Norwegian narrows Q1 loss

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Norwegian narrowed its first-quarter pre-tax loss to Nkr160 million ($28 million) from Nkr398 million last year, as a cost-cutting drive took effect.

Total revenues rose 23% to Nkr2.9 billion, as revenue passenger-kilometres climbed by 19%. Available seat-kilometres were up 21%, but cost per ASK fell by 8%. The airline cites new bases - at London Gatwick and Alicante - and the delivery of new Boeing 737-800s as "the main cost-reducing factors". Six 737-800s have been handed over to the carrier so far this year, and for 2013 as a whole ASKs are expected to grow by more than a quarter.

Load factor was 76%, down one percentage point from the first quarter of 2012.