Norwegian Air Shuttle ASA

Earnings Release • Dec 6, 2022

Norwegian Air Shuttle ASA TRAFFIC FIGURES NOVEMBER 2022

In November, the capacity was 48% higher than November last year and down 21% compared to the previous month. The load factor was 79.5%, up 3 p.p. from the same period last year. On average, Norwegian operated 64 aircraft during November.

Compared to the same period last year:

ASK: 2,122m

Total capacity (ASK) increased 48%

RPK: 1,686m

Total passenger traffic (RPK) increased 54%

81 grams per RPK, 5% less CO2

Load Factor

79.5%

Load factor this month increased 3 p.p.

Total number of passengers was 1,374,828, an increase of 37%

TRAFFIC DEVELOPMENT

November	Nov-22	Nov-21	Change
ASK (million)	2,122	1,430	48 %
RPK (million)	1,686	1,096	54 %
Load factor	79.5 %	76.6 %	3 p.p.
Passengers	1,374,828	1,005,380	37 %
Traffic 12-month rolling	Nov-22	Nov-21	Change
ASK (million)	26,799	8,054	233 %
RPK (million)	22,201	5,854	279 %
Load factor	82.8 %	72.7 %	10 p.p.
Passengers	17,453,907	5,390,864	224 %

PASSENGER REVENUES (ESTIMATE)

November	Nov-22	Nov-21	Change
Yield – ticket revenue	0.61	0.54	13 %
Yield – total	0.74	0.67	10 %
Unit revenue – ticket	0.49	0.42	17 %
Unit revenue – total	0.59	0.52	14 %

OPERATING PERFORMANCE

November	Nov-22	Nov-21	Change
Regularity	99.7	99.8	-0.1
	%	%	p.p.
Punctuality	90.3	91.3	-1.0
	%	%	p.p.
CO2	81	85	-5 %
per RPK	g	g

OPERATING PERFORMANCE

Scheduled flights that operated this month

FUEL HEDGE POSITIONS

The group has hedged jet fuel for the following volume and price:

	Volume (mt)	Price (USD/mt)
Q4 2022	-	-
Q1 2023	17,600	903
Q2 2023	27,600	908
2H 2023	54,200	897

Norwegian Air Shuttle ASA investor.relations@norwegian.com ● www.norwegian.com

ITEM	DESCRIPTION
ASK	Available seat kilometres. Number of available passenger seats multiplied by flight distance
CO2 per RPK	Amount of CO2 emssions divided by RPK
Load Factor	RPK divided by ASK. A measure of utilisation of available seats
Punctuality	Share of flights departing on schedule
Regularity	Share of scheduled flights taking place
RPK	Revenue passenger kilometres. Number of sold seats multiplied by flight distance
Yield – ticket revenue	Passenger ticket revenue divided by RPK. A measure of average fare per kilometre
Yield – total revenue	Passenger ticket revenue and flight related ancillary revenue divided by RPK. A measure of average passenger revenue per kilometre
Unit revenue – ticket	Passenger ticket revenue divided by ASK
Unit revenue – total	Passenger ticket revenue and flight related ancillary revenue divided by ASK