Norwegian Air has today raised its earnings forecast for 2023, saying it now expects an operating profit of about 2.2 billion Norwegian crowns ($209.65m), up from an earlier range between 1.8 billion and 2 billion crowns.
The guidance hike primarily follows stronger than expected traffic demand in November and December, Norwegian said, as well as the settlement of a trademark dispute with Bank Norwegian and compensation related to aircraft delivery delays.
"Favourable development in the price of jet fuel and foreign exchange rates have also had a positive impact on the results outlook," Norwegian said.
Norwegian said its 2023 unit cost excluding fuel per available seat kilometre was now seen at about 0.48 Norwegian crowns for the year, at the high end of its earlier 0.47-0.48 crowns range.
The carrier will publish its results for the fourth quarter on February 16.
Scandinavian rival SAS, which in 2022 filed for bankruptcy protection after years of struggling with high costs and the effects of the coronavirus pandemic, said today it expected to complete the Chapter 11 process by the end of June.
SAS in a statement forecast its revenue to exceed 48 billion Swedish crowns in 2024.
