Norwegian Air Reports Narrowing Fourth-Quarter Loss
11 February 2016 - 02:56PM
Dow Jones News
By Christina Zander
STOCKHOLM--Norwegian Air Shuttle ASA (NAS.OS) Thursday said its
losses in the fourth quarter narrowed, reflecting a lower fuel
price.
The company reported a net loss for the three months ended Dec.
31, 2015, of 373 million Norwegian kroner ($43.6 million) as fuel
hedging for 2016 and the depreciation of the Norwegian krone
weighed on results. However, this was an improvement compared with
a net loss of NOK978 million in the same quarter a year earlier as
unit income rose 7% in the quarter, while unit costs were down 2%
due to lower fuel costs.
Sales in the fourth quarter increased 16% to NOK5.32 billion,
while the operating loss was NOK633 million, compared with an
operating loss of NOK1.08 billion a year earlier.
A total of 6.1 million passengers traveled with Norwegian Air in
the fourth quarter, an increase of 9%. The load factor, a measure
of how full planes are, increased by 4 percentage points to
88%.
At 1330 GMT shares traded up 0.1% at NOK262.50.
Write to Christina Zander at christina.zander@wsj.com
(END) Dow Jones Newswires
February 11, 2016 09:41 ET (14:41 GMT)
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