Norwegian Group Reports Q2 Results

Norwegian Q2 Results Reflect Cost Focus and Operational Performance

Norwegian Group has reported its financial results for the second quarter of 2026, with earnings affected by higher fuel costs, the timing of Easter and the impact of the 2020 EU Emissions Trading System (EU ETS) ruling.

Despite lower financial results compared with the same period last year, the group reported continued progress in cost management, operational performance and customer service across Norwegian and Widerøe.

Financial Performance

The group recorded an operating loss (EBIT) of NOK 603 million during the second quarter.

Excluding other losses, the operating result stood at NOK 213 million, with an operating margin of 2%. The company also reduced unit costs, excluding fuel, by 5% compared with the same quarter in 2025.

At the end of the quarter, Norwegian Group reported a liquidity position of NOK 13.7 billion.

Passenger Traffic and Operations

During the second quarter, the group carried 7.8 million passengers, including:

• 6.7 million passengers with Norwegian
• 1.1 million passengers with Widerøe

Norwegian increased capacity by 5%, while Widerøe expanded capacity by 3%.

The load factor reached:

• 82.5% for Norwegian
• 72.8% for Widerøe

Operational performance also improved during the quarter, with punctuality reaching 86.4% for Norwegian and 94.2% for Widerøe. Regularity stood at 99.6% and 98.3%, respectively.

Strategic Developments

In June, Norwegian announced an agreement to acquire Nordic Leisure Travel Group (NLTG) for SEK 7.94 billion. The transaction received shareholder approval on 8 July 2026 and is awaiting regulatory clearance before completion later this year.

The group’s loyalty platform, Spenn, also expanded during the quarter through a partnership with REMA 1000, allowing customers to earn loyalty points through everyday grocery purchases.

Outlook

Norwegian reported improving booking momentum heading into the second half of 2026.

The airline expects capacity (ASK) to increase by 5% during the third quarter, while full-year production is forecast to grow by approximately 3%. Widerøe expects capacity growth of around 2% for the full year.

At the end of the quarter, the Norwegian Group operated a fleet of 145 aircraft, comprising 95 aircraft in the Norwegian fleet, including 36 Boeing 737 MAX 8 aircraft, and 50 aircraft operated by Widerøe.

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