Flyr AS — Earnings Release 2022

Nov 2, 2022

Flyr experienced strong demand in October with a load factor of 81,3 percent and 186,600 guests travelling with the airline

Flyr experienced strong demand in October with a load factor of 81,3 percent and 186,600 guests travelling with the airline

A total of 186,600 guests travelled with Flyr this month. The load factor was

81.3 percent and the punctuality was 85 percent. Demand for flights to European

holiday destinations remained solid and the unit revenue increased.  However,

demand for domestic flights in Norway continued to be lower than expected.

"We are pleased to see that the overall strong demand for flights to our

European destinations continued in October with many full flights and a load

factor of 87 percent. This demonstrates that Flyr is the preferred choice for

many leisure travelers in Norway. As previously reported, the demand for

domestic flights in Norway is still lower than expected, with a load factor of

63.7 percent, and we expect this to continue going forward, said CEO Tonje

Wikstrøm Frislid.

Going into the winter, discretionary consumer spending is expected to decrease

significantly following interest rate spikes, high general cost inflation and

record high energy prices. This is hard-hitting to the airline industry and

Flyr, as it will result in reduced demand for air travel. This, together with

the high jet-fuel prices, Flyr has decided to adjust its winter schedule to

reduce cash burn.

From November to March, Flyr will operate 5-6 aircraft on routes to several

popular European destinations, including Alicante, Malaga, Las Palmas,

Barcelona, Roma, Paris, Nice, Berlin and Brussels. The Company will also offer

flights from Oslo to Bergen and Trondheim, as well as "Christmas Routes" between

several cities in Norway in December.

Flyr had an average of 11 aircraft in operation in October. The yield was NOK

0.63, and the unit revenue (PASK) was NOK 0.54.

Flyr operated 99.2% of its scheduled flights this month and the punctuality was

85 percent.

For further information please contact:

Brede Huser, Chief Financial Officer

Phone: +47 99 16 99 74

Email: brede.huser@flyr.com

About Flyr

Flyr is a Norwegian based low-cost carrier with a demand driven business model

and a primary focus on the Norwegian market. The company targets a modern,

digital, and efficient setup to ensure high operational efficiency through

simplicity, optimized resource utilization and smart use of technology. Flyr AS

is listed at Euronext Growth under the ticker FLYR.

To learn more, please visit www.flyr.com.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements according

to section 5-12 of the Norwegian Securities Trading Act. The information was

prepared by Brede Huser, CFO at Flyr AS, on 2 October 2022 at 10:30 CET.