Norwegian Boeing 737 800
The Norway-based low-cost carrier Norwegian has announced its Q3 2025 results, with the group, which also includes Widerøe, seeing its quarterly profits climb to almost $249 million.
On October 22, 2025, Norwegian, which is also the parent company of Widerøe, reported another record-breaking quarter for the airline group. Its quarterly revenues were NOK 12.2 billion ($1.2 billion), and with operating expenses at NOK 8.2 billion ($816.8 million), its net profit was NOK 2.5 billion ($248.9 million).
As such, the group’s operating and profit margins were a very impressive 25.1% and 20.8%, with Geir Karlsen, the Chief Executive Officer (CEO) of Norwegian, humbly saying that the company’s quarter was “strong.” Karlsen thanked Norwegian and Widerøe’s employees for “their outstanding efforts during the busiest months of the year.”
One of the most significant developments for the airline during the quarter was the confirmation of 30 Boeing 737 MAX 8 orders on September 26. Karlsen stated that the order reinforced the carrier’s “commitment to operating one of Europe’s most modern and fuel-efficient fleets,” and was an important milestone as it progresses with its fleet renewal program.
When Boeing and Norwegian announced the firm-up of the 30 737 MAX 8s, the planemaker did not detail when the first of the 737 MAX 8s would begin arriving. Now, the airline’s quarterly report disclosed that the two “agreed to adjust certain delivery dates, with the final aircraft delivery postponed to 2031.”
By the summer 2028 season, Norwegian plans to have 65 737 MAX 8s, its investor presentation showed.
The report also indicated that pre-payments for ordered aircraft, NOK 3.5 billion ($348.7 million), increased by NOK 468 million ($46.6 million) quarter-on-quarter (QoQ) primarily due to the pre-payments “made in relation to Norwegian exercising its option to purchase 30 additional 737 MAX 8 aircraft this quarter.”
Norwegian welcomed five leased 737 MAX 8s in Q3 2025, growing its fleet to 95 aircraft by the end of the quarter, 33 of which were the 737 MAX 8s. Widerøe’s fleet numbered 51 aircraft, including three Embraer E190-E2s.
During the quarter, the airline group’s passenger count was 8.4 million, split between Norwegian’s 7.2 million and Widerøe’s 1.1 million, with an average load factor of 87.8%. Total yields improved from NOK 1.07 ($0.11) to NOK 1.11 ($0.11) compared to Q3 2024.
As we advance, Norwegian outlined its plans for the upcoming winter season, stating that it has reduced monthly capacity by between 25% and 40% compared to October 2025. This reduction is expected to better align with demand during the colder months, when fewer Europeans travel abroad.
Q4 2025 capacity, measured in Available Seat Kilometers (ASKs), should be down 3% year-on-year (YoY), while the full-year capacity should grow by 3%.
Still, Karlsen believed that the airline has an attractive route network this winter season that is tailored to its customers’ needs. Booking trends have been “encouraging,” and its passengers are purchasing flights further in advance with higher yields. The reduced capacity and higher booking levels should result in “a busy winter season with high load factors,” Karlsen concluded.
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