Profitable growth for Widerøe

Widerøe has just experienced the best six months in the history of the company, posting a half-yearly pre-tax profit of NOK 187.2 million. This is NOK 125.4 million up on the company’s profits for the first six months of last year. These excellent figures are the result of profitable growth, with more departures and even more passengers.

Widerøe’s Managing Director Lars Kobberstad is very satisfied with these results.
“We are able to ascertain that our cost controls and savings are on track and have worked. At the same time the Norwegian travel market is currently doing well and this means that right now we are making a profit of eleven kroner for each hundred we earn. These are good margins for the aviation trade,” says Mr. Kobberstad.

Route and passenger growth
The number of hours flown by Widerøe during the last half year has increased by 19 per cent and the company has simultaneously enjoyed a 27 per cent increase in passengers. “We are able to report profitable growth, many new departures and even more passengers during the first six months of the year,” says Mr. Kobberstad, who gives the company’s employees the honour for this growth. He says: “Widerøe’s employees have displayed a remarkable ability to undertake reorganisation and cost control, and they deserve all respect for this.”

Europe’s most punctual airline this summer
Despite the fact that Widerøe was Europe’s most punctual aviation company this summer and customer satisfaction was polled as being high, Mr. Kobberstad is not satisfied with punctuality during the first half year. “We need to make further improvements in our operational standards. During the first half of the year we experienced more delays than last year, and this is a development that we intend to turn around,” he says. “We know that it is possible to provide our customers with good operational standards while simultaneously earning money. We aim to ensure that we maintain our standards at top European levels.”

Satisfied with this record, but also reserved
Despite record high profits that were NOK 125 million up on those posted for last year, Mr. Kobberstad is keen to continue making adjustments to accommodate a market that is exposed to competition and a demanding future. “We still have a number of reorganisation measures left to implement at Widerøe, although we have already come a long way. All aspects of Widerøe’s operations are running at a profit, but we know that we are facing times that will be more challenging for the aviation industry, and we need to be equipped in order to tackle them,” he ascertains.