Re: L'ultima di O'Leary: "Norwegian non supererà l'inverno"
Escalation of costs causes turbulence for Norwegian
Scandinavian airline Norwegian made a net loss of €30.8m in 2017, according to a statement from the airline today.
Earnings before interest, taxes and depreciations (EBITDA) was €6.2m.
The loss was driven by "significant" costs related to increased fuel prices, leasing and staff. Excluding fuel, costs increased by 6pc.
Revenue at the airline was up 19pc year-on-year at €3.1bn, which came in ahead of expectations, according to Davy analysts.
During the year a total of 32 new aircraft entered Norwegian’s fleet, contributing to a production growth of 25pc.
The load factor at the airline was unchanged at 88pc, while more than 33 million passengers chose to travel with the airline in 2017, an increase of 13pc compared to previous year.
Commenting on the results, Bjørn Kjos CEO of Norwegian, said he was “not at all satisfied” with the performance, however he noted that the year had been one of global expansion for the company driven by new routes, high load factors and fleet renewal.
Going forwards, the airline said it was "far better positioned," with stronger bookings and a better staffing situation.
Major investments had also been done in 2017 to prepare for future growth, the airline said.
"Norwegian is far better positioned for 2018, with stronger bookings, a growing network of intercontinental routes complementing our vast European network and not least, a better staffing situation," Mr Kjos said.
Earlier this month the airline announced that it had add a second daily service to its Dublin-New York route from April for the summer season.
It's also increasing its summer service from Shannon, doubling the frequency of flights to Providence, Rhode Island, from two to four a week, and adding a third weekly flight to New York.
Norwegian said it was adding the additional flights due to the level of demand from both leisure and business travellers for the services.
https://www.independent.ie/business...causes-turbulence-for-norwegian-36606663.html
NORWEGIAN: AIRLINE BOSS ‘NOT AT ALL SATISFIED WITH THE 2017 RESULTS’
Loss leader: for every passenger Norwegian carried in the fourth quarter, the airline lost £10 / Simon Calder
The fast-growing low-cost airline, Norwegian, made a net loss of 300m kroner (£27.4m) in 2017, particularly hit by a sluggish performance during the last three months of the year. The carrier said: “The airline industry is undergoing a challenging time as a consequence of Brexit and strong competition.”
Between October and December, the airline lost 918m kroner (£84m), representing over £10 for every passenger carried in the fourth quarter.
Bjorn Kjos, Norwegian’s chief executive, said: “We are not at all satisfied with the 2017 results.
“However, the year was also characterised by global expansion driven by new routes, high load factors and continued fleet renewal.
“Our major global expansion reaches its peak in the second half of 2018, when 32 of our 42 Dreamliners on order will have been put into service.”
Norwegian was founded 25 years ago, with a single route from Bergen to Trondheim. It has grown from a tiny regional operation to become Scandinavia’s largest airline and the third-biggest budget carrier in Europe, carrying 33 million passengers during 2017.
It has an expanding base at Gatwick, where the maiden Norwegian flight from Buenos Aires arrived in the early hours of Thursday morning. It uses a Boeing 787 “Dreamliner” jet.
Norwegian is opening an Argentinian subsidiary to fly domestic and regional services, with connections from the Gatwick service.
Services from the Sussex airport to Chicago and Denver begin next month.
Yesterday Norwegian outlined hopes for further expansion to Asia and the Americas. But British Airways has been aggressively targeting Norwegian, setting up routes from Gatwick to Oakland in California and Fort Lauderdale in Florida, in direct competition with the budget airline.
Writing ahead of the results, analyst Bjorn Fehrm of Leeham News and Comment said: “A fast expansion costs money. This is fine if done by a company with a solid balance sheet and enough cash reserves. Norwegian has neither.”
The airline itself said: “Norwegian is far better positioned for 2018, with stronger bookings, a growing network of intercontinental routes complementing our vast European network and not least, a better staffing situation.”
