Norwegian Air Shuttle ASA — Earnings Release 2017

Apr 6, 2017

TRAFFIC FIGURES MARCH 2017 NORWEGIAN AIR SHUTTLE ASA

TRAFFIC DEVELOPMENT

The total number of passengers flown in March 2017 was 2,453,551 compared to 2,195,037 last year, an increase of 258,514 passengers (12 %).

Compared to the same period last year:

• Total passenger traffic (RPK) increased by 16 %
• Total capacity (ASK) increased by 22 %
• The load factor was 84.1 %, down 3.8 p.p.

Traffic Development
March	Mar-17	Mar-16	chg
Internet bookings	76 %	74 %	2 p.p
ASK (mill)	5,154	4,239	22 %
RPK (mill)	4,336	3,725	16 %
Load factor	84.1 %	87.9 %	-3.8 p.p
Passengers	2,453,551	2,195,037	12 %
Traffic 12 mth rolling	Mar-17	Mar-16	chg
Internet bookings	75 %	75 %	0 p.p
ASK (mill)	60,756	50,774	20 %
RPK (mill)	53,116	43,990	21 %
Load factor	87.4 %	86.6 %	0.8 p.p
Passengers	30,132,778	26,613,992	13 %

PASSENGER REVENUES

The unit revenue (RASK) is estimated at 0.28 for the period (-22 %). Easter falling in April impacts unit revenue negative by approx. 10 %.

The average flying distance for the Group increased by 2 % in March compared to the same period last year.

Yield & Unit Revenue (NOK) (Estimate)
March	Mar-17	Mar-16	chg
Yield	0.34	0.42	-19 %
RASK	0.28	0.36	-22 %

OPERATING PERFORMANCE

In March the Group operated 99.5 % of its scheduled flights, whereof 78.5 % departed on time.	Operating Performance
	March	Mar-17	Mar-16	chg
	Regularity	99.5 %	99.3 %	0.2 p.p.
	Punctuality	78.5 %	75.6 %	2.9 p.p.

HEDGE POSITIONS

The Group has entered into term contracts and options during the period. By the end of March, the Group estimates a quarter-to-date loss of NOK 280 million including losses of NOK 283 million related to unrealized hedge positions.

Hedge Positions
Q1 17 Hedges	Volume			Price
USD/NOK	USD	-	NOK		-
Jet Fuel (Tons)	mt	145,041	USD		521
Q2 17 Hedges		Volume		Price
USD/NOK	USD	-	NOK		-
Jet Fuel (Tons)	mt	198,225	USD		488
Post Q2 17 Hedges		Volume		Price