Norwegian today reported its full year and fourth quarter 2019 results. Year on year, unit revenue increased in nine consecutive months, driven by maturing routes and the optimization of Norwegian's global route network. The punctuality has improved considerably during the past six quarters, and in the fourth quarter 2019 it was up 3.1 percentage points to 82.6 percent.

Norwegian’s traffic figures for January show that the company continues to deliver on its strategy of moving from growth to profitability with significant improvement in unit revenue, load factor and record high punctuality.

To ensure that everyone travelling with Norwegian has a smooth, comfortable flight that departs on time, the company is today implementing a new hand baggage policy. Bookings made before January 23rd will not be affected by the new policy.

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’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 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 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.

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 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’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.