Norwegian Air Shuttle ASA

Earnings Release • Jan 5, 2023

Norwegian Air Shuttle ASA TRAFFIC FIGURES DECEMBER 2022

In December, the capacity was 38% higher than December last year and unchanged compared to the previous month. The load factor was 78%, up 7 p.p. from the same period last year. On average, Norwegian operated 64 aircraft during December.

Compared to the same period last year:

ASK: 2,120m

Total capacity (ASK) increased 38%

RPK: 1,650m

Total passenger traffic (RPK) increased 51%

82 grams per RPK, 7% less CO²

Load Factor

Load factor this month increased 7 p.p.

Total number of passengers was 1,315,924, an increase of 41%

TRAFFIC DEVELOPMENT

December	Dec-22	Dec-21	Change
ASK (million)	2,120	1,536	38 %
RPK (million)	1,650	1,095	51 %
Load factor	77.8 %	71.3 %	7 p.p.
Passengers	1,315,924	931,917	41 %
Traffic 12-month rolling	Dec-22	Dec-21	Change
ASK (million)	27,382	9,437	190 %
RPK (million)	22,757	6,869	231 %
Load factor	83.1 %	72.8 %	10 p.p.
Passengers	17,840,450	6,193,117	188 %

PASSENGER REVENUES (ESTIMATE)

December	Dec-22	Dec-21	Change
Yield – ticket revenue	0.64	0.54	19 %
Yield – total	0.78	0.68	15 %
Unit revenue – ticket	0.50	0.38	31 %
Unit revenue – total	0.61	0.48	26 %

OPERATING PERFORMANCE

December	Dec-22	Dec-21	Change
Regularity	99.0	99.6	-0.6
	%	%	p.p.
Punctuality	71.6	83.8	-12.2
	%	%	p.p.
CO2	82	89	-7 %
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	37,800	896
2H 2023	77,200	885

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