Norwegian Air Shuttle New (NWARF) Q1 2025 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Norwegian Air Shuttle Asa.

Watch the replay

Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:03.618 Good morning and welcome to the first quarter 2025 00:00:03.618 -- 00:00:07.926 presentation for the Norwegian Group. My name is Jasper Haldeteit and I am the VP of 00:00:07.926 -- 00:00:10.431 Investor Relations here at Norwegian. 00:00:10.431 -- 00:00:15.721 Today's presentation will be held by our CEO, Gary Carlson, and our CFO, 00:00:15.721 -- 00:00:20.631 Hans-Jürgen Wibstad. It will be followed by a Q&A from the audience and the web. 00:00:20.631 -- 00:00:22.272 Please go ahead, Gary. 00:00:22.272 -- 00:00:25.397 Thank you, Jesper. Good morning to all of you. 00:00:25.397 -- 00:00:30.482 Also good morning to everybody listening in online. 00:00:30.726 -- 00:00:34.152 I know it's quite a few of you. It's a beautiful day. 00:00:34.152 -- 00:00:39.180 It's May. It's nice weather outside. I just saw that we had 91% on time 00:00:39.180 -- 00:00:42.726 yesterday. So things are working. We're 00:00:42.726 -- 00:00:48.631 well into the summer season. But let's talk a little bit about the first quarter. 00:00:48.631 -- 00:00:52.356 The first quarter is, as we all know, the weakest quarter in the year. 00:00:52.356 -- 00:00:57.282 It's the low season. It's always good to get out of the low season, and we are out of 00:00:57.282 -- 00:01:02.769 the low season. But it ended with a negative EBIT of 611 00:01:02.769 -- 00:01:05.893 million Norwegian kroner. 00:01:05.893 -- 00:01:10.740 We spent the time wisely in the quarter and purchased 10 aircraft. 00:01:10.740 -- 00:01:12.482 That is 10 aircraft we are already flying. 00:01:12.482 -- 00:01:15.226 We have actually been flying these aircraft 00:01:15.226 -- 00:01:21.296 since they were new. And we are using our strong financial position 00:01:21.296 -- 00:01:27.425 to do these acquisiti...