Press release - 20 October 2011 07:30

Norwegian Third Quarter Results 2011

Third quarter revenue up by 19.4 % to MNOK 3,376.2 (2,827.9).

Earnings before depreciation and leasing (EBITDAR) in the third quarter were MNOK 1,206.2 (839.9).

Earnings before depreciation (EBITDA) in the third quarter were MNOK 1,001.2 (623.6).

Net result after tax in the third quarter was MNOK 494.9 (528.1).

Ancillary revenue per passenger down 5 % in the third quarter.

The number of passengers in the third quarter was 4.61 mill. (+21%).

Unit cost was NOK 0.37 in the third quarter compared to NOK 0.41 in the third quarter last year. Unit cost excluding fuel was NOK 0.23 in the third quarter compared to NOK 0.30 in the third quarter last year.

Cash and money market deposits of MNOK 1,430 (1,181) as of 30.09.11

Cash flow from operating activities in the third quarter was MNOK 243 (-48)

For further information please see the enclosed report, presentation and press release.

Topics

Norwegian Air Shuttle ASA, commercially branded “Norwegian,” is a public low-cost airline noted on the Oslo Stock Exchange. The company is the second largest airline in Scandinavia, and has a route portfolio that stretches across Europe into North Africa and the Middle East. With competitive prices and customer friendly solutions and service, the company has experienced significant growth over the previous years. With more than 13 million passengers in 2010, Norwegian is the 3rd largest low-cost airline in Europe. Norwegian currently operates 59 aircraft on 265 routes to 102 destinations and employs approximately 2 500 people.

Contacts

For journalists only

Press contact Norwegian Press Office press@norwegian.com +47 815 11 816

Marketing/sponsorhip requests: marketing@norwegian.com

Press contact Marketing/sponsorship requests: marketing@norwegian.com

Norwegian Reports Record Results for Third Quarter

Norwegian (NAS) today reported third quarter 2011 operating results of 1 BNOK. This is the company's best ever quarterly results. The company’s overall cost is significantly reduced by 10 percent. Brand new aircraft have saved the company as much as 47 MNOK in fuel costs compared to the same quarter previous year.

Norwegian.com

The Norwegian group is a leading Nordic aviation company, headquartered at Fornebu outside Oslo, Norway. The company has over 8,200 employees and owns two of the prominent airlines in the Nordics: Norwegian Air Shuttle and Widerøe’s Flyveselskap. Widerøe was acquired by Norwegian in 2024, aiming to facilitate seamless air travel across the two airline’s networks.

Norwegian Air Shuttle, the largest Norwegian airline with around 4,700 employees, operates an extensive route network connecting Nordic countries to key European destinations. In 2023, Norwegian carried over 20 million passengers and maintained a fleet of 87 Boeing 737-800 and 737 MAX 8 aircraft.

Widerøe’s Flyveselskap, Norway’s oldest airline, is Scandinavia’s largest regional carrier. The airline has more than 3,500 employees. Mainly operating the short-runway airports in rural Norway, Widerøe operates several state contract routes (PSO routes) in addition to its own commercial network. In 2023, the airline had 3.3 million passengers and a fleet of 48 aircraft, including 45 Bombardier Dash 8’s and three Embraer E190-E2's. Widerøe Ground Handling provides ground handling services at 41 Norwegian airports.

The Norwegian group has sustainability as a key priority and has committed to significantly reducing carbon emissions from its operations. Among numerous initiatives, the most noteworthy is the investment in production and use of fossil-free aviation fuel (SAF). Norwegian strives to become the sustainable choice for its passengers, actively contributing to the transformation of the aviation industry.