The Norwegian Group has this week released very positive numbers for the second quarter of this year, with strong growth ahead.
Furthermore, the airline is beginning to experience success from strong demand in the Summer and is preparing well for the Winter.
Without further ado, let’s get into it…
The Numbers from The Norwegian Group…
The Norwegian Group produced a operating profit of NOK 593 million in 2Q24, with profit before tax amounting to NOK 477 million.
Across the mainline airline and their recently-acquired Wideroe, they run a fleet of 135 aircraft.
For the mainline carrier, they handled 6.3m passengers, with an additional one million at Wideroe, totalling 7.3m at the Group.
Quarterly load factor for both carriers stand at 82.4% and 70.2% respectively.
The improvements were down 2% and up 1% too respectively.
Within The Norwegian Group, a total of 27 new routes will be launched for the Winter season, with some consisting of:
- Dubai
- Agadir
- Hurghada
- Tromso
- Harstad/Narvik.
In-all, the numbers have been pretty positive for the company.
CEO Karlsen: Delivered Good Operations…
Commenting on the strong results in 2Q24 was Geir Karlsen, the CEO of The Norwegian Group:
“We have delivered good operations in the second quarter amidst a hectic ramp-up into the summer season, and I am glad that Norwegian in May once again was named Europe’s most punctual airline.”
“Both Norwegian and Widerøe are delivering strong passenger growth.”
“With an increasing number of routes, frequencies and destinations, we look forward to welcoming passengers on board”.
Karlsen confirmed that for The Norwegian Group, overall capacity in 2024 is expected to grow by 12%.
By Summer 2025, the fleet at Norwegian will increase to 90 aircraft, but they did caveat that growth is expected to slow due to Boeing delivery delays.
Overall…
In conclusion, The Norwegian Group has had a strong showing in 2Q24.
The current quarter will be important as we continue to enter the peak period of the Summer 2024 schedule.
Looking ahead, all eyes will be on how the Group performs over this vital season.
Once that is over, all eyes will then turn to their Winter 2024/25 program, to establish what other successes can be seen from there.
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