Press release - 23 April 2009 12:19

The net result improved by MNOK 101 in Q1 2008

More than 2.1 million passengers chose to travel with Norwegian in the first quarter of 2009 - an increase of close to 108,000 passengers compared to last year. The turnover was BNOK 1.4, an increase of 27 percent. The net result was MNOK -110 which is significantly better than last year. The seasonal variations in the aviation industry always hamper profitability in the first quarter. This, in combination with the currently challenging world economy, makes the CEO Bjorn Kjos satisfied with the results.

- I am pleased with the first quarter results. Despite operating in an industry facing large economic challenges, we managed to significantly improve our first quarter results compared to last year. The Norwegian operation runs well, and we have restructured the organization in Sweden. We are also launching several new routes out of Denmark. These factors are expected to yield positive results in 2009, said CEO Bjorn Kjos.
In the Norwegian domestic market the number of passengers increased by as much as 25 percent. The growth is related to a stronger domestic focus, with among other things 12 more domestic routes compared to last year.

New, more environmentally friendly aircraft

Mr. Kjos also points out the ongoing fleet renewal, with more environmentally friendly aircraft of the type Boeing 737-800 continuously replacing the older aircraft in the current fleet.

- Only since new-year five new and more environmentally friendly Boeing 737-800 aircraft have entered the fleet. We are simultaneously in the process of phasing out the ageing and more polluting MD-80 aircraft, a significant contribution in an environmental context as well as the replacement enables the company to transport more passengers, said Kjos.

Key figures first quarter 2009 (Q1 2008)
Passengers: 2.1 million (2.0 million)
Revenue: 1.4 BNOK (1.1 BNOK)
Load factor: 75 % (77 %)
EBITDAR: + 49 MNOK (- 145 MNOK)
EBITDA: -102 MNOK (- 226 MNOK)
EBT: -150 MNOK (-293 MNOK)
Net result: -110 MNOK (- 211 MNOK)

For further information, please follow the below link:
http://www.norwegian.no/sw24377.asp

Contacts:
SVP Corporate Communications Anne-Sissel Skånvik, tel 48 99 44 40
CFO Frode Foss, tel 91 63 16 45

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

Marketing/sponsorhip requests: marketing@norwegian.com

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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.