Norwegian Air Shuttle (DY) reported a first-quarter net loss of $49.8 million, a slight improvement on its loss of $51 million for the year-ago period. DY president and CEO Bjorn Kjos said the results were due to the first quarter being a traditionally weak period, combined with “particularly challenging” oil prices, up some 15% compared to the same period last year.
Revenue rose 25% to $412 million and traffic rose 19% to 3.6 million passengers. Despite a 17% rise in capacity, load factors rose 3% to 77%. Yields also rose 3%.
New Boeing 737-800s entering the fleet to replace older, less fuel-efficient 737-300s was helping offset fuel expenditures, Kjos said.
Article Source : ATW Daily News
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