Norwegian Air Shuttle ASA — Earnings Release 2016

Dec 6, 2016

TRAFFIC FIGURES NOVEMBER 2016 NORWEGIAN AIR SHUTTLE ASA

TRAFFIC DEVELOPMENT

The total number of passengers flown in November 2016 was 2,265,145 compared to 1,952,083 last year, an increase of 313,062 passengers (16 %).

Compared to the same period last year:

• Total passenger traffic (RPK) increased by 31 %
• Total capacity (ASK) increased by 29 %
• The load factor was 84.0 %, up 0.9 p.p.

Traffic Development
November	Nov-16	Nov-15	chg
Internet bookings	78 %	77 %	1 p.p
ASK (mill)	4,923	3,810	29 %
RPK (mill)	4,135	3,167	31 %
Load factor	84.0 %	83.1 %	0.9 p.p
Passengers	2,265,145	1,952,083	16 %
Traffic 12 mth rolling	Nov-16	Nov-15	chg
Internet bookings	75 %	77 %	-2 p.p
ASK (mill)	56,818	48,614	17 %
RPK (mill)	49,824	41,874	19 %
Load factor	87.7 %	86.1 %	1.6 p.p
Passengers	28,943,961	25,601,003	13 %

PASSENGER REVENUES

The unit revenue (RASK) is estimated at 0.28 for the period (-14 %).

The average flying distance for the Group increased by 11 % in November compared to the same period last year.

Yield & Unit Revenue (NOK) (Estimate)
November	Nov-16 Nov-15		chg
Yield	0.34	0.39	-14 %
RASK	0.28	0.33	-14 %

OPERATING PERFORMANCE

In November the Group operated 99.7 % of its scheduled flights, whereof 73.5 % departed on time.

Operating Performance
November	Nov-16
Regularity	99.7 %
Punctuality	73.5 %

HEDGE POSITIONS

The Group has entered into term contracts and options during the period. By the end of November, the Group estimates a quarter-to-date gain of NOK 40 million including gains of NOK 75 million related to unrealized hedge positions.

Hedge Positions
Q4 16 Hedges		Volume		Price
USD/NOK	USD	-	NOK	-
Jet Fuel (Tons)	mt	148,500	USD	525
Q1 17 Hedges		Volume		Price
USD/NOK	USD	-	NOK	-
Jet Fuel (Tons)	mt	145,041	USD	521
Post Q1 17 Hedges		Volume		Price
Jet Fuel (Tons)	mt	681,725	USD	492