Norwegian expects to save more than 200 million in 2019 with its adjustment plan

Norwegian Air Shuttle is confident of achieving cost savings of at least NOK 2 billion (201.2 million euros) in 2019 through its adjustment program, called # Focus2019, the company said.

The airline, which six weeks after the launch of this cost saving plan has already identified “significant savings”, will report on the evolution of the program along with the results of the first quarter of 2019.

On the other hand, the ‘low cost’ Scandinavian has announced that, in order to “remain competitive in a period with a lower seasonal demand in Europe”, has made several changes in its portfolio of routes, in addition to adjust its capacity.

“Combined, these measures should improve financial performance from the very beginning of 2019,” he added.

Likewise, Norwegian has reached an agreement with Rolls-Royce, after problems with the engines of the British manufacturer in the model aircraft ‘Dreamliner’, which will have a positive impact on the company’s results in the first quarter of 2019 .

On the other hand, the airline has confirmed that the financing of all deliveries of aircraft for the first half of 2019 is insured, including the refinancing of one of the ‘Dreamliners’ that have already been delivered, resulting in a liquidity effect positive for the company of 275 million Norwegian crowns in December 2018 (27.67 million euros).

On the other hand, Norwegian has indicated that the process of disinvestment of aircraft continues, highlighting the “great interest” both for the existing fleet and for future deliveries.

The company recently signed a letter of intent for the sale of two aircraft that will be delivered in the first quarter of 2019. Discussions about the formation of a joint venture for aircraft ownership also continue with intensity, he said.