Norwegian Air Shuttle ASA — Earnings Release 2014

Oct 6, 2014

TRAFFIC FIGURES SEPTEMBER 2014 NORWEGIAN AIR SHUTTLE ASA

TRAFFIC DEVELOPMENT

The total number of passengers flown in September 2014 was 2 229 829 compared to 1 920 329 last year, an increase of 309 500 passengers (16 %).

Compared to the same period last year:

• Total passenger traffic (RPK) increased by 43 %
• Total capacity (ASK) increased by 37 %
• The load factor was 81.4 %, up 3.1 p.p.

The increase in passenger traffic, production and passengers is primarily driven by the establishment of new European short-haul bases and long-haul operations to North America and Southeast Asia.

Traffic Development
September	Sep-14	Sep-13	chg
Internet bookings	77 %	81 %	-4 p.p
ASK (mill)	4 238	3 086	37 %
RPK (mill)	3 451	2 416	43 %
Load factor	81.4 %	78.3 %	3.1 p.p
Passengers	2 229 829	1 920 329	16 %
Traffic 12 mth rolling	Sep-14	Aug-14	chg
Internet bookings
	79 %	80 %	-1 p.p
ASK (mill)	44 513	43 361	3 %
RPK (mill)	35 772	34 737	3 %
Load factor	80.4 %	80.1 %	0.3 p.p

PASSENGER REVENUES

The unit revenue (RASK) is estimated at 0.35 for the period (-12 %).

The average flying distance for the Group increased by 13 % in September compared to the same period last year.

Yield & Unit Revenue (NOK) (Estimate)
September	Sep-14	Sep-13	chg
Yield	0.43	0.51	-15 %
RASK	0.35	0.40	-12 %

OPERATING PERFORMANCE

In September the Group operated 99.7 % of its scheduled flights, whereof 86.8 % departed on time.

Operating Performance
September	Sep-14
Regularity	99.7 %
Punctuality	86.8 %

HEDGE POSITIONS

The Group has entered into term contracts and options during the period. By the end of September the Group estimates a quarter-to-date loss of approximately MNOK 53 related to the hedge positions.

Hedge Positions
Q3 14 Hedges		Volume		Price
USD/NOK	USD	36 400 000	NOK	5.27
Jet Fuel (Tons)	mt	41 280	USD	952
Q4 14 Hedges		Volume		Price
USD/NOK	USD	55 500 000	NOK	5.98
Jet Fuel (Tons)	mt	73 344	USD	932
Post Q4 14 Hedges		Volume		Price