The Norwegian group today presented its results for the first quarter of 2026 with a strong outcome for the seasonally weakest quarter of the year. Norwegian had a record-high load factor for a first quarter of 87.6 percent, a significantly lower operating deficit, and an increase in the group's liquidity to NOK 14.2 billion.
The figures show the group's ability to deliver strong financial results even in an uncertain macroeconomic climate, based on cost control and stable operations. Operating profit (EBIT) was NOK 220 million, compared to a loss of NOK 611 million in the same period last year. Profit before tax (EBT) amounted to a loss of NOK 459 million for the quarter. The results were positively impacted by a strengthened Norwegian krone, as well as gains related to fuel hedging and a reduced price for emission allowances (EU ETS).
– Although we are pleased that general demand looks good, we are navigating a complex and unpredictable market with both economic and political uncertainty. Despite this, we had positive development during the first quarter with stable and reliable operations as well as good cost control, says Norwegian's CEO Geir Karlsen.
The Norwegian Group carried 5.2 million passengers in the first quarter, of which 4.2 million travelled with Norwegian and 0.9 million with Widerøe. Norwegian's capacity (ASK) decreased by 6 per cent, while Widerøe's capacity decreased by 2 per cent. Actual passenger traffic (RPK) was stable for Norwegian compared to the same period last year, while for Widerøe it decreased by 1 per cent. Norwegian's load factor during the quarter was 87.6 per cent, an increase of 5.2 percentage points compared to the same period last year, while Widerøe had a load factor of 70.2 per cent.
Punctuality during the quarter was 78.8 percent for Norwegian and 87.2 percent for Widerøe. At the end of the quarter, the group had a fleet of 145 aircraft, of which 95 were in Norwegian's fleet and 50 in Widerøe's fleet.
The group's loyalty programme, Norwegian Reward, continued to attract new members. During the quarter, the programme surpassed 8.5 million members.
– We are entering the summer season with good momentum, thanks to a continued positive booking trend in central parts of the route network. We are very grateful for the trust customers are showing us, which we received confirmation of when Norwegian was recently once again named ”Norway’s best domestic airline”. We will continue to work for that trust every day, through reliable operations and positive customer experiences, continues Geir Karlsen.
During the quarter, Norwegian launched Denmark's first domestic route with 40 percent sustainable aviation fuel (SAF), through a public procurement process. Furthermore, Norwegian cancelled flights to destinations in the Middle East due to the uncertain situation in the region. Norwegian has also appealed a judgment from the Borgarting Court of Appeal in Norway to the Supreme Court concerning the company's EU ETS obligations during 2020.
