Norwegian Air Shuttle ASA

Earnings Release • Apr 11, 2023

Norwegian Air Shuttle ASA TRAFFIC FIGURES MARCH 2023

In March, the capacity was 58% higher than March last year and 29% higher compared to the previous month. The load factor was 81%, up 1 p.p. from the same period last year. On average, Norwegian operated 67 aircraft during March.

Compared to the same period last year:

ASK: 2,347m

Total capacity (ASK) increased 58%

RPK: 1,903m

Total passenger traffic (RPK) increased 60%

79 grams per RPK, 1% higher CO²

Load Factor

Load factor this month increased 1 p.p.

Total number of passengers was 1,502,366, an increase of 60%

TRAFFIC DEVELOPMENT

March	Mar-23	Mar-22	Change
ASK (million)	2,347	1,485	58 %
RPK (million)	1,903	1,192	60 %
Load factor	81.1 %	80.3 %	1 p.p.
Passengers	1,502,366	939,973	60 %
Traffic 12-month rolling	Mar-23	Mar-22	Change
ASK (million)	29,553	12,940	128 %
RPK (million)	24,666	9,703	154 %
Load factor	83.5 %	75.0 %	9 p.p.
Passengers	19,431,838	8,201,980	137 %

PASSENGER REVENUES (ESTIMATE)

March	Mar-23	Mar-22	Change
Yield – ticket revenue	0.68	0.52	30 %
Yield – total	0.81	0.65	24 %
Unit revenue – ticket	0.55	0.42	31 %
Unit revenue – total	0.65	0.52	25 %

OPERATING PERFORMANCE

March	Mar-23	Mar-22	Change
Regularity	99.2	99.4	-0.2
	%	%	p.p.
Punctuality	80.8	90.1	-9.3
	%	%	p.p.
CO2	80	79	1 %
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 as per month-end:

	Volume (mt)	Price (USD/mt)
Q1 2023	17,600	903
Q2 2023	55,800	878
2H 2023	113,200	865
2024	75,500	792

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