Corrected: Norway's Norwegian Air Q1 EBIT loss narrows, load factor hits record high

Norwegian Air Shuttle ASA

28/04/2026 06:18

Corrects EBIT to loss of NOK 220 mln, from profit of NOK 14.20 bln, in Key Details table

Overview

Norwegian airline's Q1 EBIT loss narrowed year-on-year, liquidity rose to NOK 14.2 bln

Company posted record-high Q1 load factor of 87.6% for Norwegian unit

Results aided by cost control, stronger krone, and gains from jet fuel hedges

Outlook

Norwegian Air says it is heading into summer season with good momentum and positive booking trend

Company says it is navigating a complex and unpredictable market with economic and political uncertainty

Norwegian Air cancelled flights to Middle East destinations due to regional security situation

Result Drivers

COST CONTROL - Co said improved results were underpinned by a focus on cost control and operational performance

CURRENCY AND FUEL GAINS - Results benefited from a strengthened Norwegian krone, gains on jet fuel hedges, and reduced EU ETS allowance prices

Company press release: ID:nObiKBMnRa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EBIT
-NOK 220 mln
Q1 Load Factor
87.60%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the airlines peer group is "buy"

Wall Street's median 12-month price target for Norwegian Air Shuttle ASA is NOK17.50, about 31.3% above its April 27 closing price of NOK13.33

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 8 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)