Norwegian Group today presents its results for the second quarter of 2026. Despite a weaker financial result compared to last year, the Group had good cost control and increased customer satisfaction. Both Norwegian and Widerøe were at the top of Europe in terms of operational performance during a period of increased capacity ahead of the important summer season.
For the second quarter of 2026, the Norwegian Group had an operating profit (EBIT) of minus NOK 603 million. The quarterly result was significantly affected by the decision of the Supreme Court of Norway on EU ETS obligations for 2020, increased fuel costs and the fact that Easter fell earlier this year compared to last year. Adjusted for other losses, the operating profit amounted to NOK 213 million, with an operating margin of 2 percent. The unit cost excluding fuel in the quarter decreased by 5 percent compared to the same period last year. Liquidity remains solid and amounted to NOK 13.7 billion at the end of the quarter.
– We have had good operational performance and full focus on cost control, which we are seeing the effect of in the second quarter. While the financial results were weaker than expected, the cost focus continued to deliver results and unit costs excluding fuel decreased by 5 percent compared to last year. In May, Norwegian was the most punctual airline in Europe. The bookings ahead look good and we are well positioned for the coming months, says Norwegian's CEO Geir Karlsen.
The Norwegian Group had 7.8 million passengers in the second quarter, of which 6.7 million flew with Norwegian and 1.1 million with Widerøe. Capacity (ASK) for Norwegian increased by 5 percent during the quarter, while Widerøe's capacity increased by 3 percent. Norwegian's load factor during the quarter was 82.5 percent, down 2.7 percentage points from the same period last year, partly due to the early Easter this year. Widerøe had a load factor of 72.8 percent.
Both punctuality and regularity improved for both airlines. Norwegian's punctuality increased to 86.4 percent and Widerøe's to 94.2 percent, while regularity was 99.6 percent and 98.3 percent, respectively. In May, Norwegian was named Europe's most punctual airline and in April, the second most punctual, by the analysis company Cirium, confirming an outstanding operational performance in the build-up to the summer season.
The acquisition of the travel group NLTG and Spenn grows
In June, the group announced an agreement to acquire Nordic Leisure Travel Group (NLTG), the leading Nordic tour operator, for SEK 7.94 billion. Norwegian's shareholders approved the acquisition on July 8, 2026, and approval from the EU competition authorities is now awaited. Completion of the deal is expected to take place by the end of 2026. In June, Norwegian grocery chain REMA 1000 also joined the joint loyalty program Spenn, where customers can earn points when they shop for food. The collaboration with the retail group Reitan Retail means a large number of transactions per day on the platform.
– This quarter has been marked by strategically important milestones for the Group. We are very pleased that the acquisition of Nordic Leisure Travel Group was approved at the Annual General Meeting on July 8, which brings us closer to completing this important deal. REMA 1000 has also joined Spenn and we look forward to the platform's further growth, continues Geir Karlsen.
In the second half of 2026, the recent increase in bookings is encouraging and ticket sales are ahead of last year's sales. Norwegian's capacity (ASK) for the third quarter is expected to increase by 5 percent compared to the same period last year, while capacity for the full year is expected to increase by approximately 3 percent. For Widerøe, an overall capacity increase (ASK) of 2 percent is expected for 2026.
At the end of the quarter, the Norwegian Group's fleet consisted of 145 aircraft, of which 95 aircraft belonged to Norwegian's fleet (including 36 Boeing 737 MAX 8 with the latest technology) and 50 aircraft belonged to Widerøe's fleet.
