Norwegian has reported a full year 2022 operating profit of just over NOK 1.5bn (US$ 146 million) and an operating loss of NOK 39 million or the fourth quarter of 2022 (Q4 2022).
In Q4 2022 the airline said it limited losses before tax to NOK 80 million "in a quarter characterised by seasonally softer demand", which its said showed its "ability to adjust capacity and conserve liquidity when moving from the busy summer season and into the quieter winter trading period".
During the quarter, it flew 4.6 million passengers, up from 3.1 million in Q4 2021. "Production (ASK) was 6.9 billion seat kilometres, while passenger traffic (RPK) was 5.7 billion seat kilometres. The load factor increased to 81.4% from 77% in the same period last year," the carrier said.
In turn, "continued liquidity discipline" left ending the year with a cash position of NOK 7.8bn, At the same time, it had a fleet of 70 aircraft.
"We now close a chapter on 2022, a year where our operations have performed well, in spite of sweeping industry challenges across European airports. For the full year, we delivered an operating profit of NOK 1,502 million despite record-high fuel prices and a strong US dollar," said chief executive Geir Karlsen, who welcomed Norwegian being praised by aviation analysis company Cirium for its punctuality throughout the year.
"Norwegian is well positioned to further solidify the position as a leading Nordic airline in 2023. Norwegian has more than 300 routes for sale across the Nordics and to attractive European destinations," the carrier said, reminding that it recently signed a letter of intent for six Boeing 737 MAX 8 aircraft on lease from Air Lease Corporation (ALC) to be delivered before summer 2023.