Norse Atlantic ASA

Earnings Release • Mar 2, 2022

Norse Atlantic Airways Reports Second Half and Preliminary Full Year 2021 Results

Norse Atlantic Airways Reports Second Half and Preliminary Full Year 2021 Results

"We are grateful for all the support we've received in our build-up phase,

including from authorities, union partners, travel and tourism organizations and

future customers. We are on track to launch ticket sales in late March and ready

for our first flight in the second quarter. We look forward to welcoming

travelers on both sides of the Atlantic on board our comfortable and more

environmentally friendly Dreamliners," said CEO and Founder Bjørn Tore Larsen of

Norse Atlantic Airways.

"We are building a high-performance culture and creating an environment where we

value diversity, and all colleagues feel a sense of belonging. Our unique Team

Norse culture will be our competitive advantage," Larsen said.

"The tragedy unfolding in Ukraine creates uncertainties within international air

transport. However we can not yet assess to which extent it will impact Norse,"

Larsen added.

Headlines H2 2021

·

First aircraft delivered in December 2021; six more aircraft delivered post

-period end

·

Received Air Operator's Certificate (AOC) in Norway

·

Signed collective agreements with the pilot unions in the UK and Norway

(following pre-hire agreeement with the Association of Flight Attendants in the

U.S.)

·

Received approval from the U.S. Department of Transport for Transatlantic

Flights, post-period end

Headlines FY2021

·

Norse Atlantic Airways established

·

USD 171.5 million equity raised and successful listing on Euronext Growth Oslo

Børs

·

Secured 15 modern Boeing 787 Dreamliners on long-term leases at favorable

pricing and cash flows

Please find report attached.

Contacts

Investor contact: Ben Boiling, CFO, ben.boiling@flynorse.com

Media contact: Lasse Sandaker-Nielsen, Chief Communications Officer,

lasse.sandaker-nielsen@flynorse.com

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and 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 2 March 2022

at 08:00 CET.

Norse Atlantic Airways is a new airline that will offer affordable fares on long

-haul flights, primarily between Europe and the United States. The company was

founded by CEO and major shareholder Bjørn Tore Larsen in March 2021. Norse has

a fleet of 15 modern, fuel-efficient and more environmentally friendly Boeing

787 Dreamliners that will serve destinations including New York, Florida, Paris,

London and Oslo, among others. First flights are expected to take off in the

second quarter 2022.