But Norwegian concedes: “Future demand is dependent on sustained consumer and business confidence in the company’s key markets.”
http://www.independent.co.uk/travel...-brexit-competition-challenging-a8211716.html
Kjos, Norwegian: «Insoddisfatti dei risultati 2017»
[ 0 ] 15 febbraio 2018 10:01
«Non siamo per niente soddisfatti dei risultati 2017»: questo il commento di Bjorn Kjos, ceo di Norwegian (nella foto), sull’andamento dell’anno appena chiuso, che ha visto la compagnia aerea registrare un rosso di 299 milioni di corone norvegesi (circa 27,4 milioni di sterline). «L’industria del trasporto aereo affronta una situazione molto sfidante, derivante anche dagli effetti della Brexit e dalla competizione sempre più forte. In ogni caso il 2017 è stato anche caratterizzato da una forte espansione della compagnia, sostenuta dall’apertura di nuove rotte, load factor elevati e un costante rinnovo della flotta. Questa espansione raggiungerà il suo picco nella seconda parte del 2018, quando 32 dei 42 Dreamliner in ordine saranno entrati in servizio». Guardando al 2018, «Norwegian è molto meglio posizionata, con un andamento molto positivo delle prenotazioni e, non da ultimo, una migliore situazione del personale».
I ricavi complessivi hanno raggiunto i 31 miliardi di corone (2,8 miliardi di sterline), pari ad una crescita del 19% rispetto al 2016; il load factor si è mantenuto stabile all’88%, mentre i passeggeri trasportati sono stati oltre 33 milioni, il 13% in più sull’anno precedente.
- TQ -
e qui comunicato ufficiale del vettore
Norwegian reports 2017 full year results influenced by global expansion, fleet renewal and extraordinary costs
Press Release • Feb 15, 2018 06:00 GMT
Norwegian today reported its full year and fourth quarter 2017 results. The net loss was -299 million NOK (-£27.4 million) in 2017, while the earnings before interest, taxes and depreciations (EBITDA) was 60 million NOK (£5.5 million). Significant costs related to increased fuel prices, wet lease and passenger care affect the results. Going into 2018, Norwegian is far better positioned with stronger bookings and a better staffing situation. Major investments have also been done in 2017 to prepare for future growth.
The company’s total revenue was almost 31 billion NOK (£2.8 billion) - an increase of 19 per cent compared to 2016. A total of 32 brand new aircraft entered the fleet, contributing to a production growth (ASK) of 25 percent. The load factor was unchanged at 88 percent. A total of more than 33 million passengers chose to travel with Norwegian in 2017, an increase of 13 percent compared to previous year.
For the fourth quarter, the net loss was 919 million NOK (£84.4 million). The total revenue was more than 7.8 billion NOK (£716.5 million), an increase of 30 percent from the same period last year, primarily driven by international growth as well as an increased traffic in the Nordics. Just over 8 million passengers flew with Norwegian this quarter, a growth of 12 percent. The load factor was 85.3 percent. Norwegian made major investments in the fourth quarter related to training of pilots and cabin crew on both its wide-body and narrow-body fleet to prepare for the growth in 2018.
“We are not at all satisfied with the 2017 results. However, the year was also characterized by global expansion driven by new routes, high load factors and continued fleet renewal. Through our global strategy, we contribute to local economic boost and increased employment at our destinations, as well as ensuring that more people can afford to fly - not least between the continents. In 2017, we received several major international customer awards, which would never have been possible without our dedicated colleagues at Norwegian,” said CEO Bjørn Kjos of Norwegian.
“Norwegian is far better positioned for 2018, with stronger bookings, a growing network of intercontinental routes complementing our vast European network and not least, a better staffing situation. Our major global expansion reaches its peak in the second half of 2018, when 32 of our 42 Dreamliners on order will have been put into service,” Kjos continued.
For detailed information, please see pdf attached.
Media Contacts:
VP Communications Lasse Sandaker-Nielsen, tel + 47 45 45 60 12
https://media.norwegian.com/uk/#/pr...fleet-renewal-and-extraordinary-costs-2417623
