Budget airline Norwegian Air has today reported a smaller-than-expected operating loss for the first quarter, and said the result was impacted by a stronger Norwegian crown against the US dollar.
The carrier posted an operating loss of 610.9 million Norwegian crowns ($59m) for the quarter, while analysts polled by the company were expecting a much bigger loss of 976 million crowns.
Norwegian Air also managed to narrow the loss compared to the same period last year, when it reported 762.6 million crowns loss before interest and taxes.
The results were positively impacted by efficiency gains and initiatives implemented during the quarter, including the purchase of 10 previously leased Boeing 737-800 aircraft, the airline said in a press release.
Norwegian Air said its unit cost - the average cost of flying an aircraft seat - excluding fuel in 2025 is expected to increase by a mid-single-digit percentage compared to 2024, assuming current foreign exchange rates.
In February, the carrier forecast its unit cost excluding fuel to increase by a single-digit percentage for the year.
For the full year, Norwegian Air forecast an overall production of about 37,500 million seat kilometres. The reduction in production growth is due to aircraft delivery delays from aircraft maker Boeing, Norwegian said.
The airline did not provide the annual operating profit outlook.
