The following is a summary of the Norwegian Air Shuttle ASA (NWARF ) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Norwegian Air Shuttle ASA saw its revenues rise by 55% in Q1 2024 compared to the same quarter from the previous year.

• The firm ended the quarter with a loss of NOK 763 million on EBIT, a result that was better than previously expected.

• The company saw a significant rise in unit revenue from 0.63 to 0.73 (17% increase), which was driven by the increase in load factor, improved yield and increased available seat kilometers (ASK).

• Cash position of the firm has improved to NOK 10.4 billion.

• The firm witnessed its EBITDAR rise significantly from a loss of NOK 124 million to a profit of NOK 427 million.

Business Progress:

• The firm has significantly expanded its network by adding more than 100 routes in Wideroe, and optimising its capital structure.

• A better visual profile for the company has been designed, including a new logo.

• Through their partnership with Wideroe in January, they are expecting positive results.

• Growth plan includes a significant capacity increase, bringing in 15 more aircraft than what they had in Q1 2023.

• Expansion into new bases in Riga, Latvia, and launching a new route from Germany to Spain have diversified the network.

• The firm continued its cost efficiency efforts, including the aim to mitigate losses in low seasons while maximising profits in peak seasons.

• Future plans targeting attracting corporate markets, increasing bookings networkwide, and anticipating a significant boost from Wideroe due to less seasonal operations.

• They have plans to insource ground handling in Spain, optimize their base structure and may consider to buy up to 30 MAX 10 aircraft options from Boeing.

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