Category Archives: Norwegian Air Shuttle

Norwegian concludes agreement to purchase 50 Boeing 737 MAX 8 aircraft

In May, Norwegian and Boeing announced an agreement in principle for the purchase of 50 Boeing 737 MAX 8 aircraft with options for another 30 aircraft.

Norwegian announced that the various closing conditions related to agreement have been met.

Following this, Norwegian estimates that it will record a net gain of approximately NOK 2 billion in the second quarter of 2022.

Additionally, Boeing and Norwegian have filed to settle all outstanding legal disputes.

Norwegian sees continued passenger growth, up 16% in May

Norwegian Air Shuttle issued this statement:

Norwegian’s traffic figures for May showed that Norwegian had 1.6 million passengers, an increase of 16 percent compared to the previous month.

“As we approach the busy summer months, we continue to ramp up production as planned to meet the increasing demand. Despite capacity constraints at certain airports, we manage to complete almost a 100 percent of our 400 daily scheduled flights with high punctuality,” said Geir Karlsen, CEO of Norwegian.

Punctuality, as measured by the number of flights departing within 15 minutes of scheduled time, was at 84.9 percent in May, an increase from 82.6 percent in April. As many as 97 percent of all flights arrived on schedule or no more than an hour late.

The number of passengers increases month by month, and the company notes that bookings for the summer period continue to grow. A lot of people have already booked tickets to sun and sand destinations and recently Norwegian has seen growth in the city destinations as well. During May, the company opened several new routes to serve the growing demand.

Norwegian had 1,628,040 passengers in May, as compared to 96,909 in May 2021. The load factor was 79.2 percent. The capacity (ASK) was 2,459 million seat kilometres, while actual passenger traffic (RPK) was 1,947 million seat kilometres. In May, Norwegian operated an average of 64 aircraft and 99.7 percent of scheduled flights were completed.

Norwegian has significantly increased its fleet as planned in 2022 and will operate 70 aircraft during the summer. Recently, Norwegian signed an agreement in principle with Boeing that will ensure delivery of new 737 MAX 8 aircraft in the years to come. A continued fleet renewal will give passengers an even more comfortable on-board experience in modern and fuel-efficient aircraft.

Norwegian aircraft photo gallery:

Norwegian to purchase 50 Boeing 737-8 MAX 8 aircraft

Norwegian Air Shuttle ASA has reached an agreement in principle with Boeing for a recommitment to purchase 50 Boeing 737 MAX 8 aircraft.

The agreement also includes options for an additional 30 aircraft. The 50 aircraft are due to be delivered between 2025 and 2028, at a schedule closely corresponding to current aircraft lease expirations.

This entails a limited net increase of the company’s current fleet. The parties’ agreement in principle is subject to various closing conditions, which are targeted to be concluded by the end of June 2022.

The company intends to finance the outstanding balance of pre-delivery payments through positive cash flow from operating activities. A significant share of the aircraft will be owned by the company, ensuring an optimised and balanced aircraft financing structure. Subsequent to the conclusion of these agreements, Norwegian estimates to record a net gain of approximately NOK 2 billion.

“This is a landmark deal that sets out a path whereby Norwegian will own a large share of its fleet. This will result in lower all-in costs and increased financial robustness, enabling us to further solidify our Nordic stronghold. The deal also allows us to serve our customers with state-of-the-art aircraft that can run increasingly on sustainable aviation fuel,” said Svein Harald Øygard, Chair of the Board of Norwegian.

The purchase agreement demonstrates Norwegian’s continuously strong commitment to operate a modern and fuel-efficient fleet. The Boeing 737 MAX 8 is approximately 14 percent more fuel-efficient compared to the previous-generation aircraft, putting the company on strong footing to achieve its target of reducing emissions by 45 percent by 2030.

“The overall terms achieved are attractive for Norwegian, and the deal fits well with our long-term fleet strategy and route program. It will enable us to serve our customers with modern fuel-efficient aircraft with the latest technology, significantly reducing our carbon footprint. The deal will also strengthen the company’s equity considerably, further solidifying Norwegian’s financial position,” said Geir Karlsen, CEO of Norwegian.

Norwegian aircraft photo gallery:

Norwegian limits losses and protects cash position in the first quarter

Norwegian Air Shuttle issued this report:

Norwegian reported its first quarter results of 2022. The results in the seasonally weakest quarter of the year were also impacted by the omicron virus and the war in Ukraine, resulting in an operating loss (EBIT) of NOK 849 million. The company has continued to safeguard its cash position at a high level, NOK 7.5 billion, demonstrating the ability to adjust to market demand and discipline in conserving liquidity.

In the first quarter of 2022, Norwegian had 2.2 million passengers, up from 0.2 million in the same period last year. Production (ASK) was 3.9 billion seat kilometres, while passenger traffic (RPK) was 3.0 billion seat kilometres. The load factor increased to 76.9 percent, up from 38.5 percent in the same period last year. Despite the strong growth in available seats and the high number of new routes through the quarter and into April, the company has maintained high load factor levels and has improved earnings.

