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Exciting, says CEO Jacob Schram.
HSBC analyst Andre Lobbenberg calls the competition in Norwegian aviation crazy. After SAS management released the quarterly report on Thursday, the well-known analyst took the floor and asked about more airlines now establishing themselves in Norway, writes Finansavisen.
Lobbenberg believes that it seems surreal, and that the facts are that the market before the pandemic was served by two more Widerøe airlines, while after the pandemic there will be four more companies, the aforementioned Widerøe.
– It’s crazy.
Not sustainable
In addition, the analyst says that the level of competition does not seem sustainable and that both the government’s money and that of the investors will be lost.
– We appreciate that we have a liberal market, and we applaud the competition, but this seems ridiculous, says according to Finansavisen.
Also read: Absolutely crazy Norwegian deficit: equity is lost
However, Norwegian’s CEO seems to be taking it all in stride, telling Finansavisen that competition is always exciting.
Steep decline
The corona pandemic has strongly affected air traffic. According to Statistics Norway (SSB), 22.3 million passengers were checked on board when leaving and arriving at Norwegian airports in 2020. This is a 61% decrease from the 57.9 million passengers who visited Norwegian airports in 2019 .
– The number of passengers at Norwegian airports declined rapidly after the first round of travel restrictions and quarantine provisions were introduced in mid-March last year, explains Senior Advisor Christina Lyle from Statistics Norway.
Read more: Norwegian customers suddenly had zero ATMs – now airline explains why
While the level of activity increased somewhat in the third and fourth quarters of last year, the number of domestic passengers also fell by almost half during 2020.
The number of foreign passengers by plane fell by 78 percent last year compared to the previous year.
In January, Norwegian carried 96% fewer passengers than in the same month last year.
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