Norwegian reports higher unit revenue, better on-time performance and lower CO2-emissions in 2019 – unit revenue increase by 21 percent in December
Press releases • Jan 07, 2020 07:00 UTC
Norwegian’s traffic figures for 2019 show that the company is delivering on its strategy of moving from growth to profitability. The planned capacity reduction and optimisation of the route network have had a positive impact on the figures. In 2019, the capacity, in terms of seat kilometre, was 1 percent higher than the previous year; a little over the previously announced zero growth.
Norwegian upcycles uniforms into a series of new, sustainable products
Press releases • Dec 16, 2019 16:08 UTC
Norwegian’s latest project with UNICEF helps children in need, provides work for immigrant women and reduces the company’s environmental impact. By upcycling the company’s uniforms, thousands of items can be saved from the bin – a crucial move in the fight against textile waste.
Norwegian’s unit revenue increased by 18 percent in November
Press releases • Dec 05, 2019 07:00 UTC
Norwegian’s traffic figures for November shows an increased unit revenue for the eighth consecutive month and was up 18 percent compared to the same month previous year. At the same time, the capacity was reduced, which is in line with the company’s strategy. The load factor was 83 percent, up by 4.2 percentage points.
Norwegian sells Argentinian subsidiary to JetSMART Airlines
Press releases • Dec 04, 2019 15:34 UTC
Norwegian Air Shuttle has signed an agreement for the sale of 100 per cent of its Argentinian subsidiary Norwegian Air Argentina (NAA) to JetSMART Airlines. “We’re taking necessary steps to return to profitability,” said acting CEO Geir Karlsen.
Jacob Schram appointed new CEO of Norwegian
Press releases • Nov 20, 2019 10:37 UTC
Norwegian’s Board of Directors has today appointed Jacob Schram as CEO of Norwegian, starting January 1st 2020. Geir Karlsen will continue as CFO and Deputy CEO.
Norwegian has raised new capital
Press releases • Nov 06, 2019 11:56 UTC
Norwegian has raised NOK 2.5 billion in gross proceeds through a private placement and a convertible bond issue of USD 150 million. After the completion of the transactions, Norwegian is fully funded through 2020 and beyond.
Norwegian reports higher load factor and unit revenue in October
Press releases • Nov 05, 2019 15:56 UTC
Norwegian’s traffic figures for October shows an increased unit revenue for the seventh consecutive month and was up six percent compared to the same month previous year. The load factor was up by more than two percent.
Norwegian Reward launches credit card in the U.S.
Press releases • Nov 05, 2019 11:30 UTC
Norwegian Reward partners with Synchrony and Mastercard to offer a credit card in the U.S. The goal is to offer an even better loyalty program in one of Norwegian’s most important markets.
Norwegian reports its best ever quarterly result with a profit before tax of NOK 2.2 billion
Press releases • Oct 24, 2019 05:00 UTC
Norwegian’s third quarter results are characterized by improved profitability, higher unit revenue, lower unit cost and reduced growth, in line with the strategy. Profit before tax improved by 38 percent to NOK 2.2 billion compared to the same quarter last year.
Norwegian to establish a joint venture for parts of its aircraft fleet with China Construction Bank Leasing Corporation
Press releases • Oct 24, 2019 04:26 UTC
The purpose of the joint venture (JV) between Norwegian and China Leasing International Corporation DAC (CCBLI) will be to finance, own and lease aircraft that Norwegian has on order. The agreement will strengthen Norwegian’s financials considerably.
Initially, the JV comprises 27 Airbus A320 NEO aircraft to be delivered from 2020 to 2023. CCBLI will also provide aircraft financing for aircraft within the JV.
CCBLI is a 100% owned subsidiary of China Construction Bank Corporation, an industry leader in banking, financial services and leasing, and the world’s second largest bank by asset value. CCBLI will be the majority owner of the JV with a 70% share, with Norwegian, through its wholly owned subsidiary Arctic Aviation Assets DAC, holding the remaining 30%.
In addition to a positive equity effect, the JV will reduce Norwegian’s committed capital expenditure by approximately USD 1.5 billion based on the initial 27 aircraft. Aircraft deliveries to the JV will commence in Q1 2020. CCBLI has committed to provide senior debt financing to the JV for the 27 aircraft.
“Following several months of negotiations, I’m very pleased to announce that we have reached an agreement with CCBLI to establish a joint venture for an initial 27 Airbus A320 NEO aircraft. This agreement will contribute significantly to reducing our current and future capital expenditure. The JV is one of many important initiatives that need to be realized to deliver on our strategy of moving from growth to profitability,” said Acting CEO Geir Karlsen of Norwegian.
“I am convinced that CCBLI with its professionalism, financial strength and capabilities will be an excellent partner for Norwegian going forward. This JV is an important first step in building a strong strategic partnership between our two companies,” Karlsen added.
“We have during the past year developed a good relationship to Norwegian, including two already executed transactions and we are very much looking forward to continue to build on this relationship through this JV, said Kevin MI, head of Aviation,” CCBLI.
Norwegian is a listed company on the Oslo Stock Exchange and is the world's fifth largest low-cost airline operating 500 routes to 150 destinations in Europe, North Africa, Middle East, Thailand, Caribbean, the U.S and South America. In 2018, Norwegian carried around 37 million passengers. Norwegian has almost 11,000 employees and a modern, more environmentally friendly fleet of more than 170 aircraft with an average age of 3.8 years. Norwegian has been voted ‘Europe’s best low-cost carrier’ by passengers for six consecutive years from 2013-2018, along with being awarded the ‘World's best low-cost long-haul airline’ for five consecutive years from 2015-2019 at SkyTrax World Airline Awards. The company has been named the most fuel-efficient airline on transatlantic routes for the second time by the International Council on Clean Transportation (ICCT).
For more information, visit www.norwegian.com
The purpose of the joint venture (JV) between Norwegian and China Leasing International Corporation DAC (CCBLI) will be to finance, own and lease aircraft that Norwegian has on order. The agreement will strengthen Norwegian’s financials considerably.
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About Norwegian
Norwegian is the world’s fifth largest low-cost airline
Norwegian is a listed company on the Oslo Stock Exchange and is one of the largest low-cost airlines in the world, operating 500 routes to 150 destinations in Europe, North Africa, Middle East, Thailand, the U.S and South America. In 2019, Norwegian carried more than 36 million passengers. Norwegian has almost 11,000 employees and a... Show more
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