“We have adapted to fluctuations in demand quickly and efficiently, and we have managed to protect our strong liquidity position even through a challenging period. The increase in bookings ahead of the summer season is significant, and we look forward to welcoming our customers on board the close to 280 routes we have for sale. I am pleased to note that our corporate travellers are starting to return to air travel. We know they place high value on our attractive route network and strong on-time performance record,” said Geir Karlsen, CEO of Norwegian.

Punctuality, the share of flights departing on schedule, was 88.1 percent in the first quarter of 2022, up from 87.8 percent in the previous quarter.

During the quarter, Norwegian announced an agreement to lease 10 new and fuel-efficient 737 MAX 8 aircraft with delivery in the spring of 2023. In addition, Norwegian is in the process of leasing an additional five 737 MAX 8 aircraft, which will bring the fleet to 85 aircraft by the summer 2023 season.

Norwegian routes frtom Oslo:

Norwegian ircraft photo gallery:

Norwegian reports a significant increase in passenger figures for April

Norwegian’s traffic figures for April showed that Norwegian had 1.4 million passengers, approximately 50 percent more than the previous month.

“1.4 million passengers chose to fly with Norwegian in April. This is more than a doubling from two months ago, and I am pleased to see that the demand for air travel continues to grow. In a short period of time, we have increased capacity substantially, and at the same time we have improved our earnings,” said Geir Karlsen, CEO of Norwegian.

Norwegian initiated the summer traffic programme by late March, and the production in April was more than 50 percent higher compared to March. Even though the number of new routes launched, the load factor remained high. Despite punctuality being slightly affected by capacity issues at several airports, Norwegian completed more than 99 percent of all scheduled flights. The booking figures for the summer are very positive and the company sees an increasing number of corporate travellers that wish to travel with Norwegian.

Norwegian had 1,400,396 passengers in April, compared with 59,431 in April 2021. The load factor was 78.7 percent. The capacity (ASK) was 2,242 million seat kilometres, while actual passenger traffic (RPK) was 1,764 million seat kilometres. In April, Norwegian operated an average of 60 aircraft, and 99.3 of the scheduled flights were completed. Punctuality was 82.6 percent.

Norwegian Air Shuttle aircraft photo Gallery:

940,000 passengers flew with Norwegian in March

Norwegian’s traffic figures for March displayed a positive trend with growth in passenger numbers and a load factor of above 80 percent. The company recently reopened several bases and direct routes in Europe and will continue to increase capacity ahead of the summer.

“We are particularly pleased that the load factor has remained above 80 per cent despite the introduction of significantly more capacity in March. Booking figures have improved throughout recent weeks and we are pleased to see this continued upward trend in the market. We are seeing a busy Easter travel period with many travelers and several full flights. Towards the summer, we will reopen and introduce new destinations, and our customers can now choose from almost 280 routes in Europe,” said Geir Karlsen, CEO of Norwegian.

Norwegian had 940,149 passengers in March, compared with 71,399 in March 2021. Load factor was 80.3 percent. The capacity (ASK) was 1,485 million seat kilometres, while actual passenger traffic (RPK) was 1,193 million seat kilometres. In March, Norwegian flew an average of 48 aircraft, and 99.4 per cent of scheduled flights were completed. Punctuality was 90.1 percent.

In the summer program, Norwegian will operate almost 280 routes to popular destinations in Europe, with a fleet of 70 aircraft. This week, the company removed the requirement to wear face masks on board all flights.

Norwegian aircraft photo gallery:

Norwegian recruits 150 crew members in Finland – reopens base in Helsinki

"Bjornstjerne Bjornson, Norwegian writer"

As part of the preparations for the summer season, Norwegian has started recruitment of more than 150 air crew that will be based at Helsinki Airport HEL. Approximately 100 cabin crew and 50 pilots will be ready to operate 27 of Europe’s most popular destinations that the company will service from Helsinki Airport during the summer season.

The newly hired crew start working on a rolling basis over the coming months – March, April and May – as they undergo the necessary trainings before they can welcome the passengers onboard as part of their active duty. The 150 will be the first air crew with Norwegian based in Helsinki since April 2020 when the pandemic hit the global aviation industry. Norwegian received almost 2000 applications for the open positions.

Since June 2021 and the first lifting of travel restrictions, the rate of employment has been high at Norwegian and the company has reopened bases in Copenhagen, Stockholm, Bergen, Stavanger and Trondheim.

In March 2022, Norwegian services 14 routes from Helsinki HEL, including the two domestic routes to Oulo and Rovaniemi. During the summer season Norwegian will gradually scale up almost doubling the number of available routes to a total of 27 of Europe’s most popular destinations directly from Helsinki Airport at the peak of the summer.

