Norwegian
delivered a profit before tax of NOK 117 million and improved cash position in
the fourth quarter 2021
By
Norwegian today reported its fourth
quarter and preliminary full-year results for 2021. Passenger demand increased
from the previous quarter, however, demand was negatively impacted by the
outbreak of the coronavirus omicron variant. Profit before tax (EBT) was NOK
117 million, compared to a loss of NOK 16.6 billion in the fourth quarter of
2020 and a profit of NOK 169 million in the third quarter.
In the fourth quarter of 2021, 3.1 million passengers
travelled with Norwegian, up from 0.6 million in the same period last year and
2.5 million in the previous quarter. Production (ASK) was 4.6 billion seat
kilometres, while passenger traffic (RPK) was 3.6 billion seat kilometres. The
load factor increased to 77.0 percent, up from 52.4 percent in the same period
in 2020 and 73.1 percent in the previous quarter. At the end of the fourth
quarter of 2021, the total operational fleet comprised 51 aircraft.
Norwegian has continued to focus on cost control and
liquidity discipline across every aspect of the company, which has led to an
improvement in the cash position. By the end of the fourth quarter, cash and
cash equivalents increased to NOK 7.7 billion.
“I am pleased that we have been able
to adapt to fluctuations quickly and efficiently, and that we can report a
profit and an improved cash position in a quarter strongly affected by the
omicron virus and government-imposed travel restrictions. I would also like to
thank colleagues from across the airline for their continued dedication and
hard work. We are looking forward to welcoming more customers on board heading
into the busier spring and summer seasons, with a fleet increasing to 70
aircraft and over 270 routes on sale,” said Geir Karlsen, CEO of
Norwegian.
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