Scandinavian carrier Norwegian expects to exceed the range it had forecast for its full-year operating profit, partly thanks to stronger-than-expected travel demand in November and December.

In a 24 January stock exchange announcement, the Oslo-based carrier cites a November forecast that it would achieve an operating profit in the range of NKr1.8 billion ($172 million) to NKr2.0 billion, stating that it now expects to report a profit of NKr2.2 billion.


Source: kamilpetran/Shutterstock

Norwegian saw strong demand in the last two months of 2023

“The improvement in the results outlook is predominately an effect of stronger-than-anticipated traffic demand in November and December of 2023, the settlement of a trademark dispute with Bank Norwegian as announced on 7 November 2023, and compensation related to aircraft delivery delays,” Norwegian says.

“Favourable development in the price of jet fuel and foreign exchange rates have also had a positive impact on the results outlook,” it adds.

Norwegian is due to report its fourth-quarter and full-year earnings on 16 February.