Originally Posted by
2unlimited
REXBANNER - Your observation of Norwegian is very wrong, they just posted large profits in their 2.nd financial quarter, where they was expected to make losses. So not sure where you getting all misinformation from, furthermore if going so bad, why would IAG be looking to buy them?
2unlimited I’ve read the Q2 report and their numbers are still very bad, it is possible to polish a turd with creative accounting. If it wasn’t for currency translation and moves in forward contracts on fuel and currency they would have posted a loss. They’ve also taken money from Rolls Royce, payments which will cease in future. The one thing that is screaming out from those figures in the Q2 report is that they are losing money operationally, however you dress it up. Yield/Revenue per unit (RASK) is below cost levels (CASK) which translates to an operational loss, at a time that is one of the highest travel times of the year, not good news. They’ve sold and leveraged virtually every ounce of liquidity they have and yields are falling faster than costs. It’s not a healthy situation whatsoever.
I’ve flown WW recently and had a face to face conversation with him about the interest in Norwegian but I can’t exactly divulge what was said on here. Anyway, this thread is about BA, if you want to debate me about Norwegian’s finances (although there isn’t much of a debate to be had) just send me a PM or something.
(Having said that it is relevant to anyone considering jumping ship to the flying tampons I suppose.)