Norwegian blames a large part of the setback on a negative currency effect, as the Norwegian krone has fallen against the dollar.
The result was significantly worse than the expected profit of 171.5 million kronor, according to a compilation of forecasts made by Bloomberg.
Operating revenues for the fourth quarter were 8.2 billion Norwegian kronor, of which 1.9 billion came from Widerøe and 6.4 billion from Norwegian.
Norwegian's revenues for the fourth quarter of 2023 were 5.9 billion.
The board proposes a dividend of 0.60 Norwegian kronor per share for 2024, which will total approximately 580 million Norwegian kronor.
For the remainder of the winter season, Norwegian will have a reduced fleet of aircraft in operation, but by spring, capacity will increase again. The company aims to have 88 aircraft in operation at the peak of the summer season this year and expects a production growth of 4 percent for the full year 2025.
