Flyr AS — Earnings Release 2022

May 25, 2022

Flyr Q1 2022 results

Flyr Q1 2022 results

First quarter 2022 was characterized by the final wave of the Covid-19 pandemic

and the war in Ukraine, impacting demand for air travel. However, despite

challenging market conditions, Flyr continued developing the company as an

efficient and flexible low-cost carrier (LCC) with strong outlook going into the

summer season.

Highlights

· Three new aircraft received, whereof the first two of six brand new Boeing

737-8 to be delivered in 2022

· Strong early bookings for summer 2022

· Introducing a loyalty program establishing long-term customer relationship

· Launched summer program with 44 routes to 38 destinations

Entering 2022, Flyr's administrative and organizational functions are all in

place. Adapting to volatile market conditions, the company has swiftly adjusted

production and offering, proving the organizations inherent flexibility. The

fully integrated booking-system is delivering on promises, and the company's

brand name recognition is improving, with the Flyr+ loyalty program launched in

March 2022 already passing 130 000 members.

Commenting on the first quarter, CEO Tonje Wikstrøm Frislid says: "Flyr is

progressing according to plan. Our offering has been well received in the

market, and we are very happy with the positive development after a long period

heavily impacted by the pandemic. We are now prepared for the summer season,

offering 44 routes to 38 destinations, and early bookings indicate a significant

upturn in activity going forward."

The company's strategy of demand driven growth remains, targeting domestic

routes and selected European leisure destinations. Since commencement of first

flights on June 30th, 2021, Flyr has expanded its fleet with eight aircraft,

utilizing favorable terms securing capacity to fulfill the company's long-term

ambitions.

Presentation:

CEO Tonje Wikstrøm Frislid and CFO Brede Huser will present the Company's

results today, at 8:30 a.m. CET at Auditoriet, Haakon VIIs gate 2, Oslo and

invites investors, analysts, media and other stakeholders to join the event.

The presentation will also be available via webcast. Questions may be asked in

person or in writing during the webcast.

The presentation and the subsequent Q&A will be in Norwegian. An English

transcript of the presentation will be made available at www.flyr.com after the

presentation.

Link to webcast:

Please use the following link to access the webcast:

https://channel.royalcast.com/landingpage/hegnarmedia/20220525_13/

The complete first quarter 2022 report and presentation is attached hereto and

is also available at www.flyr.com.

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 low-cost carrier (LCC) with a demand driven and sustainable business

model, with focus on serving the Norwegian market with domestic and

international flights from its base at Oslo Airport. Flyr AS is listed at

Euronext Growth under the ticker FLYR. To learn more, please visit www.flyr.com.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.