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)

Copyright (c) 2016 Dow Jones & Company, Inc.