier had liquidity totaling NOK 9.5 billion (US $901 million).


In Friday’s announcement, Norwegian’s CEO, Geir Karlsen, said,


“I am happy to be able to say that in 2023 Norwegian achieved the company’s highest operating result ever.  Our loyal customer base continued to grow and we are grateful for the trust they place in us every day.  Colleagues across the entire company work constantly to ensure that we deliver very well operationally, and this applies to everything from planning networks and services to the day-to-day implementation on the ground and in the air.”


Norwegian's Fourth Quarter and Full Year 2023 Financial Results - Courtesy Norwegian Air Shuttle

At the end of 2023, Norwegian’s fleet consisted of 87 aircraft, including 20 state-of-the-art Boeing 737-8 MAX jets.  In January 2024, Norwegian completed the acquisition of Widerøe, a regional airline with a fleet of 48, mainly turboprop, aircraft.


Further commenting on the acquisition of Widerøe, Mr. Karlson, added,


“We are now in the process of including Widerøe in the Norwegian group. I am very much looking forward to the companies benefiting from exchanging many decades of experience. This will enable us to enter the market with an improved and more comprehensive offer to all our customers.”


Norwegian Air Shuttle was established in September 2002 with four domestic routes and has since carried over 300 million passengers.  The carrier is the largest Norwegian airline and currently employs approximately 4,700 team members.  Most employees are based in Norway in Oslo, Trondheim, Bergen and Stavanger, or at the company’s head office at Fornebu in Bærum.  The carrier also has offices in Riga and Barcelona, as well as bases in Alicante and Malaga.  The Group also includes the regional carrier Widerøe, which employs a further 3,500 team members. Norwegian Air Shuttle operates a fleet of 87 aircraft, including 20 Boeing 737-8 MAX jets, while Widerøe operates a fleet of 48 aircraft, including 45 De Havilland Canada Dash-8 turboprops and Three Embraer E190-E2 jets.  The carrier currently offers affordable flights on a short-haul network of destinations in the Nordic countries and to key European destinations.  Norwegian aims to reduce CO2 emissions by 45 percent by 2030.



Source: Norwegian Air Shuttle/Mynewsdesk

Comments


bottom of page