Flyr AS — M&A Activity 2022

Nov 8, 2022

Flyr have signed an LOI to wet lease one aircraft to an undisclosed European airline

Flyr have signed an LOI to wet lease one aircraft to an undisclosed European airline

Flyr and an undisclosed European airline have signed an LOI for the wet lease of

one aircraft, with discussions ongoing for a further aircraft. The agreement

will generate positive cash flow for Flyr and is for a period of 9 months,

starting in February.

"This wet lease agreement provides a compelling opportunity to generate positive

cash flows from aircraft that we were not planning to fully utilize in the

coming winter. The agreement strengthens Flyr's financial position as we

continue to roll out our updated strategy," said Flyr CFO Brede Huser.

Flyr is actively pursuing these opportunities in the market through the winter,

both to generate positive cash flow from aircraft not utilised and to be able to

bring temporarily furloughed crew back as soon as possible.

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.