Norwegian in 2019

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sn-remember
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Re: Norwegian in 2019

Post by sn-remember » 29 Apr 2019, 14:06

For Q1 : 115 million dollar net loss. Profit margin -18%. Debt to assets 70%.
It's better than Q4 2018. Roughly twice better.
And let me remind you that Q2 as well as Q3 were slightly profitable.
--
Compare with a successful legacy like SAS:
Q1: 50 million dollar net loss. Profit margin -5%. Debt to assets 35%.
They were profitable (slightly) during the previous 3 Quarters.
Of course the data point to a more healthy financial state. But this is a well established business.
--
Not to say it's blue sky at Norwegian. This is a 6 yrs startup facing recurrent issues with their fleet and going through the predictable teething problems. The market today is rather optimist they gained 1.87% and still up.
Yes I believe they're on the recovery track, maybe time to invest ? Its risky but who knows ?

Poiu
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Re: Norwegian in 2019

Post by Poiu » 29 Apr 2019, 14:48

sn-remember wrote:
29 Apr 2019, 14:06
For Q1 : 115 million dollar net loss. Profit margin -18%. Debt to assets 70%.
It's better than Q4 2018. Roughly twice better.
And let me remind you that Q2 as well as Q3 were slightly profitable.
--
Compare with a successful legacy like SAS:
Q1: 50 million dollar net loss. Profit margin -5%. Debt to assets 35%.
They were profitable (slightly) during the previous 3 Quarters.
Of course the data point to a more healthy financial state. But this is a well established business.
--
Not to say it's blue sky at Norwegian. This is a 6 yrs startup facing recurrent issues with their fleet and going through the predictable teething problems. The market today is rather optimist they gained 1.87% and still up.
Yes I believe they're on the recovery track, maybe time to invest ? Its risky but who knows ?
Market optimistic?
Shares went 7% down last friday and are at an all time low today.
https://www.hl.co.uk/shares/shares-sear ... sa-nok0.10
They have a bond expiring at the end of this year yielding 20%! In times with interest rates close to zero, Norwegian has to pay 20% in order to find investors.

sn-remember
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Re: Norwegian in 2019

Post by sn-remember » 29 Apr 2019, 15:07

Bloomberg says -0.96% on 1 day performance. But it was raising this morning (same source) as I quoted.
https://www.bloomberg.com/quote/NAS:NO
Let's see how they perform this year and sort the mess out.

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Re: Norwegian in 2019

Post by sn-remember » 29 Apr 2019, 15:20

TLspotting wrote:
20 Apr 2019, 14:03
Norwegian Argentina wants to open Buenos Aires - Perth using Boeing 787 DREAMLINER (probably - 9).

Requests for the authorities in progress, route should be opened in September 2019.

Norwegian considers to extend route from Perth to Singapore as well.
I will believe it when I see it.

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Re: Norwegian in 2019

Post by gumblebee » 29 Apr 2019, 15:43

TLspotting wrote:
20 Apr 2019, 14:03
Norwegian Argentina wants to open Buenos Aires - Perth using Boeing 787 DREAMLINER (probably - 9).

Requests for the authorities in progress, route should be opened in September 2019.

Norwegian considers to extend route from Perth to Singapore as well.
Impossble. This route would last 15hours, passes over Antartica and part of it is more than 6 hours away from the nearest suitable airport. How will they deal with ETOPS requirements?

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Re: Norwegian in 2019

Post by sn-remember » 29 Apr 2019, 23:36

Norwegian is leasing four aircraft from different operators for the Gatwick Airport summer season. According to Routes Online, this will consist of two Airbus A330s, an Airbus A340, and a Boeing 777:

Firstly, an Airbus A330-200 will be leased from Wamos Air;
Secondly, an Airbus A330-300 will be leased from Evelop Airlines;
Thirdly, an Airbus A340-300 will be leased from HiFly;
Finally, A Boeing 777-200 will be leased from Privilege Style.

Each of the aircraft will begin joining Norwegian’s operations this week. The first will commence today (29th May 2019), with the last joining the Gatwick fleet on Friday, May 3rd.
https://simpleflying.com/norwegian-multiple-leases/

Poiu
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Re: Norwegian in 2019

Post by Poiu » 30 Apr 2019, 09:12

On top of financial woes Norwegian is hit by the technical problems with the 737MAX and the Trent1000.
No doubt Boeing and Rolls-Royce will have to pay a hefty compensation, but will Norwegian be able to survive in the mean time?

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Re: Norwegian in 2019

Post by TLspotting » 30 Apr 2019, 19:40

Norwegian has signed an agreement with unions for cabin crew and pilots regarding the closure of its base in Palma de Mallorca, after several months of negotiations.

