OSLO (Reuters) -Norwegian Air reported a full-year profit for 2021 on Friday in a turnaround from losses suffered the previous year, and said booking trends point to busier travel ahead for Europe as COVID lockdown restrictions are lifted.
The budget carrier’s net result swung to a profit of 1.88 billion Norwegian crowns ($211.4 million) last year from a loss of 23 billion crowns in 2020.
Fourth-quarter revenue rose almost fourfold to 2.55 billion crowns from 670 million the year before even as the Omicron outbreak affected business in late 2021.
“We are looking forward to welcoming more customers on board heading into the busier spring and summer seasons,” Norwegian Air Chief Executive Geir Karlsen said in a statement.
“Booking trends show that customers are planning and booking earlier in anticipation that the positive recent developments in regards to COVID-19 vaccinations and restrictions will continue in the long term,” the company said in its earnings report.
The pandemic sent the indebted airline into bankruptcy proceedings last year from which it emerged in a slimmed-down version in May with no long-distance network and a decimated fleet.
The company will increase this year the number of aircraft in operation to 70 from 51 at the end of 2021. At its pre-pandemic peak, Norwegian had more than 160 planes.
($1 = 8.8931 Norwegian crowns)
(Reporting by Victoria Klesty and Terje Solsvik, editing by Nerijus Adomaitis)
