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Norwegian profit soars 361pc to US$135.7 million in 2016 on expansion
NORWEGIAN, otherwise known as Norwegian Air Shuttle, posted a record 361 per cent year-on-year net profit increase to NOK1.13 billion (US$135.7 million) in 2016 drawn on revenues of NOK26.05, up 15.8 per cent.
The carrier said its huge net profit increase had been achieved on the back of "global expansion driven by new routes, high load factors and continued fleet renewal".
New intercontinental routes were added over the year, while the carrier also increased its connections to the UK and Spain. The company also took delivery of 21 brand new aircraft in 2016.
"We are pleased to report our best ever results in a year of strong international growth, establishing operations in new markets and tough competition," said Norwegian CEO Bjorn Kjos.
"We enter 2017 with the ambition to increase and strengthen our foothold in established markets, while simultaneously developing our route network in new parts of the world.
"This year, 32 brand new aircraft will enter service, including nine Boeing 787-9 Dreamliners. We will launch more than 50 new routes and recruit over 2,000 new colleagues worldwide," he said.
Norwegian Cargo, which was formed in April 2013, handles the group's commercial cargo activities.
The carrier said its huge net profit increase had been achieved on the back of "global expansion driven by new routes, high load factors and continued fleet renewal".
New intercontinental routes were added over the year, while the carrier also increased its connections to the UK and Spain. The company also took delivery of 21 brand new aircraft in 2016.
"We are pleased to report our best ever results in a year of strong international growth, establishing operations in new markets and tough competition," said Norwegian CEO Bjorn Kjos.
"We enter 2017 with the ambition to increase and strengthen our foothold in established markets, while simultaneously developing our route network in new parts of the world.
"This year, 32 brand new aircraft will enter service, including nine Boeing 787-9 Dreamliners. We will launch more than 50 new routes and recruit over 2,000 new colleagues worldwide," he said.
Norwegian Cargo, which was formed in April 2013, handles the group's commercial cargo activities.
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