The following is a summary of the Norwegian Air Shuttle ASA (NWARF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Norwegian Air Shuttle reported an EBIT of NOK2.2 billion for 2023, marking the company's best performance in history.

• In the fourth quarter alone, the company achieved an EBIT of NOK328 million.

• The company managed to maintain a strong liquidity position of NOK9.5 billion after the transaction with Wideroe, underscoring its resilient financial health.

• A dividend provision of NOK0.6 per share has been set aside.

• Though strong financially, the company is experiencing cost pressure from various sides, with costs increasing from 0.44 to 0.48.

Business Progress:

• Norwegian Air plans to continue expanding its capacity with approximately 90 aircraft scheduled to fly in the coming summer.

• The company has seen operational improvements in punctuality and handling efficiency, making it one of the top performers in the European industry.

• Encouraging passenger booking trends seem to indicate that customers are booking slightly earlier than in the past few years.

• The acquisition of Wideroe has been finalized, promising a new phase for the company. Expected synergies from this acquisition are valued at more than 300 million on a yearly basis.

• Norwegian Air is making headway in the corporate market, signing up 2,500 new agreements for small and mid-sized companies, representing a 62% growth from the previous year.

• The company has entered into a promising new contract with the armed forces and is implementing various cost reduction strategies set to enhance profitability.

• Emphasizing growth, Norwegian Air is establishing a new base in Riga, a summer base in Palma de Mallorca, and plans to increase its fleet and optimize the fleet and base structures. In addition, the airline intends to enhance passenger self-service to boost customer satisfaction while reducing costs.

More details: NORWEGIAN AIR SHUTTLE ASA IR

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