Norse Atlantic ASA

Strong Operational Performance as summer peak begins to soften and ACMI/charter operations increase.

In September, Norse Atlantic Airways demonstrated a strong operational

performance as the airline transitioned toward the end of the summer season. The

month saw an average load factor of 78 per cent, representing an increase of 22

percentage points (p.p.) year on year. During September, Norse Atlantic Airways

had 132,556 passengers across 503 flights, 80 per cent of flights arrived within

15 minutes of their scheduled arrival time. In addition, Norse Atlantic Airways

operated 5 ACMI/charters during the month.

"We have seen continued strong demand at the beginning of the month, as expected

this has begun to soften towards the end of September in certain markets as we

transition to our winter schedule. We have already successfully completed five

ACMI/charters in September and this will continue to grow throughout the winter

contributing a positive revenue stream for the company as we optimise the use of

our fleet in the most efficient way during this period.

At the beginning of the month we announced our new Paris to Los Angeles route

that will operate from May 2024. We have also extended the availability of our

flights across our summer network through to October 2024, allowing customers to

plan their travel for the year ahead and avail of the best prices available,"

said Bjorn Tore Larsen, CEO and Founder of Norse Atlantic Airways.

Key traffic figures for September are attached.

Contacts:

Investors: CFO, Anders Jomaas, [email protected]

Media: SVP Communications, Philip Allport, [email protected]

Norse Atlantic Airways is an airline that offers 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 serve destinations including New York, Los Angeles, Orlando,

Boston, Washington, San Francisco, Boston, Jamaica, Barbados, Bangkok, Miami,

Oslo, London, Berlin, Rome and Paris. The company's first flight took off from

Oslo to New York on June 14, 2022.

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