Norwegian lowers operating profit outlook for 2024 after wage increases and Boeing delays

Norwegian has lowered its operating profit outlook for 2024 in its revision on July 4, 2024. The group is now forecasting an operating profit of NOK 2.1bn-2.6bn Norwegian krone ($198.5 million-245.8 million), down from its initial forecast of 2.5bn-3.2bn Norwegian krone ($236.3 million-302.5 million). Several factors contributed to the revision. Norwegian saw softer traffic demand during the second quarter, with a contraction in both load factor and yield compared to last year. “Primarily due to a significant capacity increase on longer flights, Norwegian experienced a slight decrease in yield and load factor,” said Norwegian CEO Geir Karlsen. “We are excited