The Norwegian Group has reported the strongest quarterly results in the Group’s history. In the third quarter of 2025 (3Q25), the Group recorded a profit before tax of NOK 2,891 million ($288.2 million) and an operating profit of NOK 3,071 million ($306 million).
According to an airline statement, the quarter was characterized by several important milestones for the airline group, including the first-ever dividend, paid in August 2025, and the exercise of a purchase option to acquire 30 additional new Boeing aircraft.
During the third quarter, the Norwegian Group (which includes Norwegian Air Shuttle and regional carrier Widerøe) recorded an operating margin of 25.1%. The liquidity position decreased to NOK 10.5 billion ($1.05 billion) at the end of the quarter.
“We are very pleased to once again report a record quarter,” said Geir Karlsen, CEO of Norwegian. “In August 2025, we paid our first-ever dividend of NOK 0.90 ($0.09) per share to approximately 75,000 shareholders. It has been a strong quarter overall, and I would like to thank all my colleagues in both Widerøe and Norwegian for their outstanding efforts during the busiest months of the year.”
“Widerøe’s record-breaking passenger numbers also deserve recognition, which in September reached an all-time high in the company’s more than 90-year-long history,” added Karlsen.
In the third quarter, the Norwegian Group had 8.41 million passengers, of which 7.28 million were passengers carried by Norwegian and 1.12 million by Widerøe. The quarterly load factor for Norwegian was 88.3 percent, up 0.3 percentage points from last year, while Widerøe had a load factor of 77.5 percent, down 0.6 percentage points.
Capacity increased by 2% and 3% for Norwegian and Widerøe, respectively. The quarter also held solid operational performance from both airlines. Widerøe performed best in the Group with 98.2% percent of scheduled flights taking place and a punctuality of 91.8%. Norwegian, meanwhile, had a punctuality of 77.8%, up 3.6 percentage points from 3Q24, and 99.3% of scheduled flights took place.
Fleet renewal and Denmark on the rise
During the quarter, Norwegian expanded the existing Boeing order by exercising an option to purchase 30 additional Boeing 737 MAX 8 aircraft, increasing the Group’s total firm orderbook to 80 aircraft.
“By exercising the Boeing purchase option, we maintain flexibility while reinforcing our commitment to operating one of Europe’s most modern and fuel-efficient fleets. This is an important step in our ongoing fleet renewal programme, and we are very pleased to further strengthen our long-term partnership with Boeing,” said Karlsen.
October 2025 was a particularly important month in Denmark, said the airline, marked by several positive developments. The month began with the announcement of ten new international routes from Billund Airport. On the same day, Norwegian was named “Best European Airline” at the Danish Travel Awards.
A few days later, Norwegian won the Danish government’s tender for a domestic route aimed at reducing climate impact. Under this agreement, 93% of Norwegian’s flights between Aalborg and Copenhagen will operate using at least 40% sustainable aviation fuel (SAF) from March 2026. The airline added that the project is expected to save approximately 6,700 tonnes of carbon dioxide on a life-cycle basis.
Looking ahead to winter 2025/26
During the upcoming winter months, Norwegian said it will be reducing its monthly capacity by between 25% to 40%, compared to the October 2025 capacity. This action, said the airline, is to “better align supply with demand during winter and optimise performance in the low season.”
“We have an attractive route network in the winter season, well-tailored to our customers’ needs,” commented Karlsen. “Booking trends are looking encouraging, and our customers are booking their flights further in advance in 2025 compared to previous years. We have therefore sold more tickets this year, compared to the same time in 2024, with reduced capacity. This bodes well for a busy 2025/26 winter season with high load factors.”
