Flyr AS — Earnings Release 2022

Mar 3, 2022

Flyr AS - Traffic figures for February 2022

Flyr AS - Traffic figures for February 2022

Improvements in marked after reopening of society

In February, a total of 50,017 guests travelled with Flyr to 15 destinations.

Flyr's production in the first part of the month was adapted to the reduced

demand as a consequence of the Omicron wave, with a gradual increase after

removal of the government-imposed restrictions later in the month.

With on average 4 aircraft in operation in February the total capacity in the

month was 74.1 mill ASK. The load factor was 64%, an increase from 54% in

January. Yield in February was NOK 0.55, an increase from NOK 0,42 in January.

· In the first part of February, we saw continued reduced level of production

due to the Omicron spread, says Tonje Wikstrøm Frislid, CEO of Flyr. The market

improved gradually during the month in line with the reopening of society, and

we are overall satisfied with the positive development of the load factor and

yield.

Unit revenue (PASK) in February was NOK 0.36, while the average PASK from first

flight in June 2021 was NOK 0.25.

Flyr had a regularity in operations of 99.1 % and punctuality of 78.8 %.

In February, Flyr received its first of six, brand new Boeing 737-8. The

efficiency level is progressing according to plan with 41 FTE per aircraft at

the end of February. The summer program has been released for sale and Flyr will

operate 44 routes to 38 destinations.

Flyr was established during the Covid-19 pandemic with the aim to build a

sustainable and profitable business model by adapting and scaling production to

meet the needs of the market. Expansion plans and the route network will be

adjusted continuously depending on the pandemic situation.

The airline is currently operating seven aircraft on domestic routes in Norway

and to European destinations. The company plans to have 12 to 18 aircraft in

operation by the end of 2022.

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 subject of the disclosure requirements according to Market

Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Brede Huser, CFO at

Flyr AS ph no. +47 991 69 974.