Norwegian Air Shuttle ASA

Earnings Release • Oct 4, 2024

Norwegian Air Shuttle TRAFFIC FIGURES SEPTEMBER 2024

In September, Norwegian's capacity was 10% higher than September last year and 9% lower compared to the previous month. The load factor was 85.2%, up 1 p.p. from the same period last year. On average, Norwegian operated 86 aircraft during September.

Compared to the same period last year:

ASK: 3,541m Total capacity (ASK) increased 10%

RPK: 3,017m Total passenger traffic (RPK) increased 12%

72 grams per RPK, 3% less CO²

Load Factor

Load factor this month Increased 1.2 p.p.

Total number of passengers was 2,263,270, an increase of 11%

TRAFFIC DEVELOPMENT

September	Sep-24	Sep-23	Change
ASK (million)	3,541	3,208	10 %
RPK (million)	3,017	2,696	12 %
Load factor	85.2 %	84.0 %	1.2 p.p.
Passengers	2,263,270	2,030,052	11 %
Traffic 12-month rolling	Sep-24	Sep-23	Change
ASK (million)	35,179	32,136	9 %
RPK (million)	29,919	27,023	11 %
Load factor	85.0 %	84.1 %	1.0 p.p.
Passengers	22,153,435	20,475,064	8 %

PASSENGER REVENUES (ESTIMATE)

September	Sep-24	Sep-23	Change
Yield – total	0.89	0.86	3 %
Unit revenue – total	0.75	0.72	5 %

OPERATING PERFORMANCE

September	Sep-24	Sep-23	Change
Regularity	99.4	99.7	-0.3
	%	%	p.p.
Punctuality	78.6	84.6	-6.0
	%	%	p.p.
CO2	72	74	-3 %
per RPK	g	g

OPERATING PERFORMANCE

Scheduled flights that operated this month

FUEL HEDGE POSITIONS

99.3%

Norwegian has hedged jet fuel for the following volume and price as per month-end:

	Volume (mt)	Price (USD/mt)
Q3 2024	140,350	799
Q4 2024	110,500	787
2025	325,800	779
2026	42,350	775

Widerøe's Flyveselskap TRAFFIC FIGURES SEPTEMBER 2024

In September, Widerøe's capacity was 3% higher than September last year and 6% lower compared to the previous month. The load factor was 73.5%, up 7 p.p. from the same period last year.

Compared to the same period last year:

Total capacity (ASK) increased 3% ASK: 182m

RPK:

134m

Total passenger traffic (RPK) increased 13%

32 kg per seat, 2% higher CO²

Load Factor

73.5%

Load factor this month increased 6.7 p.p.

Total number of passengers was 356,259, an increase of 17%

TRAFFIC DEVELOPMENT

September	Sep-24	Sep-23	Change
ASK (million)	182	177	3 %
RPK (million)	134	119	13 %
Load factor	73.5 %	66.8 %	6.7 p.p.
Passengers	356,259	304,553	17 %
Traffic 12-month rolling	Sep-24	Sep-23
			Change
ASK (million)	2,065	2,079	-1
RPK (million)	1,469	1,391	6
Load factor	71.2 %	66.9 %	% % 4.2 p.p.
Passengers	3,673,112	3,412,951	8 %

PASSENGER REVENUES (ESTIMATE)

September	Sep-24	Sep-23	Change
Yield – total	4.28	3.91	9 %
Unit revenue – total	3.15	2.62	20 %

OPERATING PERFORMANCE

September	Sep-24	Sep-23	Change
Regularity	96.0 %	97.5 %	-1.5 p.p.
Punctuality	90.1	91.9	-1.8
	%	%	p.p.
CO2	32.0	31.3	2.1 %
per seat	kg	kg

OPERATING PERFORMANCE

FUEL HEDGE POSITIONS

Widerøe has hedged jet fuel for the following volume and price as per month-end:

	Volume (mt)	Price (NOK/mt)
Q3 2024	14,275	7,905
Q4 2024	13,225	8,082
2025	33,200	8,249
2026-2027	28,950	8,194

ITEM	DESCRIPTION
ASK	Available seat kilometres. Number of available passenger seats multiplied by flight distance
CO2 per RPK	Amount of CO2 emissions divided by RPK
CO2 per seat	Amount of CO2 emissions divided by available seats
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 – total revenue	Passenger ticket revenue and flight related ancillary revenue divided by RPK. A measure of average passenger revenue per kilometre. Includes compensation for PSO routes for Widerøe Flyveselskap
Unit revenue – total	Passenger ticket revenue and flight related ancillary revenue divided by ASK. A measure of average passenger revenue per available seat kilometre. Includes compensation for PSO routes for Widerøe Flyveselskap