Norwegian Air Shuttle ASA

Earnings Release • Mar 6, 2024

Norwegian Air Shuttle TRAFFIC FIGURES FEBRUARY 2024

In February, Norwegian's capacity was 7% higher than February last year and 7% higher than the previous month. The load factor was 86%, up 2 p.p. from the same period last year. On average, Norwegian operated 68 aircraft during February.

Compared to the same period last year:

ASK: 1,951m

Total capacity (ASK) increased 7%

RPK: 1,676m Total passenger traffic (RPK) increased 10%

73 grams per RPK, 5% less CO2

Load Factor

Load factor this month increased 2 p.p.

Total number of passengers was 1,281,212, an increase of 9%

TRAFFIC DEVELOPMENT

February	Feb-24	Feb-23	Change
ASK (million)	1,951	1,826	7 %
RPK (million)	1,676	1,530	10 %
Load factor	85.9 %	83.8 %	2 p.p.
Passengers	1,281,212	1,173,700	9 %
Traffic 12-month rolling	Feb-24	Feb-23	Change
ASK (million)	32,398	28,691	13 %
RPK (million)	27,592	23,956	15
Load factor	85.2 %	83.5 %	% 2 p.p.
Passengers	20,737,572	18,871,052	10 %

PASSENGER REVENUES (ESTIMATE)

February	Feb-24	Feb-23	Change
Yield – total	0.84	0.77	10 %
Unit revenue – total	0.72	0.64	12 %

OPERATING PERFORMANCE

February	Feb-24	Feb-23	Change
Regularity	99.4	99.4	0.0
	%	%	p.p.
Punctuality	81.0	85.4	-4.4
	%	%	p.p.
CO2	73	77	-5 %
per RPK	g	g

OPERATING PERFORMANCE

that operated this

FUEL HEDGE POSITIONS

99.4%

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

	Volume (mt)	Price (USD/mt)
Q1 2024	65,000	815
Q2 2024	98,300	804
H2 2024	181,950	800
2025	115,950	812

Widerøe's Flyveselskap TRAFFIC FIGURES FEBRUARY 2024

In February, Widerøe's capacity was 8% higher than February last year and 1% lower compared to the previous month. The load factor was 67%, up 2 p.p. from the same period last year.

Compared to the same period last year:

Total capacity (ASK) increased 8% ASK: 149m

RPK: 100m Total passenger traffic (RPK) increased 12%

32 kg per seat, 2% less CO2

Load Factor

67.2%

Load factor this month increased 2 p.p.

Total number of passengers was 257,826, an increase of 9%

TRAFFIC DEVELOPMENT

February	Feb-24	Feb-23	Change
ASK (million)	149	138	8 %
RPK (million)	100	90	12 %
Load factor	67.2 %	65.0 %	2 p.p.
Passengers	257,826	237,482	9 %
Traffic 12-month rolling	Feb-24	Feb-23	Change
ASK (million)	2,080	2,088	0 %
RPK (million)	1,415	1,431	-1 %
Load factor	68.0 %	68.5 %	-0.5 p.p.
Passengers	3,465,220	3,522,970	-2 %

PASSENGER REVENUES (ESTIMATE)

February	Feb-24	Feb-23	Change
Yield – total	4.23	4.22	0 %
Unit revenue – total	2.84	2.75	4 %

OPERATING PERFORMANCE

February	Feb-24	Feb-23	Change
Regularity	93.4 %	93.0 %	0.4 p.p.
Punctuality	77.8	78.8	-1.0
	%	%	p.p.
CO2	32.0	32.7	-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)
Q1 2024	11,500	6,980
Q2 2024	13,575	7,571
H2 2024	27,500	7,990
2025	24,000	8,148
2026-2027	19,950	8,134

Widerøe AS kommunikasjonsavdeling@wideroe.no ● www.wideroe.no

	Monthly traffic development				Traffic 12-month rolling				Passenger Revenues (estimate)	Operating performance
	ASK (million)	RPK (million)	Load Factor	Number of passengers	ASK (million)	RPK (million)	Load Factor	Number of passengers	Yield - total	Unit revenue - total	Avg. flying distance (km)	Regularity	Punctuality	CO2 per seat (kg)
Jan-22	143	74	51.7%	193,402					4.26	2.20	260	89.5%	76.8%	32.2
Feb-22	141	88	62.1%	226,991					4.00	2.49	265	92.0%	75.6%	31.8
Mar-22	169	110	65.5%	293,831					3.71	2.43	267	95.7%	83.5%	32.0
Apr-22	166	112	67.1%	291,493					3.60	2.42	281	97.2%	84.4%	32.4
May-22	186	123	65.8%	326,166					3.63	2.39	279	97.0%	88.1%	32.2
ASK: Jun-22	184	144	78.0%	334,699					3.44	2.68	287	90.7%	84.2%	33.2
152m Jul-22	202	170	84.4%	316,061					2.82	2.38	302	96.4%	84.7%	34.8
Aug-22	197	139	70.5%	311,303					3.07	2.17	288	96.6%	87.9%	33.3
Sep-22	192	127	65.8%	329,832					3.46	2.28	279	95.8%	91.6%	31.9
Oct-22	190	125	66.0%	316,000					3.27	2.15	278	94.8%	86.7%	32.6
Nov-22	166	104	62.5%	276,683					3.92	2.45	266	97.3%	91.7%	31.3
Dec-22	151	101	66.7%	254,089	2,088	1,416	67.8%	3,470,551	3.73	2.49	271	92.2%	68.6%	32.8
Jan-23	146	87	59.7%	235,330	2,091	1,429	68.3%	3,512,479	4.34	2.59	258	94.7%	81.3%	31.5
Feb-23	138	90	65.0%	237,482	2,088	1,431	68.5%	3,522,970	4.22	2.75	266	93.0%	78.8%	32.7
Mar-23	166	107	64.2%	289,360	2,085	1,427	68.4%	3,518,498	4.21	2.70	264	95.5%	76.6%	31.6
Apr-23	157	92	58.6%	245,929	2,076	1,407	67.8%	3,472,934	4.28	2.51	268	97.7%	93.6%	30.7
May-23	179	113	62.8%	301,977	2,069	1,397	67.6%	3,448,745	4.00	2.51	270	97.7%	93.1%	31.3
Jun-23	196	141	71.7%	326,306	2,081	1,395	67.0%	3,440,352	3.47	2.49	280	96.7%	90.5%	32.1
Jul-23	215	171	79.6%	310,874	2,094	1,395	66.6%	3,435,164	2.64	2.10	316	96.4%	87.7%	35.5
Aug-23	197	143	72.5%	314,369	2,094	1,399	66.8%	3,438,230	3.33	2.41	288	97.1%	90.6%	33.1
Sep-23	177	119	66.8%	304,553	2,079	1,391	66.9%	3,412,951	3.91	2.62	268	97.5%	91.9%	31.3
Oct-23	182	125	68.4%	322,530	2,071	1,391	67.1%	3,419,481	3.82	2.61	266	97.8%	91.4%	30.8
Nov-23	160	106	66.2%	283,997	2,066	1,393	67.4%	3,426,795	4.25	2.81	259	97.1%	85.6%	30.3
Dec-23	148	105	70.7%	261,174	2,063	1,397	67.7%	3,433,880	3.98	2.81	263	95.6%	71.6%	31.7

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