Norwegian Air Concludes Third Quarter Progress – Anticipates a Positive Trend for Winter Season

Norwegian Air revealed positive progress in arrivals during the third quarter of the year, indicating a promising trend for the winter season.

According to a press release from Norwegian media, passenger demand is recovering in all countries and bookings for summer 2022 are showing a positive trend, TheSchengen.com reports.

Norwegian CEO Geir Carlsen noted that third-quarter results show that the organization’s initiative to protect tourism results by focusing on cost efficiency has proven successful.

“We are now in a strong financial position as we traditionally enter the more challenging winter months. We have seen a positive trend in forward bookings month after month, and an increasing number of passengers are choosing to fly Norwegian Air across our European network,” said Carlsen.

Earnings before tax (EBT) revealed a net profit of NOK 169 million (17.3 million euros) compared to a loss of NOK 980 million (100.7 million euros) in the same period in 2020. During the third quarter, nearly 2.5 million passengers traveled With the airline, about a million more compared to 2020.

>> Travel to Norway: current rules and restrictions

Production (ASK) increased by 130 percent, and passenger traffic (RPK) increased by 177 percent compared to July-September of 2020. Moreover, the load factor was set at 73.1 percent, about 12.5 percent more than previously. . As a result, the average sector length jumped by 20 percent.

By the end of September, which also marks the end of the third quarter of 2021, the total Norwegian fleet consisted of 51 aircraft.

Ongoing and ongoing cost control in Norwegian, combined with lower liquidity burn, has resulted in a strong winter financial position of NOK 7.6 billion (€781 million) in cash and cash equivalents.

The serious focus on costs and expenses favored the Norwegian and put him in a stronger position during the winter months compared to the previous year. In addition, booking data continues to show a positive trend for the coming year as more passengers choose Norwegian as their airline.

Moreover, Norwegian is not the only authority sharing the good news, as today the European Travel Commission (ETC) published a report on Europeans’ readiness to travel over the next six months.

According to this report, 66 per cent of European citizens are positive that they will travel in the next six months. Participants also revealed that their confidence in travel has grown since the issuance of the EU COVID-19 digital certificate. However, while Spaniards (72.4 per cent), Italians (65.1 per cent) and Germans (63.1 per cent) had high confidence in travel, the Dutch (28.2 per cent) and Swiss (24.1 per cent) were the most skeptical of the EUDCC’s effectiveness.

Schengen Visa

Schengen Countries

Schengen Agreement

Schengen News

Source: schengenvisainfo.com

Enable Notifications    OK No