Satisfying first quarter financial results for Widerøe
Widerøe's first quarter financial result was 55. 2 mill NOK. This is a 39.9 mill NOK increase year on year.
This is a satisfactory result and is due to a strong and consistent commitment from the entire organization, says CEO Lars Kobberstad.
-Since 2008 we have focused on reducing costs and adapting our production to increased competition and a tighter market. We have been able to keep costs down in a growing market. This is most promising under current market conditions, states Kobberstad.
Widerøe's ability to be long-term profitable is one of the CEO's main objective. - Market conditions change repeatedly in our line of business. Our ability to benefit from good times enables us to meet challenges in future less profitable market conditions, continues Kobberstad
New 39-seater aircraft
The company has recently bought 3 relatively new Dash8-200 and is selling off two of its older Dash8-100. The new aircrafts are due for delivery this spring and will be operative this autumn. - The new obtainment means a significant renewal of our fleet and a strengthening of our reserve flight capacity in the north, states Kobberstad.
Continuous focus on cost reductions
Despite a reported profit of nearly 40 million NOK, Widerøe continues its cost saving program initiated two years ago. So far the company has managed to implement measures valued 210 million NOK in annual effect. - We are approaching the target from 2008 of 230 million NOK in annual savings and a 7 per cent margin on our turnover. Our main challenge is to be able to keep that margin also in the future, says Kobberstad. He continues; In addition we have to ensure that our customers are happy with our service and that we continue to deliver excellent service quality while saving costs.
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