{"id":145606,"date":"2023-08-24T09:09:47","date_gmt":"2023-08-24T07:09:47","guid":{"rendered":"https:\/\/investmentbell.com\/?p=145606"},"modified":"2023-08-24T09:09:50","modified_gmt":"2023-08-24T07:09:50","slug":"norwegian-air-eyes-dividend-payments-as-q2-core-profit-rises","status":"publish","type":"post","link":"https:\/\/investmentbell.com\/ko\/news\/stocks\/norwegian-air-eyes-dividend-payments-as-q2-core-profit-rises\/","title":{"rendered":"Norwegian Air eyes dividend payments as Q2 core profit rises"},"content":{"rendered":"<p>OSLO (Reuters) &#8211; Norwegian Air (OL:NAS) said on Thursday it had begun a process that could lead to cash dividend payments for shareholders as the carrier&#8217;s second-quarter core operating profit rose amid strong demand for air travel in Europe.<\/p>\n\n\n\n<p>Norwegian reported a profit before interest, tax, depreciation, amortisation and rent (EBITDAR) of 1.57 billion crowns for the April to June quarter, up from 93 million in the year-ago period.<\/p>\n\n\n\n<p>&#8220;The summer season of 2023 will be one of the best in our history, and I am happy that forward bookings remain strong with business travel returning and others planning their autumn holidays,&#8221; CEO Geir Karlsen said in a statement.<\/p>\n\n\n\n<p>The airline saw a &#8220;historically strong&#8221; July, during its peak season, with total passenger traffic up 9% from last year, and unstable weather in the Nordics helped keep the booking momentum up in August, it said earlier this month.<\/p>\n\n\n\n<p>Norwegian, which underwent a financial restructuring during the COVID pandemic, said on Thursday it plans to pay back some of its debt as the board looks to &#8220;enable &#8230; a potential dividend distribution&#8221;.<\/p>\n\n\n\n<p>As part of this process, Norwegian said it would exercise an option to repay its NAS13 bond amounting to 750 million crowns.<\/p>\n\n\n\n<p>The company did not say when dividend payments could potentially start.<\/p>\n\n\n\n<p>Norwegian Air last month said it had agreed to buy privately held domestic peer Wideroe for 1.13 billion crowns, a deal that is currently under review by the Norwegian Competition Authority.<\/p>\n\n\n\n<p>The company&#8217;s April-June net profit fell to 538 million Norwegian crowns ($50.9 million) from a year-ago profit of 1.25 billion crowns which had been boosted by one-off factors.<\/p>\n\n\n\n<p>($1 = 10.5683 Norwegian crowns)<\/p>\n<div class=\"rate-now\"><span id=\"rate-mypost145606\"><\/span> <span id=\"rate-points\"> 0<\/span><\/div>\n\t\t\t<script type=\"text\/javascript\">jQuery('#rate-mypost145606').raty({\n\t\t\t\thalfShow : true,\n\t\t\t\thalf: true,readOnly: true,score: 0,\n\t\t\t\tpath: \"https:\/\/investmentbell.com\/wp-content\/plugins\/userpro-rating\/images\/\"\n\t\t\t\t});<\/script>","protected":false},"excerpt":{"rendered":"<p>OSLO (Reuters) &#8211; Norwegian Air (OL:NAS) said on Thursday it had begun a process that could lead to cash dividend payments for shareholders as the carrier&#8217;s second-quarter core operating profit rose amid strong demand for air travel in Europe. Norwegian reported a profit before interest, tax, depreciation, amortisation and rent (EBITDAR) of 1.57 billion crowns [&hellip;]<\/p>","protected":false},"author":13,"featured_media":145607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-145606","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stocks"},"_links":{"self":[{"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/posts\/145606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/comments?post=145606"}],"version-history":[{"count":1,"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/posts\/145606\/revisions"}],"predecessor-version":[{"id":145608,"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/posts\/145606\/revisions\/145608"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/media\/145607"}],"wp:attachment":[{"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/media?parent=145606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/categories?post=145606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investmentbell.com\/ko\/wp-json\/wp\/v2\/tags?post=145606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}