The airline reported a Q3 result of 1 billion Norwegian krone – £94.1 million – on Thursday, an improvement of 4% compared to the same quarter the previous year.
But while the Ebitdar (earnings before interest, taxes, depreciation, amortization and rent/restructuring costs) for the quarter year-on-year was up 24%, year-to-date the Ebitdar result was -23%.
Norwegian’s total revenue this quarter was 10 billion NOK (£940 million), compared to 8.3 billion NOK the same quarter last year.
Elsewhere, Norwegian Air Argentina was granted concessions to operate 153 routes from the country, on Wednesday night.
The Norwegian Group established its Argentinian subsidiary in January 2017 and plans to have a “considerable operation” in Argentina that includes both domestic and international flights.
Norwegian said passenger development had been positive in all of its key markets, with “significant growth in the US and Spain” – 79% and 25% respectively. There has also been significant fleet growth and renewal, ultimately leading to the company carrying 9.8 million passengers – an increase of 14% year-on-year.
The load factor increased to 91.7% and the capacity growth was 25%.
In total, 10 new aircraft entered the fleet: four Boeing 737 MAX, one Boeing 737-800 and five Boeing 787-9 Dreamliners.
Norwegian’s chief executive Bjorn Kjos said: “I am pleased with the passenger growth and high load factor this quarter.
“During our 15 years in the skies, almost 210 million passengers have chosen Norwegian.
“An increasing number of passengers in the US, Spain and other parts of the world considerably contribute to the growth, which proves that our global strategy is being realised.
“However, we have had major additional costs related to wet-leasing and compensation paid to passengers affected by delays, significantly affecting the quarterly result. But looking ahead, the ticket sales are satisfactory both on established and new routes.”
