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Norwegian Air Shuttle Reports Second Quarter 2023 Pre-Tax Profit of $50.5 Million

Norwegian Air Shuttle has reported a second quarter operating profit of NOK 651 million (US $61.1 million) and a pre-tax profit of NOK 538 million (US $50.5 million). At June 30, 2023 the carrier’s cash balance totaled NOK 9.3 billion (US $496.8 million).

Norwegian Reports Second Quarter 2023 Financial Results - Courtesy Norwegian Air Shuttle/Mynewsdesk

On Thursday (August 24, 2023), Norwegian Air Shuttle reported their second quarter financial results for the period ending June 30, 2023. The carrier reported a second quarter operating profit (EBIT) of NOK 651 million (US $61.1 million) and a pre-tax profit (EBT) of NOK 538 million (US $50.5 million). The company ended the period with a cash balance totaling NOK 9.3 billion (US $496.8 million) and a fleet of 81 aircraft. During Q2 2023, Norwegian carried 5.6 million passengers, up from 5.0 million during the same period last year. The carrier’s second quarter load factor was 84.4 percent, up from 81.2 percent during Q2 2022.

In Thursday’s announcement, Norwegian Air Shuttle’s CEO, Geir Karlsen, said,

“The quarter has shown that we are well set up to increase capacity and deliver solid operational operations as one of the best airlines in terms of punctuality and regularity in Europe. This is the result of the persistent efforts of our 4,700 colleagues who work every day to ensure that our passengers reach their destinations as efficiently as possible. This summer we have welcomed our travelers exclusively with our own planes and our own staff. This means that we can offer a good Norwegian experience across the entire journey, which has contributed to us being one of the best-liked airlines in the Nordics.”

Norwegian Air Shuttle was established in September 2002 with four domestic routes, and has since caried 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 in Fornebu. The carrier also has offices in Riga and Barcelona, as well as bases in Alicante and Malaga. 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 2050.

Source: Norwegian Air Shuttle/Mynewsdesk


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