Norse Atlantic ASA

Earnings Release • Feb 4, 2022

Norse aims for ticket sales to start in late March and the first flight to take off in the second quarter

Norse aims for ticket sales to start in late March and the first flight to take off in the second quarter

Norse Atlantic Airways is gearing up for the launch of affordable transatlantic

flights. The airline aims to launch ticket sales by the end of March and

the first commercial flight to take off in the second quarter from Oslo to a

U.S. destination. Pilot training has commenced, and cabin crew training will

start shortly.

"Future customers and supporters on both sides of the Atlantic are reaching out

to us every day asking about when they can start buying tickets, when we will be

airborne and not least what routes we will be offering. We are thrilled about

the interest in the market and can confirm that our goal is to launch ticket

sales by the end of March and our first flight to take off in the second

quarter," said CEO Bjørn Tore Larsen of Norse. The first flight will depart from

Oslo to a U.S. destination.

"We are working on finalizing our route network and look forward to announcing

our destinations when we open for sale," he added.

Pilot and cabin crew recruitment

The company received more than 3,000 applications to its initial 50 pilot

positions based in Oslo and training has now commenced. The first cabin crew

base will be established in Fort Lauderdale, Florida, and training of the first

class of a total of more than 400 team members will start in a few weeks. Cabin

crew bases in other locations will be established in line with increased

operation.

"Our people will be our competitive advantage. We are building a high

-performance culture and creating an environment where we value diversity,

ensuring that all colleagues feel a sense of belonging. We are very pleased with

the colleagues we have recruited so far," Larsen said.

Norse has signed collective bargaining agreements with pilot and cabin crew

unions in Norway, the U.S. and UK.

Dreamliner fleet

Norse has a fleet of modern and more environmentally friendly Boeing 787

Dreamliners. The company has taken delivery of four aircraft that are currently

parked at Oslo Airport. The remaining 11 will be delivered consecutively in the

coming months. The company will start cautiously and gradually add capacity in

line with demand.

"We believe that transatlantic travel will resume with full force once the

pandemic is behind us. People will want to explore new destinations, visit

friends and family and travel for business. Norse will be there to offer

attractive and affordable flights on our more environmentally friendly Boeing

787 Dreamliners to both leisure and cost-conscious business travelers," Larsen

added.

Norse received its Air Operator Certificate by Norway's Civil Aviation Authority

in December 2021. The airline received a Foreign Air Carrier Permit from the

U.S. Department of Transportation in January.

About Norse Atlantic Airways

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.