Norwegian and its subsidiary Widerøe reported positive traffic figures for February 2024, demonstrating continued customer demand and a successful collaboration.
Passenger growth and high load factors were the order of the day for February. Both of the Group’s carrier turned in a positive performance.
Key Figures for February
- Combined passengers: 1,539,038 (Norwegian: 1,281,212, Widerøe: 257,826)
- Norwegian load factor: 86% – up 2% year-over-year, near record high for February.
- Widerøe load factor: 67% – up 2% year-over-year.
Norwegian CEO Geir Karlsen expressed satisfaction with the results, saying: “We are pleased to see strong traffic figures again, reflecting continued customer trust and appreciation for the Norwegian product and our dedicated colleagues.”
“Our February load factor is close to the highest ever recorded for the month, and booking trends remain positive across all markets with many flights selling out for the Easter holiday period.”
“We are grateful for the growing number of passengers choosing Norwegian, and we look forward to welcoming them on board.”
Additional Statistics
- Norwegian’s capacity (ASK) increased by 7% year-over-year to 1.951 million seat kilometers.
- Actual passenger traffic (RPK) reached 1.676 million seat kilometers.
- Norwegian operated an average of 68 aircraft with a regularity rate of 99.4% and a punctuality rate of 81%.
Collaboration with Widerøe Progresses
Norwegian Red Handling assumed ground services for Widerøe at Alicante, while Widerøe Ground Handling took over services for Norwegian at six airports in Norway.
This includes the airports of Molde, Trondheim, Stavanger, Bodø, Haugesund and Ålesund.
Mr. Karlsen commented on the successful cooperation: “The acquisition of Widerøe is already delivering benefits as we capture synergies across various areas.”
“We are committed to leveraging best practices and further enhancing this collaboration for the collective benefit of our customers, colleagues, and other stakeholders.”
Historical Widerøe Data Included
This month’s report also features historical traffic data for Widerøe from January 2022 to December 2023.
In February 2024, Widerøe experienced an 8% increase in production compared to the same period last year.
Benefits of the Widerøe Acquisition
It’s too early to definitively say whether the acquisition of Widerøe has conclusively benefitted Norwegian due to the recent nature of the acquisition (July 2023). However, the initial signs seem positive:
- Combined passenger numbers: As of February 2024, the combined passenger numbers for Norwegian and Widerøe show an increase.
- Synergy benefits: Norwegian is already seeing benefits like shared ground handling services at various airports, indicating potential cost savings and operational efficiency.
- Positive outlook: Management at Norwegian expresses optimism about the acquisition, highlighting opportunities to capitalize on best practices and improve the cooperation for the benefit of all stakeholders.
However, further time and data analysis are needed to assess the full impact of the acquisition on various aspects like:
- Financial performance: Evaluating potential cost reductions, revenue growth, and overall profitability.
- Market share: Understanding the combined market share and potential changes in competition dynamics.
- Operational efficiency: Assessing the effectiveness of the merged operations and any improvements in areas like punctuality and regularity.
The initial steps show promise, but a conclusive judgement about the long-term benefits of the acquisition for Norwegian requires further observation and analysis.
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