Norwegian Air Narrows Q1 Loss as Demand and Load Factor Hit New Highs

An update from Norwegian Air Shuttle ASA ( (GB:0FGH) ) is now available.

Norwegian Air Shuttle ASA reported a significantly improved first-quarter 2026 performance in its seasonally weakest period, narrowing its operating loss to NOK 220 million and lifting liquidity to NOK 14.2 billion. The group carried 5.2 million passengers and achieved a record Q1 load factor of 87.6 percent for Norwegian, highlighting strong demand and effective capacity management despite a challenging macroeconomic backdrop.

Management attributed the better results partly to cost control, a stronger Norwegian krone, and gains from jet fuel hedging and lower EU ETS allowance prices, while noting continued economic and geopolitical uncertainty. Operationally, the group enters the summer season with positive booking momentum, advances its sustainability profile with Denmark’s first domestic route using 40 percent sustainable aviation fuel, and is managing risks from Middle East route cancellations and an ongoing appeal over EU ETS obligations for 2020.

The most recent analyst rating on (GB:0FGH) stock is a Buy with a NOK17.00 price target. To see the full list of analyst forecasts on Norwegian Air Shuttle ASA stock, see the GB:0FGH Stock Forecast page.

More about Norwegian Air Shuttle ASA

Norwegian Air Shuttle ASA is a Scandinavian low-cost airline group operating under the Norwegian brand and the regional carrier Widerøe. The group focuses on short- and medium-haul passenger services across the Nordics and key European markets, supported by a large loyalty programme, Norwegian Reward, which now counts more than 8.5 million members.

Average Trading Volume: 10,016,775

Current Market Cap: NOK14.22B

For a thorough assessment of 0FGH stock, go to TipRanks’ Stock Analysis page.