Norwegian Air Shuttle reported a third-quarter operating profit of 2.7 billion Norwegian crowns (US$289.4 million), exceeding the 2.3 billion Norwegian crowns expected by analysts polled by the airline. The result came as the budget carrier recorded strong passenger demand during the peak summer travel period, despite higher jet fuel prices.
The airline said demand had increased significantly across its markets ahead of and during the summer season. It also reported that bookings and load factors were ahead of the same period last year, while describing current ticket-sale trends as “encouraging”. Norwegian has nevertheless reduced capacity plans in response to cost and market pressures affecting the business.
“Passenger demand for air travel with Norwegian grew significantly across markets into the peak summer travel season,” Norwegian Air Shuttle said.
Capacity plans adjusted for the winter period
Norwegian said it had reduced monthly capacity by between 25% and 40% compared with October. The carrier has also cut its planned first-quarter 2027 capacity by more than 5%, citing higher fuel prices and uncertainty connected with the Middle East.
Despite those reductions, the airline expects capacity growth of 2% for the full year, followed by growth of about 5% in 2027. Norwegian said its fleet is expected to expand to approximately 100 aircraft next year, providing the basis for the higher capacity outlook.
| Measure | Figure | Comparison or period |
|---|---|---|
| Operating profit | 2.7 billion Norwegian crowns | Third quarter |
| Analysts’ expectation | 2.3 billion Norwegian crowns | Third-quarter estimate |
| Unit cost | 0.69 Norwegian crowns | Third quarter, up 8% year on year |
| Full-year capacity growth | 2% | Norwegian forecast |
| 2027 capacity growth | About 5% | Norwegian forecast |
Unit costs rise as fuel remains a concern
Norwegian’s unit costs, defined by the airline as the average cost of flying an aircraft seat, rose by 8% from a year earlier to 0.69 Norwegian crowns in the quarter. The increase highlights the pressure on operating costs even as passenger demand and the financial result improved.
The carrier’s comments point to a more selective capacity approach over the coming months. Norwegian is maintaining a positive view of booking performance and expects its fleet to reach about 100 aircraft in 2027, but the planned reduction in early-2027 flying shows that its expansion timetable is being adjusted against fuel costs and Middle East-related uncertainty.
- Third-quarter operating profit was 2.7 billion Norwegian crowns, compared with analysts’ expectation of 2.3 billion Norwegian crowns.
- Unit costs increased by 8% year on year to 0.69 Norwegian crowns per seat.
- Norwegian expects capacity growth of 2% for the full year and about 5% in 2027, when its fleet is expected to reach approximately 100 aircraft.