The airline is in talks with three parties regarding an investor in its fleet joint-venture. As the deal with Airbus for the aircraft is now set, and as no PDPs are due until 2Q 2021, the airline has bought itself some time to negotiate or strategize, and may sell some B737-800s in the short-term as it takes advantage of the B737 MAX grounding.

While the Argentinian subsidiary was forced to suspend operations on 30 April 2019 due to the country’s general strike affecting airports.
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

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Re: Norwegian in 2019

Post by TLspotting » 30 Apr 2019, 21:30

Norwegian to decide in August 2019 if it will stay or pull out of Argentina, as it evaluates the business model and likelihood of profitability.
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

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Re: Norwegian in 2019

Post by sn26567 » 30 Apr 2019, 23:43

TLspotting wrote:
30 Apr 2019, 19:40
Norwegian has signed an agreement with unions for cabin crew and pilots regarding the closure of its base in Palma de Mallorca, after several months of negotiations.

The airline is in talks with three parties regarding an investor in its fleet joint-venture. As the deal with Airbus for the aircraft is now set, and as no PDPs are due until 2Q 2021, the airline has bought itself some time to negotiate or strategize, and may sell some B737-800s in the short-term as it takes advantage of the B737 MAX grounding.

While the Argentinian subsidiary was forced to suspend operations on 30 April 2019 due to the country’s general strike affecting airports.
This was reported earlier, even with the meaning of PDPs: viewtopic.php?f=7&t=65375#p381491 ;)
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Re: Norwegian in 2019

Post by sn26567 » 16 May 2019, 20:43

Norwegian to lease a B767 from euroAtlantic Airways until 31 August 2019, covering various services to/from Oslo.
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Re: Norwegian in 2019

Post by sn26567 » 31 May 2019, 23:16

Norwegian will try to prevent the closure of the two bases it has established at Tenerife and Gran Canaria, due to a new and ever-changing competitive environment.
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Re: Norwegian in 2019

Post by TLspotting » 14 Jun 2019, 21:16

Norwegian CEO Bjorn Kjos plans to retire in the short-term and is engaged with the board to find a successor.
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Re: Norwegian in 2019

Post by sn26567 » 20 Jun 2019, 21:16

Norwegian to add services to Tenerife South from Gothenburg and Reykjavik and to Gran Canaria/Las Palmas from Billund and Reykjavik on 30 October 2019 with B737-800s.
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Re: Norwegian in 2019

Post by sn26567 » 28 Jun 2019, 23:19

Norwegian to launch services from Copenhagen to Munich and Fuerteventura in late October 2019 with B737-800 and B737 MAX 8 (if not grounded).
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Re: Norwegian in 2019

Post by sn26567 » 09 Jul 2019, 15:38

Norwegian will move the two nonstop services to Barcelona-El Prat and Paris CDG from Oakland to San Francisco starting in winter 2019/20 season.
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Re: Norwegian in 2019

Post by sn26567 » 11 Jul 2019, 19:21

Norwegian Argentina applies to operate flights between Argentina and the US, following the recent signing of the bilateral agreement that allows unlimited opening of routes and frequencies between the two countries.
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Re: Norwegian in 2019

Post by TLspotting » 12 Jul 2019, 08:33

CFO Geir Karlsen appointed interim CEO of Norwegian as Bjørn Kjos steps down :

https://www.aviation24.be/airlines/norw ... teps-down/

Norwegian’s financial turnaround moves in the right direction: Increased revenue and reduced cost :

https://www.aviation24.be/airlines/norw ... uced-cost/
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

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Re: Norwegian in 2019

Post by Poiu » 12 Jul 2019, 10:37

TLspotting wrote:
12 Jul 2019, 08:33
Norwegian’s financial turnaround moves in the right direction: Increased revenue and reduced cost :

https://www.aviation24.be/airlines/norw ... uced-cost/
The actual report paints a completely different picture though:
-Q2 profits down 72% compared to last year.
-Debt more than doubled, Norwegian is burning cash at an increasing rate.
-H1 Negative profit margin (-7% compared to + 1,5% last year). Q2 profit margin decimated from 2,9 to 0,7%.
-equity per share almost halved during the first six months of 2019.
https://resources.mynewsdesk.com/image/ ... o4tkdq.pdf

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Re: Norwegian in 2019

Post by sn26567 » 20 Aug 2019, 11:11

Norwegian Argentina has been given the green light from its parent to continue operating despite political and economic uncertainty in the country and slowed growth due to the B737 MAX groundings. In autumn 2019, flights to the US are planned.

In order to help improve its financial balance, Norwegian will sell its entire 17.5% stake in banking company Norwegian Finans Holding to Cidron Xingu (China) for US$246.3 million.
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