Norse Atlantic ASA

Earnings Release • Jan 9, 2025

Norse Atlantic Again Achieves Record-High Load Factor

Norse Atlantic Airways again recorded its highest-ever load factor in a month, achieving 94% in December 2024, a 23-percentage point increase from 71% in the same month the year before. The Company operated 434 flights and transported 124,450 passengers across its network and ACMI/ charter operations, a 57% increase in passenger numbers compared to the same period last year. 53% of the flights departed within 15 minutes of their scheduled departure time, with a 100% flight completion rate achieved. 33% of the flights arrived within 15 minutes of their scheduled arrival time. There were negative impacts from air traffic control (ATC) and air traffic flow management (ATFM) restrictions enroute, combined with airport related challenges through the peak season. ACMI/charter services saw substantial growth, with 158 flights operated in December 2024 compared to 22 flights in December 2023

KEY FIGURES DECEMBER 2024 *compared year on year	Load Factor 94% 23 p.p.	ASK (millions) 914 14%	RPK (millions) 859 52%
Passengers	Flights	Completion	Punctuality
124,450	434	100%	33%
57%	27%	-	28 p.p.

ASK (Available Seat Kilometers): Number of available passenger seats multiplied by flight distance. | Completion: Percentage of scheduled flights that operated. | LF (Load Factor): A measure of how efficiently seats are filled, found by dividing RPK by ASK.| Punctuality: Aircraft arrived within 15 minutes of the scheduled arrival time. Indicates on time performance.| RPK (Revenue Passenger Kilometers): Number of sold seats multiplied by flight distance.