Norse Atlantic ASA

Norse Atlantic Airways update and completion of aircraft subleases

Arendal, 8 July 2022: Norse Atlantic Airways successfully launched flights in

June as planned, commencing from Oslo to New York and Fort Lauderdale, and

recording a load factor for the month of 82%. The past week has seen Norse

commence flights from Oslo to Orlando, and in August will increase the number of

daily flights from Oslo by adding Los Angeles. Routes from London to New York

and Oslo, and from Berlin to New York and Los Angeles, will also start in

August. The Company today released the first of its winter 2022 season tickets,

with further destinations for the winter season due to be announced during July

and August.

Aircraft subleases

With reference to the announcement dated 12 April regarding signing of a term

sheet for sublease of four aircraft, Norse has now delivered the fourth and

final aircraft to the lessee, Air Europa. The first three aircraft were

delivered to the lessee at the end of June. The lease terms are 18 months and

these subleases provide positive fixed monthly cash flow for Norse throughout

the period.

Contacts:

Investors: CFO, Ben Boiling, [email protected]

Media: VP Communications & PR, Philip Allport,

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

-12 the Norwegian Securities Trading Act. This stock exchange release was

published by Ben Boiling, CFO, Norse Atlantic ASA, on 8 July 2022 at 07:00 CET.

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