Norwegian Air said it returned to profit in the second quarter from losses in the first quarter of the year as travel restrictions eased, but added that high fuel costs will have a negative impact on results for the year.
The low-cost airline posted a net profit of 1.25 billion crowns ($129.5 million) for the April-June period, compared with losses of 1 billion crowns from January to March.
“This quarter demonstrated our ability to rapidly increase capacity and effectively respond to strong demand for air travel,” the CEO said in a statement.
Current booking trends are also encouraging, with many consumers booking their holidays for the autumn season, the company added.
Rising energy costs around the world, however, will affect profits for the year.
“High energy prices are expected to have a partially negative impact on the company’s results for 2022,” Norwegian said.
Source: Capital
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