Norwegian Air Shuttle ASA

Earnings Release • Apr 4, 2025

Norwegian Air Shuttle TRAFFIC FIGURES MARCH 2025

In March, Norwegian's capacity was 13% higher than March last year and 25% higher compared to the previous month. The load factor was 81.1%, down 3.9 p.p. from the same period last year. On average, Norwegian operated 77 aircraft during March.

Compared to the same period last year:

ASK: 2,770m

Total capacity (ASK) increased 13%

RPK: 2,245m Total passenger traffic (RPK) increased 8%

74 grams per RPK, 2.9% higher CO²

Load Factor

Load factor this month decreased 3.9 p.p.

Total number of passengers was 1,587,550, an increase of 3%

TRAFFIC DEVELOPMENT

March	Mar-25	Mar-24	Change
ASK (million)	2, 770	2,441	13 %
RPK (million)	2,245	2,075	8 %
Load factor	81.1%	85.0 %	-3.9 p.p.
Passengers	1,587,550	1,544,289	3 %
Traffic 12-month rolling	Mar-25	Mar-24	Change
ASK (million)	37,554	32,493	16 %
RPK (million)	31,744	27,766	14 %
Load factor	84.5 %	85.5 %	-0.9 p.p.
Passengers	22,819,170	20,784,737	10 %

PASSENGER REVENUES (ESTIMATE)

March	Mar-25	Mar-24	Change
Yield – total	0.79	0.92	-14 %
Unit revenue – total	0.64	0.78	-18 %

OPERATING PERFORMANCE

March	Mar-25	Mar-24	Change
Regularity	99.4	99.6	-0.2
	%	%	p.p.
Punctuality	88.1	86.7	1.4
	%	%	p.p.
CO2	74	72	2.9 %
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)
Q1 2025	76,650	785
Q2 2025	111,850	770
2H 2025	205,200	757
2026	90,050	735
2027	4,300	692

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

Widerøe's Flyveselskap TRAFFIC FIGURES MARCH 2025

In March, Widerøe's capacity was 9% higher than March last year and 13% higher compared to the previous month. The load factor was 70.7%, up 0.3 p.p. from the same period last year.

Compared to the same period last year:

Total capacity (ASK) increased 9% ASK: 168m

RPK:

119m

Total passenger traffic (RPK) increased 9%

31 kg per seat, 1.4% higher CO²

Load Factor

Load factor this month increased 0.3 p.p.

Total number of passengers was 328,385, an increase of 19%

TRAFFIC DEVELOPMENT

March	Mar-25	Mar-24	Change
ASK (million)	168	155	9 %
RPK (million)	119	109	9 %
Load factor	70.7 %	70.4 %	0.3 p.p.
Passengers	328,385	276,413	19 %
Traffic 12-month rolling	Mar-25	Mar-24	Change
ASK (million)	2,102	2,069	2 %
RPK (million)	1,532	1,417	8 %
Load factor	72.9 %	68.5 %	4.4 p.p.
Passengers	3,929,914	3,452,632	14 %

PASSENGER REVENUES (ESTIMATE)

March	Mar-25	Mar-24	Change
Yield – total	4.69	4.12	14 %
Unit revenue – total	3.32	2.90	14 %

OPERATING PERFORMANCE

March	Mar-25	Mar-24	Change
Regularity	95.5 %	97.6 %	-2.1 p.p.
Punctuality	80.7 %	89.4 %	-8.7 p.p
CO2 per seat	31.5 kg	31.1 kg	1.4 %

OPERATING PERFORMANCE

that operated this

FUEL HEDGE POSITIONS

95.5%

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

	Volume (mt)	Price (NOK/mt)
Q1 2025	8,650	7,760
Q2 2025	10,000	8,379
H2 2025	21,450	8,287
2026	25,950	8,093
2027	16,500	8,158
2028	3,150	7,869

Widerøe AS

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