Norwegian Air Shuttle ASA

Earnings Release • Jun 6, 2024

Norwegian Air Shuttle TRAFFIC FIGURES MAY 2024

In May, Norwegian's capacity was 19% higher than May last year and 10% higher than the previous month. The load factor was 82%, down 2 p.p. from the same period last year. On average, Norwegian operated 84 aircraft during May.

Compared to the same period last year:

ASK: 3,466m

Total capacity (ASK) increased 19%

RPK: 2,843m Total passenger traffic (RPK) increased 16%

74 grams per RPK, 2% less CO2

Load Factor

Load factor this month decreased 2 p.p.

Total number of passengers was 2,138,484, an increase of 12%

TRAFFIC DEVELOPMENT

May	May-24	May-23	Change
ASK (million)	3,466	2,901	19 %
RPK (million)	2,843	2,441	16 %
Load factor	82.0 %	84.1 %	-2 p.p.
Passengers	2,138,484	1,903,023	12 %
Traffic 12-month rolling	May-24	May-23	Change
ASK (million)	33,541	30,423	10 %
RPK (million)	28,480	25,619	11 %
Load factor	84.9 %	84.2 %	1 p.p.
Passengers	21,239,437	19,981,569	6 %

PASSENGER REVENUES (ESTIMATE)

May	May-24	May-23	Change
Yield – total	0.86	0.88	-3 %
Unit revenue – total	0.70	0.74	-5 %

OPERATING PERFORMANCE

May	May-24	May-23	Change
Regularity	99.5	99.7	-0.2
	%	%	p.p.
Punctuality	86.1	84.9	1.2
	%	%	p.p.
CO2	74	76	-2.5 %
per RPK	g	g

OPERATING PERFORMANCE

FUEL HEDGE POSITIONS

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

	Volume (mt)	Price (USD/mt)
Q2 2024	106,360	805
Q3 2024	126,350	804
Q4 2024	87,500	796
2025	188,850	808
2026	27,950	785

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

Widerøe's Flyveselskap TRAFFIC FIGURES MAY 2024

In May, Widerøe's capacity was unchanged from May last year and 1% higher compared to the previous month. The load factor was 69%, up 7 p.p. from the same period last year.

Compared to the same period last year:

Total capacity (ASK) unchanged RPK: ASK: 179m

Total passenger traffic (RPK) increased 10%

31 kg per seat, 2% less CO2

Load Factor

124m

Load factor this month increased 7 p.p.

Total number of passengers was 333,492, an increase of 10%

TRAFFIC DEVELOPMENT

May	May-24	May-23	Change
ASK (million)	179	179	0 %
RPK (million)	124	113	10 %
Load factor	69.4 %	62.8 %	7 p.p.
Passengers	333,492	301,977	10 %
Traffic 12-month rolling	May-24	May-23	Change
ASK (million)	2,088	2,069	1 %
RPK (million)
	1,450	1,397	4 %
Load factor	69.4 %	67.6 %	2 p.p.
Passengers	3,553,713	3,448,745	3 %

PASSENGER REVENUES (ESTIMATE)

May	May-24	May-23	Change
Yield – total	4.46	4.00	11 %
Unit revenue – total	3.09	2.51	23 %

OPERATING PERFORMANCE

May	May-24	May-23	Change
Regularity	97.1 %	97.7 %	-0.7 p.p.
Punctuality	93.7	93.1	0.6
	%	%	p.p.
CO2	30.7	31.3	-2 %
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)
Q2 2024	13,575	7,571
Q3 2024	14,275	7,905
Q4 2024	13,225	8,082
2025	28,200	8,242
2026-2027	23,450	8,188

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