Top Copyright Photo: Norwegian Air Shuttle (Norwegian.com) Boeing 737-8JP WL LN-DYB (msn 39163) (Bjornstjerne Bjornson, Norwegian writer) OSL (Ton Jochems). Image: 957115.

Norwegian aircraft slide show:

Norwegian aircraft photo gallery:

640,000 passengers flew with Norwegian in February

Norwegian’s traffic figures for February show that the number of passengers has remained stable over the second month of the year. 640,000 passengers flew with the company and load factor was over 81 percent. In February, ticket sales reached the highest level since the outbreak of the pandemic in March 2020.

In February, Norway and many European countries removed entry rules and other measures and restrictions associated with the pandemic.

“February is traditionally a month with lower travel demand, however, figures have remained comparable to the month of January. We are particularly pleased that our aircraft have had a load factor of over 81 percent. When travel restrictions were lifted, we immediately noticed increased demand for flights. We will have a comprehensive summer program this year to meet this demand,” said Geir Karlsen, CEO of Norwegian.

Norwegian carried 643,089 passengers in February, compared with 61,374 in February 2021. The load factor was 81.3 per cent. The capacity (ASK) was 1,089 million seat kilometres, while actual passenger traffic (RPK) was 885 million seat kilometres. In February, Norwegian had an average of 44 aircraft in operation, and 99.8 per cent of scheduled flights were operated. Punctuality was 87.8 percent.

During the summer program, 280 routes to 38 destinations are planned, and Norwegian will have around 70 aircraft in operation. The company has noted a very positive development in future bookings over the last period, and monitors closely the uncertain situation in Europe, the turmoil in the financial markets and the change in oil prices.

Norwegian aircraft photo gallery:

AerCap signs lease agreements with Norwegian Air Shuttle for 10 new Boeing 737-8 MAX 8 Aircraft and 8 Boeing 737-800 NG aircraft

AerCap Holdings N.V. has announced that it has signed agreements with Norwegian Air Shuttle ASA for the lease of ten new Boeing 737 MAX 8 aircraft and eight Boeing 737-800 NG aircraft. The aircraft are scheduled to deliver in 2022 and 2023.

Norwegian also issued this statement:

Norwegian has a long-standing relationship with AerCap, the world’s largest aviation leasing company. The signed lease agreements also include eight Boeing 737-800 NG, which are part of the 70 aircraft fleet operational for the summer 2022 season. With these additions, Norwegian will have a total fleet of 80 aircraft by the summer of 2023.

The Boeing 737 MAX 8 is approximately 14 percent more fuel efficient compared to previous-generation aircraft, hence contributing to Norwegian’s ambitious target to reduce its carbon emissions by 45 percent by 2030, compared to 2010.

Norwegian has previously announced several lease agreements that will increase its fleet from the current 51 aircraft to this summer’s fleet of 70. For some of the aircraft under these agreements, Norwegian has the option to substitute certain aircraft with equivalent narrow-body models from Airbus.

Norwegian aircraft photo gallery:

Norwegian delivers a profit before tax of NOK 117 million and improved cash position in the fourth quarter 2021

Norwegian today reported its fourth quarter and preliminary full year results for 2021. Passenger demand increased from the previous quarter, however, demand was negatively impacted by the outbreak of the coronavirus omicron variant. Profit before tax (EBT) was NOK 117 million, compared to a loss of NOK 16.6 billion in the fourth quarter of 2020 and a profit of NOK 169 million in the third quarter.

In the fourth quarter of 2021, 3.1 million passengers travelled with Norwegian, up from 0.6 million in the same period last year and 2.5 million in the previous quarter. Production (ASK) was 4.6 billion seat kilometres, while passenger traffic (RPK) was 3.6 billion seat kilometres. The load factor increased to 77.0 percent, up from 52.4 percent in the same period 2020 and 73.1 percent in the previous quarter. At the end of the fourth quarter of 2021, the total operational fleet comprised 51 aircraft.

Norwegian has continued to focus on cost control and liquidity discipline across every aspect of the company, which has led the to an improvement in the cash position. By the end of the fourth quarter, cash and cash equivalents increased to NOK 7.7 billion.

“I am pleased that we have been able to adapt to fluctuations quickly and efficiently, and that we can report a profit and an improved cash position in a quarter strongly affected by the omicron virus and government-imposed travel restrictions. I would also like to thank colleagues from across the airline for their continued dedication and hard work. We are looking forward to welcoming more customers on board heading into the busier spring and summer seasons, with a fleet increasing to 70 aircraft and over 270 routes on sale,” said Geir Karlsen, CEO of Norwegian.

Punctuality, meaning share of flights departing on schedule, was 87.8 percent in the fourth quarter of 2021, down from 94.1 percent in the fourth quarter of 2020 and 91.0 percent in the previous quarter. Norwegian was named the most punctual Nordic airline in 2021, and number three in Europe.