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Norwegian profits fall on Dreamliner problems

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Norwegian profits fall on Dreamliner problems
Norwegian's new Dreamliner arriving from New York at Stockholm Arlanda airport - Johan Nilsson / NTB Scanpix
10:26 CEST+02:00
Norwegian Air Shuttle had to spend over 100 million kroner ($17m) after its two new Boeing Dreamliner aircraft were grounded due to technical faults, the company reported as it released results on Friday.
"Our results this quarter are significantly affected by the additional costs associated with replacement aircraft for the Dreamliner," the company's chief executive Bjørn Kjos said in a statement.   
 
According to the company, the sum included the cost of leasing replacement aircraft, extra fuel and costs for the accommodation, food and drink for delayed passengers. 
 
The company's net profit of 436 million kroner ($73m) for the three months to September was down nearly a third compared to the same period the previous year. 
 
The company estimated that it had lost a further 150 million kroner as a result of an unusually warm summer in its key northern European markets. 
 
"Northern European sun seekers chose to enjoy the warm summer at home instead of flying south,” Kjos said. 
 
Norwegian is planning to build up a fleet of eight Dreamliners, hoping to capitalize on fuel costs up to twenty percent lower than its existing fleet.
 
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