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Higher oil cost hits profits at Norwegian

Higher Oil Cost Hits Profits At Norwegian

Norwegian has reported pre-tax profits of NOK861 million (£80.5 million) for the second quarter of financial 2017.

Higher Oil Cost Hits Profits At Norwegian

that will is actually slightly down through last year’s result, mainly due to higher oil prices as well as the air passenger tax implemented by the government in Norway last year.

Higher Oil Cost Hits Profits At Norwegian

The overall performance was positive in all of Norwegian’s main markets during the second quarter.

Higher Oil Cost Hits Profits At Norwegian

The load factor for the second quarter has remained high at 88 per cent, the same as the second quarter last year.

Higher Oil Cost Hits Profits At Norwegian

During the second quarter, Norwegian has introduced one fresh Boeing 787 Dreamliner, eight fresh Boeing 737-800 as well as two Boeing 737 MAX aircraft to its fleet.

Higher Oil Cost Hits Profits At Norwegian

Norwegian will have a fleet of at least 42 Dreamliner long-haul aircraft within a few years.

Higher Oil Cost Hits Profits At Norwegian

During the second quarter, the airline carried 8.6 million passengers, an increase of 12 per cent.

Norwegian’s strongest growth in terms of passenger numbers was Oslo Airport as well as London Gatwick.

During the second quarter, Norwegian’s total revenue was NOK7.8 billion, up 17 per cent through the same quarter last year.

The sale of 2.5 per cent of Bank Norwegian shares contributed positively to the result.

Norwegian’s net profit that will quarter ended at NOK1.1 billion.

that will summer, Norwegian also took delivery of two Boeing 737 MAX aircraft.

Norwegian chief executive Bjørn Kjos said: “I am very pleased with the high load factor due to that will quarter.

“I’m also grateful that will more than 0 million passengers have shown confidence in us as well as chosen to fly with Norwegian since we began flying in 2002.

“However, we have had significant additional costs for leasing of aircraft, high oil cost as well as the air passenger tax implemented by the government in Norway last year, which have had a negative impact on the result.”

Higher oil cost hits profits at Norwegian

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