Norwegian Air Shuttle ASA

Earnings Release • Jan 5, 2024

Norwegian Air Shuttle ASA TRAFFIC FIGURES DECEMBER 2023

In December, the capacity was 5% lower than December last year and unchanged from the previous month. The load factor was 83.6%, up 6 p.p. from the same period last year. On average, Norwegian operated 65 aircraft during December.

Compared to the same period last year:

ASK: 2,013m

Total capacity (ASK) decreased 5%

RPK: 1,684m

Total passenger traffic (RPK) increased 2%

74 grams per RPK, 10% less CO2

Load Factor

Load factor this month increased 6 p.p.

Total number of passengers was 1,308,441, a reduction of 1%

TRAFFIC DEVELOPMENT

December	Dec-23	Dec-22	Change
ASK (million)	2,013	2,120	-5 %
RPK (million)	1,684	1,650	2 %
Load factor	83.6 %	77.8 %	6 p.p.
Passengers	1,308,441	1,315,924	-1 %
Traffic 12-month rolling	Dec-23	Dec-22	Change
ASK (million)	32,322	27,382	18 %
RPK (million)	27,387	22,757	20 %
Load factor	84.7 %	83.1 %	2 p.p.
Passengers	20,624,228	17,840,450	16 %

PASSENGER REVENUES (ESTIMATE)

December	Dec-23	Dec-22	Change
Yield – ticket revenue	0.76	0.64	18 %
Yield – total	0.91	0.78	16 %
Unit revenue – ticket	0.64	0.50	27 %
Unit revenue – total	0.76	0.61	24 %

OPERATING PERFORMANCE

December	Dec-23	Dec-22	Change
Regularity	99.5	99.0	0.5
	%	%	p.p.
Punctuality	70.4	71.6	-1.2
	%	%	p.p.
CO2	74	82	-10 %
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)
Q4 2023	84,550	848
1H 2024	155,100	808
2H 2024	172,250	801
2025	115,950	812

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