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Norwegian Air Shuttle ASA
XMUN:NWC

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Norwegian Air Shuttle ASA
XMUN:NWC
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Price: 1.158 EUR 1.71% Market Closed
Market Cap: €1.1B

Norwegian Air Shuttle ASA
Investor Relations

Norwegian Air Shuttle ASA is an airline that carries passengers mainly on short- and medium-haul routes in the Nordic region and across Europe. It sells plane tickets under the Norwegian brand and also earns money from extras such as checked bags, seat choices, onboard food and drink, and other travel add-ons. Its main customers are leisure travelers, people visiting family and friends, and business travelers who want a lower-cost fare on routes where price matters. The company’s core job is to move passengers between city pairs, using a low-cost airline model that keeps the product simple and focuses on flying frequent routes. What makes its business different is that it sits in the middle of the travel value chain as a direct consumer airline, not a travel agent or aircraft manufacturer. It makes money when seats are filled and when customers buy extras, so its results depend heavily on demand for air travel, route planning, fuel costs, and careful control of operating expenses.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Jul 14, 2026
AI Summary
Q2 2026

Soft quarter: Norwegian said second-quarter results came in weaker than expected, mainly because of a NOK 733 million EU ETS loss and higher fuel costs, even though underlying EBIT excluding other losses was NOK 213 million.

Demand recovered: The company saw softer demand through April and May, but management said bookings turned around in mid-June and look stronger for the fall, with September and October especially solid so far.

Cost control: Excluding fuel, unit costs fell 5% year over year, and management lowered full-year cost guidance to flat versus last year.

Balance sheet: Liquidity remained strong at NOK 13.7 billion, and the company said it will be essentially debt-free by the end of September except for aircraft financing.

Strategic move: Norwegian highlighted the planned acquisition of Nordic Leisure Travel Group as a major step into the holiday package market, with closing targeted for the fourth quarter of 2026.

Loyalty momentum: The Spenn loyalty platform gained traction after REMA 1000 joined, and NPS improved sharply to 52.4 from 38.5 in 2023.

Key Financials
EBIT
NOK 213 million
Revenue
NOK 10.4 billion
Passengers
7.8 million
Capacity
up 5%
Load factor
slightly down
Unit revenue
down 5%
CASK excluding fuel
down 5% year over year
Fuel cost
up NOK 837 million
Other losses
NOK 817 million
EU ETS loss
NOK 733 million
Net profit
negative NOK 555 million
Liquidity
NOK 13.7 billion
Cash balance
NOK 11.0 billion
Operating cash flow
NOK 1.5 billion
Dividend payment
NOK 841 million
Gain on aircraft buyback
NOK 95 million
Widerøe EBIT
NOK 193 million
Corporate revenues
up 6%
NPS
52.4
Spenn earners
3.1 million
Spenn earned
NOK 7.6 billion
Brand awareness
59% in Norway
Program X delivered
NOK 321 million
Jet fuel prices
up 33% year over year
Hedge ratio
a little bit more than 50%
Other Earnings Calls

Management

Mr. Geir Magne Karlsen
Chief Executive Officer
No Bio Available
Mr. Hans-Joergen Wibstad
Chief Financial Officer
No Bio Available
Mr. Henrik Fjeld
Chief Operation Officer
No Bio Available
Ms. Anne-Sissel Skanvik
Chief Communications & Public Affairs Officer
No Bio Available
Ms. Guro H. Poulsen
Chief People Officer
No Bio Available
Mr. Knut Olav Irgens Melhus Hoeg
Chief IT & Business Services Officer
No Bio Available
Mr. Magnus Thome Maursund
Chief Commercial Officer
No Bio Available
Mr. Tore Kristian Jenssen
Chief Executive Officer of Widerøe
No Bio Available
Mr. Jesper M. Hatletveit
Vice President of Investor Relations
No Bio Available
Anders Fagernæs
Norwegian Head of Environmental Sustainability
No Bio Available

Contacts

Address
AKERSHUS
Lysaker
Oksenoyveien 3, Postboks 115
Contacts
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