Friday, July 12, 2024 The Norwegian Group has reported a significant operational performance for the second quarter of 2024, achieving an operating profit (EBIT) of NOK 593 million. This period was characterized by strong capacity and passenger growth, although slightly lower demand affected ticket prices. The company’s operational efficiency, improved cost management, and robust cash flow were notable highlights of this quarter.
Impressive Financial Performance For the second quarter of 2024, the Norwegian Group achieved an operating profit (EBIT) of NOK 593 million, representing an operating margin of 6.3 percent. The profit before tax (EBT) for the quarter stood at NOK 477 million.
The liquidity position saw an improvement, reaching NOK 11.5 billion by the end of the quarter, an increase of NOK 1.1 billion from the previous quarter.
The Norwegian fleet consisted of 86 aircraft, including 22 latest technology 737 MAX 8 aircraft, while the Widerøe fleet comprised 49 aircraft. Operational Efficiency and Passenger Growth Geir Karlsen, CEO of Norwegian, remarked on the strong operations delivered in the second quarter amidst the hectic ramp-up into the summer season. He noted that Norwegian was named Europe’s most punctual airline in May.
Both Norwegian and Widerøe demonstrated strong passenger growth, with an increasing number of routes, frequencies, and destinations, ready to welcome more passengers on board. During this quarter, the Norwegian Group carried 7.3 million .