Norwegian Airlines Cuts 2024 Profit Forecast Due to Weak Currency
Norwegian Airlines revises its 2024 profit forecast to NOK 1.85 billion, citing exchange rate fluctuations and increased operating costs from a weaker Norwegian krone.

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Norwegian Airlines has revised its profit outlook for 2024, adjusting its forecast from NOK 2.1-2.4 billion to approximately NOK 1.85 billion. This adjustment is attributed to the depreciation of the Norwegian krone (NOK) against the US dollar, with the year-end exchange rate reaching 11.35, a sharp rise from the earlier estimate of 10.70.
The weakened currency has triggered significant balance sheet changes in the fourth quarter, adding around NOK 75 million to operating costs, aircraft leasing, and depreciation expenses. As a result, unit costs excluding fuel are expected to climb by 4% compared to the previous year, aligning with prior projections.
Norwegian Airlines will release its comprehensive fourth-quarter and full-year financial report for 2024 on February 13.