Nearly 17 Billion in Loss for Norwegian

Norwegian lost NOK 16.6 billion in 2020, according to the airline‘s financial statements. Half of this, however, is write-downs regarding the aircraft fleet.

The company also states in the report that negotiations with the lenders on a rescue plan to survive the pandemic are continuing as planned.

During the fourth quarter, 574,000 customers flew with Norwegian, a decrease of 92 percent compared with the same period last year. The cabin factor was 52.4 percent, a decrease of 32.5 percentage points compared to the fourth quarter of 2019.

“2020 was an exceptionally demanding year for the entire aviation industry and for Norwegian. The result for the fourth quarter is therefore not surprising. Unfortunately, a large proportion of our employees have been laid off and many have lost their jobs, partly due to the cessation of long-distance operations”, says Norwegian‘s CEO Jacob Schram in a press release.

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