Norwegian, net profit $136M in 2016
Norway's LCC Norwegian Air Shuttle (Norwegian) reported its 2016 net profit of NOK 1,135 million ($136.08 million). The airline said that the results are influenced by Norwegian’s international growth, particularly on intercontinental routes, as well as increased presence in the UK and Spain.
The company’s total revenue was more than 26 billion NOK ($3.11 billion) – an increase of 16%. The company took delivery of 21 brand new aircraft in 2016, contributing to a production growth (ASK) of 18%. At the same time, the load factor increased by 1.5 points to 88%. A total of 29.3 million passengers traveled with Norwegian in 2016, an increase of 14% year over year.
Norwegian CEO Bjorn Kjos said: “We are very pleased to report our best ever results in a year of strong international growth, establishing operations in new markets and tough competition. Through our global strategy, we are contributing an economic boost and increased employment at our destinations, as well as ensuring that more people can afford to fly – not least between the continents.
We enter 2017 with the ambition to increase and strengthen our foothold in established markets, while simultaneously developing our route network in new parts of the world. This year, 32 brand new aircraft will enter service, including nine Boeing 787-9s. We will launch more than 50 new routes and recruit over 2,000 new colleagues worldwide.”
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