Thursday, 26 April 2018

Norwegian Air's Growth Plans Could Be Hit By Engine Problems On Boeing 787 Jets.

The low-cost airline made a loss of 4.16m between January and March.

The formidable growth of Norwegian Air Shuttle continues, with a capacity of 36 per cent in the first quarter of 2018. But problems with the engines on Boeing 787 Dreamliner aircraft could affect its ambitious plans for 2018, the airline said in its Q1 results.

The airline made a loss of 46.2 million Norwegian krone (£4.16m) between January and March, a tiny figure compared with the NOK1.49bn (£134m) loss in the same quarter previous year. But the result was “positively affected by a financial gain from reclassification of the investment in Norwegian Finans Holding of NOK1.9bn”. 

Without it, the airline’s operating loss before interest was NOK2.18bn (£197m), up 36 per cent on the loss last year — exactly in line with the increase in capacity expressed in available seat-kilometres.

By Simon Calder.

Full story at Independent.

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