Norse Atlantic ASA

Earnings Release • Aug 7, 2025

Norse Atlantic delivers strong growth with 94% load factor

In July, Norse Atlantic Airways recorded a load factor of 94%, representing an 11 %-points increase from 83% in the same month the previous year. The load factor of scheduled network also was 94%, compared to 82% in July 2024. The Company operated 658 flights and transported 203,712 passengers across its network and ACMI/charter operations, a 15% increase in passenger numbers. 70% of the flights departed within 15 minutes of their scheduled departure time, up 1%-points year-over-year. Air Traffic Control (ATC) delays and airport congestions continue to impact on-time performance. Norse operated 54 ACMI/charter flights in July 2025, compared to nine in July 2024.

KEY FIGURES JULY 2025 *compared year on year	Load Factor 94% 11 p.p.	ASK (millions) 1,676 10%	RPK (millions) 1,577 26%
Passengers	Flights	Completion	Punctuality
203,712	658	99.0%	70%
15%	3%	+ 0.8 p.p.	+ 1 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.