By Dominic Chopping
Norwegian Air Shuttle ASA said Thursday that it swung to a third-quarter net profit as passenger demand began to return across all of its markets and forward bookings remain strong leading into its summer 2022 season.
The low-cost carrier reported a net profit of 168.7 million Norwegian kroner ($20 million) compared with a loss of NOK979.6 million a year earlier.
Revenue rose 50% to NOK1.93 billion in the quarter as it carried 2.46 million passengers compared with 99,000 a year earlier.
Booking curves continue to show a positive trend well into 2022, it said.
As travel restrictions across its European markets have continued to ease throughout the third quarter, demand has steadily increased and the airline said it has seen a return to more traditional booking patterns as passengers regain confidence to plan their travels with longer lead times into summer 2022.
"We are now in a strong financial position going into the traditionally more challenging winter months," said Chief Executive Geir Karlsen.
"We have seen a positive trend in forward bookings month on month and an increasing number of passengers are choosing to fly Norwegian across our European network," Mr. Karlsen said.
Write to Dominic Chopping at dominic.chopping@wsj.com