The Norwegian Group has reported an operating loss (EBIT) of NOK 603 million for the second quarter of 2026, a weaker result than the same period last year driven by a Supreme Court ruling on EU ETS obligations for 2020, significantly higher fuel prices, and the timing of Easter falling earlier this year. Adjusted for these extraordinary items, the underlying operating result was NOK 213 million with a 2% operating margin.
Despite the headline loss, the group pointed to strong operational discipline. Non-fuel unit costs fell 5% year-on-year, and the group ended the quarter with solid liquidity of NOK 13.7 billion. Both Norwegian and Widerøe improved punctuality and completion rates during the quarter.
Norwegian achieved an on-time performance of 86.4% — ranking as Europe’s most punctual airline in May according to Cirium, and second most punctual in April. Widerøe reached 94.2% punctuality. Completion rates stood at 99.6% for Norwegian and 98.3% for Widerøe.
The group carried 7.8 million passengers in Q2, with 6.7 million on Norwegian and 1.1 million on Widerøe. Norwegian’s capacity (ASK) grew 5% year-on-year, Widerøe’s by 3%. Norwegian’s load factor was 82.5%, down 2.7 percentage points partly due to the Easter timing effect.
“While the financial results were weaker than expected, our cost focus continued to deliver results,” said Geir Karlsen, Group CEO of Norwegian. “We see a positive booking trend going forward and are well positioned for the coming months.”
The quarter was also marked by a major strategic development. Norwegian’s shareholders approved the acquisition of Nordic Leisure Travel Group (NLTG), Scandinavia’s leading tour operator, on July 8, for a consideration of SEK 7.94 billion. The deal awaits EU competition authority approval and is expected to close in the second half of 2026. Separately, Norwegian supermarket chain REMA 1000 joined the group’s Spenn loyalty platform in June, significantly expanding the number of daily transactions on the platform.
Looking ahead, Norwegian projects Q3 ASK growth of 5% year-on-year, with full-year capacity up around 3%. Widerøe expects 2% full-year ASK growth. The group’s fleet stood at 145 aircraft at quarter end, including 95 Norwegian aircraft and 50 Widerøe planes.
