Norwegian Air Shuttle ASA

Earnings Release • May 7, 2025

Norwegian Air Shuttle TRAFFIC FIGURES APRIL 2025

In April, Norwegian's capacity was 1% higher than April last year and 15% higher compared to the previous month. The load factor was 83.6%, up 3.2 p.p. from the same period last year. On average, Norwegian operated 82 aircraft during April.

Compared to the same period last year:

ASK: 3,194m

Total capacity (ASK) increased 1%

RPK: 2,669m Total passenger traffic (RPK) increased 5%

72 grams per RPK, 4.8% lower CO²

Load Factor

Load factor this month increased 3.2 p.p.

Total number of passengers was 1,931,550, an increase of 2%

TRAFFIC DEVELOPMENT

April	Apr-25	Apr-24	Change
ASK (million)	3,194	3,155	1 %
RPK (million)	2,669	2,535	5 %
Load factor	83.6 %	80.3 %	3.2 p.p.
Passengers	1,931,550	1,895,844	2 %
Traffic 12-month rolling	Apr-25	Apr-24	Change
ASK (million)	37,593	32,976	14 %
RPK (million)	31,873	28,081	14 %
Load factor	84.8 %	85.2 %	-0.4 p.p.
Passengers	22,850,853	21,007,458	9 %

PASSENGER REVENUES (ESTIMATE)

April	Apr-25	Apr-24	Change
Yield – total	0.92	0.81	13 %
Unit revenue – total	0.77	0.65	18 %

OPERATING PERFORMANCE

April	Apr-25	Apr-24	Change
Regularity	99.6	98.8	0.8
	%	%	p.p.
Punctuality	88.1	81.3	6.8
	%	%	p.p.
CO2	72	75	-4.8 %
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 2025	138,650	745
Q3 2025	161,950	731
Q4 2025	105,600	727
2026	172,800	692
2027	13,950	667

Widerøe's Flyveselskap TRAFFIC FIGURES APRIL 2025

In April, Widerøe's capacity was 2% lower than April last year and 3% higher compared to the previous month. The load factor was 71.8%, up 7.7 p.p. from the same period last year.

Compared to the same period last year:

Total capacity (ASK) decreased 2% ASK: 174m

RPK: 125m Total passenger traffic (RPK) increased 10%

32 kg per seat, 4.7% higher CO²

Load Factor

Load factor this month increased 7.7 p.p.

Total number of passengers was 334,228, an increase of 6%

TRAFFIC DEVELOPMENT

April	Apr-25	Apr-24	Change
ASK (million)	174	177	-2 %
RPK (million)	125	113	10 %
Load factor	71.8 %	64.1 %	7.7 p.p.
Passengers	334,228	315,525	6 %
Traffic 12-month rolling	Apr-25	Apr-24	Change
ASK (million)	2,099	2,089	0.5 %
RPK (million)	1,544	1,439	7 %
Load factor	73.6 %	68.9 %	4.7 p.p.
Passengers	3,948,617	3,522,228	12 %

PASSENGER REVENUES (ESTIMATE)

April	Apr-25	Apr-24	Change
Yield – total	4.40	4.72	-7 %
Unit revenue – total	3.16	3.02	4 %

OPERATING PERFORMANCE

April	Apr-25	Apr-24	Change
Regularity	94.5 %	96.5 %	-1.9 p.p.
Punctuality	85.5 %	91.5 %	-5.9 p.p
CO2 per seat	31.6 kg	30.2 kg	4.7 %

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 2025	10,000	8,379
Q3 2025	10,850	8,354
Q4 2025	10,600	8,219
2026	27,700	8,020
2027	17,400	8,104
2028	4,300	7,713

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