Norwegian Airlines Posts Record Q3 Profits and Expands Boeing Fleet

The Norwegian Group has just announced its best quarterly performance ever. In the third quarter of 2025 (3Q25), the Group achieved a remarkable pre-tax profit of NOK 2,891 million ($288.2 million), along with an operating profit of NOK 3,071 million ($306 million).

This quarter was significant for the airline group, highlighted by several key events, including the inaugural dividend payment in August 2025 and the execution of an option to acquire 30 new Boeing aircraft.

In the third quarter, the Norwegian Group, which comprises both Norwegian Air Shuttle and regional carrier Widerøe, posted an impressive operating margin of 25.1%. However, the liquidity position dropped to NOK 10.5 billion ($1.05 billion) at quarter’s end.

“We are delighted to report another record quarter,” shared Geir Karlsen, CEO of Norwegian. “In August 2025, we distributed our first-ever dividend of NOK 0.90 ($0.09) per share to around 75,000 shareholders. Overall, it has been a robust quarter, and I want to extend my gratitude to my colleagues at Widerøe and Norwegian for their exceptional efforts during this peak season.”

Karlsen also acknowledged Widerøe’s milestone, stating that passenger numbers reached an all-time high in September, marking a significant achievement in the airline’s 90-year history.

The Norwegian Group carried a total of 8.41 million passengers during the third quarter. Of these, 7.28 million flew with Norwegian, while Widerøe accommodated 1.12 million. Norwegian achieved a load factor of 88.3 percent, a slight increase from the previous year, while Widerøe’s load factor was 77.5 percent, a small decrease.

Capacity rose by 2% for Norwegian and 3% for Widerøe. The quarter also showcased solid operational performance from both airlines. Widerøe led the Group with 98.2% of scheduled flights completed and a punctuality rate of 91.8%. Norwegian, on the other hand, had a punctuality of 77.8%, an improvement of 3.6 percentage points from 3Q24, and achieved 99.3% of its scheduled flights.

Fleet Renewal and Growth in Denmark

In the latest quarter, Norwegian expanded its Boeing fleet by exercising an option to purchase 30 additional Boeing 737 MAX 8 aircraft, bringing its total firm order to 80 aircraft.

“This decision to exercise the Boeing option allows us to maintain flexibility while ensuring we operate one of Europe’s most modern and fuel-efficient fleets. It’s a vital step in our ongoing fleet renewal program, and we’re excited to bolster our long-standing partnership with Boeing,” Karlsen remarked.

October 2025 proved to be a pivotal month for operations in Denmark, with notable developments. The airline announced ten new international routes from Billund Airport and was honored as the “Best European Airline” at the Danish Travel Awards.

Additionally, Norwegian secured a domestic route tender from the Danish government aimed at minimizing climate impact. As part of this agreement, 93% of flights between Aalborg and Copenhagen will utilize at least 40% sustainable aviation fuel (SAF) starting in March 2026, projected to save around 6,700 tonnes of carbon dioxide over its lifecycle.

Looking Ahead to Winter 2025/26

As winter approaches, Norwegian plans to decrease its monthly capacity by 25% to 40% compared to October 2025 levels. This strategic move aims to align supply with demand during the low season and enhance performance.

“We have an appealing route network for the winter season, specifically designed around our customers’ needs,” Karlsen noted. “Encouraging booking trends are emerging, with customers booking their flights further in advance this year compared to prior years. Consequently, we have sold more tickets this year relative to the same period in 2024, despite the reduced capacity, which indicates a promising winter season ahead with high load factors.”