Norse Atlantic ASA

Earnings Release • Mar 5, 2025

Norse Achieves Another Record-High Load Factor

In February, Norse Atlantic Airways recorded a load factor of 95%, achieving its highest ever load factor, and representing a 23-percentage point increase from 72% in the same month the year before. The load factor of own scheduled network stand-alone was 93%, compared to 70% in February 2024. The Company operated 301 flights and transported 84,335 passengers across its network and ACMI/charter operations, a 66% increase in passenger numbers compared to the same period last year. 70% of the flights departed within 15 minutes of their scheduled departure time, compared to 84% the same month last year. On-time performance was negatively impacted by Air Traffic Control (ATC) delays and airport congestions. ACMI/charter services saw large growth, with 137 flights operated in February 2025 compared to 30 flights in February 2024.

KEY FIGURES FEBRUARY 2025 *compared year on year	Load Factor 95% 23 p.p.	ASK (millions) 642 32%	RPK (millions) 612 75%
Passengers 84,335 66%	Flights 301 34%	Completion 100% -	Punctuality 70% 14 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 departed within 15 minutes of the scheduled departure time. Indicates on-time performance.| RPK (Revenue Passenger Kilometers): Number of sold seats multiplied by flight distance.