Norwegian Air Shuttle ASA Q3 2026 Earnings Recap

Norwegian reported a third-quarter EBT of NOK 2.5 billion, broadly in line with the underlying result a year earlier, while the stock rose 2.7%—a roughly flat reaction. Passenger growth and operational performance were positives, but Norwegian yield was down 1% year over year and Widerøe saw softer load factors and passenger numbers.

Key Takeaways

• The group carried 8.8 million passengers, up 4%; Norwegian passenger numbers rose 5% and Widerøe’s rose 2%.
• Norwegian load factor was 88.5%, up 0.2 percentage points, while yield fell 1%; management said a stronger Norwegian krone contributed a 3% negative yield effect.
• Widerøe reported NOK 242 million in EBIT, but passenger numbers and load factor were marginally down, and the company was disappointed with its corporate market after the summer.
• Punctuality was 80.7% at Norwegian and 93.5% at Widerøe. The group maintained its full-year guidance for flat CASK versus 2025.
• Quarter-end liquidity was NOK 11.2 billion, up NOK 700 million, and the equity ratio was 20.6%.