Norwegian Air's 2025 operating profit hits record NOK 3.7 bln on passenger growth

Norwegian Air Shuttle ASA

13/02/2026 06:12

Overview

Norway airline's 2025 operating profit hits record NOK 3.7 bln, highest in company's history

Company's Q4 operating profit improves from negative result in 2024

Board proposes NOK 0.80/share dividend for 2025, totaling NOK 844 mln

Outlook

Norwegian expects fleet size of 95 aircraft for 2026 summer season

Company forecasts production growth of 3% for Norwegian and 4% for Widerøe in 2026

Program X expected to yield low-single digit cost increase excluding fuel in 2026

Result Drivers

PASSENGER GROWTH - Norwegian Group saw increased passenger numbers in Q4, contributing to improved results

EFFICIENCY INITIATIVES - Program X helped Norwegian counter increased industry costs, contributing to record operating margin

PRODUCTION ADJUSTMENTS - Norwegian reduced production (ASK) by 3% in Q4 to match seasonal demand, while Widerøe increased production by 2%

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY EBIT
NOK 3.73 bln
FY EBIT Margin
9.90%
FY Load Factor
86.00%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "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 NOK18.75, about 9.9% above its February 12 closing price of NOK17.06

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

Press Release: ID:nObidrFn2a

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(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.)