Flyr AS

Regulatory Filings • Jan 9, 2023

Flyr AS and FLYR Labs Enter into Strategic Partnership to Increase the Airline's Revenue and Optimize Cost

Flyr AS and FLYR Labs Enter into Strategic Partnership to Increase the Airline's Revenue and Optimize Cost

Flyr AS and FLYR Labs today announced a commercial agreement to increase and

enable the airline's exceptional revenue performance, added customer value, and

cost optimization. FLYR Labs is a rapidly growing and innovative global company

that integrates AI-based pricing, forecasting, and retailing capabilities and is

backed by major investors.

"As a digitally minded airline, we are excited about the strategic partnership

with FLYR Labs. Their capabilities align perfectly with our own state-of-the-art

IT platform, which has earned investments near 100 MNOK. This strategic

partnership will enable us to extend our platform with the latest cutting-edge

technologies across our business and provide our customers with an improved user

experience through more tailored offerings, while at the same time optimizing

our commercial performance and cost-savings through better decision-making,"

said CEO Brede Huser of Flyr.

As the world's first pure native IATA ONE Order airline, Flyr AS already boasts

unique expertise in this area and has developed brand new proprietary and cost

-efficient IT solutions. The new partnership with FLYR Labs will build on the

airline's in-house developed accounting, settlement, and billing technologies by

pairing them with new capabilities across offer and order management and AI

-powered decision intelligence.

"From a cost perspective, our platform reduces distribution and sales costs by

over 50% compared to our competitors. From a technology perspective, the

platform provides a frictionless digital customer journey with a high conversion

rate, demonstrated by the fact that we have a share of up to 50% of all bookings

made on a mobile phone. As we own all our data, we have access to large amounts

of information that enable cost-effective communication with the individual

traveler. We have experienced significant interest from other industry players

who request assistance and to potentially access components from our platform,

or simply to 'hire' our IT department," added Huser.

Founded years apart, the coincidental namesake companies extend their existing

partnerships on the back of the AirBroker ONE platform, a business acquired by

FLYR Labs in 2022. The expanded engagement will provide Flyr AS with AI-based

pricing and forecasting capabilities across products, and access to an enhanced

booking engine that unleashes next-generation retailing capabilities. Included

under the agreement are dynamic ancillary pricing capabilities that maximize

conversion and revenue. The solution allows for optimization at different

customer touchpoints, ensuring that customers can be provided with the right

product, at the right price, and in the right channel.

"It's a pleasure to work with an airline that actively pursues technology for

the betterment of its business and its customers," said Alex Mans, founder and

CEO of FLYR Labs. "Our Revenue Operating System will help Flyr's decision

-making, resulting in improved outcomes across its commercial functions and more

personalized customer experiences. This partnership is also a great opportunity

for FLYR Labs, as it will showcase the full power of our end-to-end solution

portfolio."

With FLYR's commercial intelligence and optimization platform coupled with the

backend capability developed by Flyr AS for billing, settlement, and accounting,

the combination represents an industry-first example of a "One Order" operated

airline. These capabilities will come together for live operation at Flyr AS by

mid-2023.

For further information please contact:

Flyr AS: Lasse Sandaker-Nielsen, Chief Corporate Affairs Officer, lsn@flyr.com

FLYR Labs: media@flyrlabs.com

About Flyr AS

Flyr is Norway's new airline that in just over a year in the air has excited the

market with popular destinations, affordable fares, and friendly service. The

route network includes several destinations in Norway, several European cities

such as Paris, Rome, Brussels, Berlin, and Barcelona, as well as typical holiday

destinations such as Alicante, Malaga, and Las Palmas. During the summer season,

the company also offers flights to a number of other destinations in Portugal,

Greece, Croatia, and Italy. All of Flyr's 450 dedicated colleagues are

permanently and directly employed by the airline. Flyr has a fleet of 12 Boeing

737-800 and Boeing 737-8 aircraft with an average age of about five years. This

makes the fleet the most modern, most fuel-efficient, and most environmentally

friendly in the Nordics. Since it took to the skies, 1.8 million have chosen to

travel with the airline, and 350,000 are members of the loyalty program. The

company's latest systems enable easy and efficient operations with few

resources. New technology also makes it possible to offer guests a fully digital

journey from booking to arrival at the destination. To learn more, visit

www.flyr.com.

About FLYR Labs

FLYR Labs, the pioneer of The Revenue Operating System, is focused on the

relentless application of advanced and intuitive technologies that help

transportation leaders unlock their highest potential. Its clean sheet,

vertically integrated platform, brings data, forecasting, pricing, reporting,

and simulation capabilities into a "single pane of glass" that informs and

automates commercial-wide functions. FLYR's end-to-end platform enables all

commercial decisions and eCommerce experiences, including an internet booking

engine (IBE), offer management, customer messaging, customer management, and

content management capabilities, resulting in improved revenue performance and

digital customer experiences. FLYR Labs is headquartered in California with

offices in Los Angeles, San Francisco, Dallas, Krakow, and Amsterdam. To learn

more about FLYR Labs, visit flyrlabs.com or follow @flyrlabs on Twitter and

LinkedIn.