Norse Atlantic ASA

Earnings Release • Apr 3, 2025

Norse Remains With Record-High Load Factor

In March, Norse Atlantic Airways recorded a load factor of 95%, equaling its highest ever load factor achieved, and representing a 13-percentage point increase from 82% in the same month the year before. The load factor of own scheduled network stand-alone was 93%, compared to 79% in March 2024. The Company operated 374 flights and transported 108,710 passengers across its network and ACMI/charter operations, a 27% increase in passenger numbers compared to the same period last year. 73% of the flights departed within 15 minutes of their scheduled departure time, on par with 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 167 flights operated in March 2025 compared to 46 flights in March 2024.

KEY FIGURES MARCH 2025 *compared year on year	Load Factor 95% 13 p.p.	ASK (millions) 783 4%	RPK (millions) 748 22%
Passengers 108,710 27%	Flights 374 15%	Completion 100% - p.p.	Punctuality 73% - 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.