Norwegian Air will trim its winter capacity by a quarter after it predicted increased fuel prices and the strength of the dollar would have a "partly negative" impact on its financial results for 2022.
As it heads into the winter period, the carrier will cut capacity by 25% from its fleet of 70 aircraft. It plans to increase its fleet to 85 next summer.
The move comes as the airline disclosed a third quarter pre-tax profit of NOK 910 million (£76 million), warning demand for air travel may by hit by recent high inflation and increasing tax rates.
However, it said current booking trends were "encouraging", despite visibility remaining "low" as customers continue to book travel close to date of departure.
"This quarter has demonstrated that we are the reliable Nordic option for customers travelling on their holidays, to visit friends and family, or for business purposes," said Geir Karlsen, chief executive of Norwegian.
"Demand is expected to soften as we enter the winter trading period, but Norwegian is well prepared for this through flexible fleet arrangements, rigorous route planning and sound collaboration with our colleagues and unions."
The airline’s load factor in July was close to 95% while the quarterly unit revenue reached a "historic" high.
Norwegian had more than six million passengers in the third quarter, up from 2.5 million in the same period in 2021 and five million in the previous quarter, and despite record-high congestion and industry challenges across European airports, nearly all scheduled flights were operated.
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