Norwegian

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

Norwegian reports increased passenger traffic and higher revenues in September

Press releases • Oct 04, 2019 06:14 UTC

Norwegian carried more than 3.3 million passengers in September. The unit revenue increased for the sixth consecutive month and was up by six percent compared to the same month previous year.

Norwegian’s loyalty programme reaches 10 million members – three new members every minute

Press releases • Sep 27, 2019 06:00 UTC

Norwegian’s loyalty programme, Norwegian Reward, has reached 10 million members. So far in 2019, more than three new members signed up to the loyalty programme every minute.

Norwegian reports increased unit revenue and higher load factor in August

Press releases • Sep 05, 2019 06:01 UTC

Norwegian carried more than 3.5 million passengers in August. The unit revenue increased by three percent and the load factor was 90 percent, up 0.4 percentage points.