February 12, 2015
After seven profitable years Norwegian reports negative result for 2014
Norwegian’s 2014 results are characterized by strong revenue and capacity growth as well as major investments for future expansion. Fuel hedging for 2015 for the amount of NOK459m was a considerable cost in 2014. Consequently, major costs for 2015 have already been covered. The company reported a net loss of NOK-1,050m compared to net profit of NOK322m in 2013. The company’s total revenue was NOK19.5bn – an increase of 25% compared to 2013. The production growth (ASK) increased by 35%, while the load factor remained high at 81%, up three percentage points from the year before. Norwegian carried 24 million passengers in 2014, an increase of 16% from previous year. The company’s total turnover in the fourth quarter was NOK4.6b, an increase of 22% from the same quarter previous year. The net loss was NOK-958m compared to net profit of NOK194m the year before. The airline carried 5.65 million passengers during the fourth quarter, which represents a passenger growth of eight percent. The capacity growth (ASK) was 21% and the load factor increased by one percentage point to 81%.