LONDON – Following its high-profile restructuring a few years ago, we ask the following question: How is Norwegian Air Shuttle performing nowadays?
Since the restructuring, things have been relatively quiet on the media front for the carrier.
This piece will look at their full-year financial results, as well as where they are on the operational scale, courtesy of RadarBox.com.
2022 In The Financial World for Norwegian Air Shuttle…
Norwegian Air Shuttle released its financial reports this week, reporting an operating profit of NOK 1,502 million for 2022.
The airline has performed positively and has managed to stem its losses, especially in the fourth quarter of last year, when an operating loss of NOK 39 million was reported.
In terms of liquidity, Norwegian Air Shuttle has around NOK 7.8bn in cash and has finished 2022 with a fleet of 70 aircraft at present.
4Q22 saw the carrier handle 4.6 million passengers, which is an increase from the 3.1 million reported in 4Q21.
Commenting on the airline’s financial position was CEO Geir Karlsen:
“We now close a chapter on 2022, a year where our operations have performed well, in spite of sweeping industry challenges across European airports.”
“For the full year, we delivered an operating profit (EBIT) of NOK 1,502 million despite record-high fuel prices and a strong US dollar”.
For February 12-19, Norwegian Air Shuttle operated 181 flights based on the seven-day rolling average provided by the flight tracking company.
This represents an increase of 19.87% compared to the same period last year, which aligns well with passenger number increases that have been reported by the airline in the past.
Below is the last four weeks’ worth of data from the airline:
|Date||2022 Numbers||2023 Numbers||Percentage Difference (2023 vs. 2022)|
|January 15-22||142 movements||180 movements||+26.76%|
|January 22-29||144 movements||181 movements||+25.69%|
|January 29-February 5||145 movements||184 movements||+26.90%|
|February 5-12||147 movements||190 movements||+29.25%|
What the data shows is that Norwegian Air Shuttle is operating more flights than it did during the same period last year.
This is typically a positive indicator, as the more flights you are operating, the more passengers you are handling, providing load factors remain consistent.
For Norwegian Air Shuttle, this is something that it should take away in a positive light, as it means it can now capitalize on the success it has had so far.
It remains clear that Norwegian Air Shuttle is in a good position and will have to keep adopting the same techniques via slow and steady growth to continue this position.
All eyes will be on the carrier to see how they perform during the Summer 2023 season, as that will be a period of interest for them to thrive in.
But for now, all they have to do is focus on its growth through more fleet additions, upgraded frequencies, and new routes, and then the rest will follow.