OSLO - Norwegian Air Shuttle ASA says its second-quarter net profits soared by almost 70 per cent thanks to an upswing in passenger numbers and the switch-over to a leaner and larger aircraft fleet, capable of reducing both maintenance and jet fuel costs.
Thursday's report showed a net profit of 90.5 million kroner ($14.83 million) in the quarter ending June 30, up sharply from the 53.7 million kroner reported in the same quarter last year.
Revenues reached 3.17 billion kroner, increasing from 2.7 billion kroner. The number of passengers rose by 11 per cent compared with the year-ago quarter and maintenance and jet fuel costs were slashed on the back of its gradual transition to Boeing 737-800Ws, calling it "a more efficient fleet."
Going forward, it says it will continue to exercise "competitive pressure."