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Oct 25 2024, 07:09 IST/BST
Norwegian Air
Solid Q3 but profit range for year narrowed
- Sectors : Airlines
- Companies : Norwegian Air
DAVY VIEW
Norwegian Air’s operating profit in Q2 was solid at NOK2,128m (Norwegian EBIT: NOK1,936m, Widerøe: NOK192m) but a little behind market expectations (NOK2,326m, Davy: NOK2,379m) with unit cost impacted by wage inflation and costs for delayed aircraft (ex-fuel unit cost up 8%). Hence, year-end guidance has been narrowed to NOK2.1-2.4bn (from NOK2.1.-2.6bn). Boeing aircraft delays are impacting growth, but the plan is to have 90 aircraft for next summer.
