Losses double to €391m in the Norwegian’s Irish unit

  • Losses double to €391m in the Norwegian’s Irish unit
    Independent.t. E.
    Norwegian air international based in Dublin the hand of Scandinavian carrier, last year, to $445.7 million (€391.1 m) loss, which is almost double the loss it posted in the year 2016.
    https://www.independent.ie/business/world/losses-double-to-391m-at-norwegian-irish-unit-37224631.html
    https://www.independent.ie/business/article37022023.ece/2a11e/AUTOCROP/h342/2016-07-01_bus_22442371_I2.JPG

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Norwegian air international based in Dublin the hand of Scandinavian carrier, last year, to $445.7 million (€391.1 m) loss, which is almost double the loss it posted in the year 2016.

The company said the increased loss is primarily due to the creation of new bases, and “suggestions for clients”, as it increases its presence in the market. Decreased to 55.7 million tax credit on profits to be considered.

And additional revenue ticket on the Irish unit jumped to $1.94 billion (€1.7 billion) last year with $1.43 billion (€1.25 billion) a year earlier.

Its total revenue was just over $2 billion (€1.75 billion) for the year, when $47m rental income from other group companies, and cargo included.

Drawings for the cover of the Irish Department of flights from Ireland, Edinburgh and Belfast in the United States, as well as short haul services throughout Europe, including flights to and from the UK.

At the end of 2017, Norwegian air, operates 12 Boeing 787 “Dreamliner” leases from its parent, 64 Boeing 737-800s and six 737. After the end of the year, Norwegian air International sold commercial interest in the 787 aircraft to the parent company, Norwegian air Shuttle.

In 2017, the parent company also invested $75 million in capital in the Norwegian air.

Accounts show that Norwegian air had 61 people at the end of 2017, and its total payroll for the year was $241m (€211.4 m).

That included $179.2 m on the operational staff, and $61.8 m for administrative staff.

The representative of Norway said the Irish branch made the planned investment in 2017 to support the global expansion of the network.

Norway was under pressure from investors to prove its long-range, low-cost model long-term viability.

She received a net profit of almost €32 million in the second quarter, compared to €73 million loss in the second quarter of 2017.

“We have reached the peak of our growth phase and we plan to build on the success of our transatlantic routes from Ireland by creating more jobs, the introduction of additional flights and new routes to Canada that will benefit Irish consumers and the economy as a whole”, – said the press-Secretary of the Norwegian.

MAG acquired this year by 4.6 PC pack in Norway for the purchase of the carrier.

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