Norwegian Air International lost €205m in 2016


Norwegian Air International lost €205m in 2016
  1. Norwegian Air International lost €205m in 2016
    irishtimes.com
    Accounts show that Scandinavian group’s Irish arm sold €1.4 bil…
    Business

Norwegian Air Shuttle’s Irish subsidiary lost more than €200 million on the sale of European flights last year, the latest figures show.

The Scandinavian group’s Irish arm, Norwegian Air International, recently began flying from Ireland the north eastern US.

Accounts just filed for the Dublin-based company show that it lost €205 million in 2016, almost four times the €60 million shortfall recorded in 2015.

Revenues more than doubled to €1.52 billion from €720 million as the group continued to expand its operations.

The figures cover Norwegian’s flights within Europe last year and do not include the services launched from this country in July.

Revenues from those flights, from Belfast, Cork, Dublin and Shannon, will feature in this year’s accounts, which will be published in 2018.

According to the 2017 accounts, the sale of flights accounted for €1.43 billion of total revenue.

It earned a further €90 million leasing craft to other Norwegian Air Shuttle companies.

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