Norse Atlantic ASA

Norse Atlantic continues positive trend and records its highest ever load factor

October saw Norse Atlantic record its highest ever load factor for a month,

achieving 90%, which represented a 15-percentage point (p.p.) year-on-year

increase. During October, Norse Atlantic had 118,502 passengers, representing an

increase of 16 per cent compared to a year earlier, across 410 flights,

including 50 charters. Norse Atlantic completed 99 per cent of scheduled flights

in the month, while 74 per cent of flights arrived within 15 minutes of their

scheduled arrival time.

"It is a pleasure to report our highest ever load factor in what is just under

two and a half years since our first flight, continuing the positive trend in

month-on-month passenger numbers as we continue to improve all parts of our

business.

In October we celebrated an important milestone as we connected the UK to South

Africa, operating our first direct nonstop flight between London and Cape Town.

The sold-out inaugural was a testament to the need and demand of great value and

comfortable flights on this route, which for far too long has been subjected to

a lack of competition to the detriment of travellers. We are looking forward to

a busy winter ahead and welcoming an increasing number of passengers across our

network," said Bjorn Tore Larsen, CEO and Founder Norse Atlantic.

Key traffic figures for October are attached.

Contacts:

Investors: CFO, Anders Hall Jomaas, [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, Las Vegas,

Miami, Orlando, Bangkok, Cape Town, Oslo, Athens, 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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