Norwegian Air Shuttle ASA — Earnings Release 2016

Jan 5, 2017

TRAFFIC FIGURES DECEMBER 2016 NORWEGIAN AIR SHUTTLE ASA

TRAFFIC DEVELOPMENT

The total number of passengers flown in December 2016 was 2,145,043 compared to 1,787,607 last year, an increase of 357,436 passengers (20 %).

Compared to the same period last year:

• Total passenger traffic (RPK) increased by 31 %
• Total capacity (ASK) increased by 29 %
• The load factor was 84.6 %, up 1.3 p.p.

Traffic Development
December	Dec-16	Dec-15
Internet bookings	78 %	77 %	1 p.p
ASK (mill)	4,853	3,761	29 %
RPK (mill)	4,107	3,132	31 %
Load factor	84.6 %	83.3 %	1.3 p.p
Passengers	2,145,043	1,787,607	20 %
Traffic 12 mth rolling	Dec-16	Dec-15	chg
Internet bookings	75 %	76 %	-1 p.p
ASK (mill)	57,910	49,028	18 %
RPK (mill)	50,798	42,284	20 %
Load factor	87.7 %	86.2 %	1.5 p.p
Passengers	29,301,397	25,753,014	14 %

PASSENGER REVENUES

The unit revenue (RASK) is estimated at 0.31 for the period (-11 %).

The average flying distance for the Group increased by 8 % in December compared to the same period last year.

Yield & Unit Revenue (NOK) (Estimate)
December	Dec-16 Dec-15		chg
Yield	0.37	0.42	-12 %
RASK	0.31	0.35	-11 %

OPERATING PERFORMANCE

In December the Group operated 99.2 % of its scheduled flights, whereof 69.0 % departed on time.

Operating Performance
December	Dec-16
Regularity	99.2 %
Punctuality	69.0 %

HEDGE POSITIONS

The Group has entered into term contracts and options during the period. By the end of December, the Group estimates a quarter-to-date gain of NOK 430 million including gains of NOK 485 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