View Single Post
Old 10-23-2018, 10:52 PM
  #5  
Andy
Gets Weekends Off
 
Joined APC: Mar 2006
Position: guppy CA
Posts: 5,133
Default

Originally Posted by NEDude View Post
The analysts got their Q2 estimates very wrong.
Here's Q2's report: https://www.norwegian.com/globalasse...018-report.pdf

Profit after one time gains was NOK 300M ($36M).
Note that on page 4 and 5, there's a one time gain of NOK 454.8M on the Other losses/(gains) - net line. On page 5, the note is:
Other losses/(gains)-net include gains and losses from foreign currency contracts, forward fuel contracts, adjustment of market value for total return swaps, translation of working capital in foreign currency and net gain or loss from sale of fixed assets. Net gain in the second quarter was NOK 455 million (loss of NOK 197 million last year), including a gain of NOK 180 million from translation of working capital in foreign currency and a gain of NOK 254 million from forward contracts on currency and fuel.

Absent the currency/fuel contract gains, Norwegian would have had a loss of NOK 155M in Q2.


On the 25th, the Q3 report will be out. It's likely to show near zero profit based on their monthly traffic reports. Q3 is traditionally Norwegian's most profitable quarter.



As far as Norwegian becoming part of Level, that's off the table. IAG is no longer interested in Norwegian. Planes, maybe although the 787 is problematic due to having RR Trent engines.
Andy is offline