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Budget airline Norwegian posts 27 pct jump in Q2 sales, while earnings double

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(Globalpost/GlobalPost)

OSLO - Norwegian Air Shuttle says its first-quarter revenues and earnings soared compared with a year ago thanks to a 23 per cent jump in passenger numbers and a cost reduction program.

The fast-growing budget airline says that profit for the quarter more than doubled over the past year to reach 197 million kroner ($32.4 million), while sales jumped 27 per cent to reach 4 billion kroner ($660 million).

Norwegian said Thursday that it handled 5.5 million passengers in the three-month period and the load factor was 77 per cent, up one percentage point from the second quarter in 2012.

The low-cost airline, which is based in a suburb of Oslo, mainly flies in Europe but in recent months has launched long-distance flights to North America and Southeast Asia.

http://www.globalpost.com/dispatch/news/the-canadian-press/130711/budget-airline-norwegian-posts-27-pct-jump-q2-sales-while-ea