Norwegian Air Shuttle (Norwegian.com) (Oslo) reported a profit before taxes of $45.6 million for the second quarter. The company issued this statement:

Norwegian today reported a profit before tax (EBT) of 277 million NOK for the second quarter of 2012. This is an improvement of 152 million Norwegian kroner, compared with the same period last year. The quarter was marked by significant cost reduction, strong output growth and fully booked flight. Even with startup costs for long-range effort and new bases in Europe reduces costs, something that is crucial to ensure the company’s competitiveness in the future.

Norwegian had a turnover of NOK 4 billion in the second quarter, an increase of 27 percent compared to the same quarter last year. Earnings before tax (EBT) amounted to 277 MNOK 152 million Norwegian crowns better than in 2012. Number of passengers flew with Norwegian in the second quarter amounted to 5.5 million, over 1 million more than the same period last year and an increase of 23 percent. The traffic growth (RPK) increased sharply to 35 percent, which is linked to every Norwegian passengers now fly much longer than they did a year ago. Cost reduction is at 9 percent.

Growth in all markets

The figures also show a strong production growth, with an increase of 34 percent (ASK). Growth is consistently in all markets. Even with a solid growth in capacity is the load factor high. The load factor for the second quarter was 77 percent, 1 percentage point higher than in the same period last year. The Norwegian’s long-range initiatives, Norwegian has had a load factor of 96 percent. The new base at London Gatwick already has a 85 percent load factor on the newly opened Mediterranean routes.

“It has been a good quarter for Norwegian where we see clear results on the choices the company has made. We finally got started with long-haul flights and we have opened a new base in London. At the same time, we have managed to reduce our costs, which is essential in such a competitive industry as the airline industry”, said Norwegian’s CEO Bjorn Kjos.

Copyright Photo: Ton Jochems/AirlinersGallery.com. Boeing 737-8JP WL LN-NGE (msn 39050) in the special UNICEF – Unite For Children markings, prepares for runway departure clearance at Palma de Mallorca. UNICEF is Norwegian’s favorite charity.

Norwegian: