Press release - 14 July 2011 07:30

Norwegian Second Quarter Results 2011

First half revenue up by 27.5 % to MNOK 4,620 (3,624), quarterly revenue up by 34.1 % to MNOK 2,725 (2,032).

Earnings before depreciation and leasing (EBITDAR) in first half were MNOK 117.2 (121.4) and in the second quarter were MNOK 346.9 (144.2).

Earnings before depreciation (EBITDA) in first half were MNOK -293.0 (-241.0) and in the second quarter were MNOK 136.6 (-48.7).

Net result after tax in first half was MNOK -239.5 (-333.6) and in the second quarter was MNOK 53.7 (-134.4).

Ancillary revenue per passenger at the same level as last year.

The number of passengers in the second quarter was 4.04 mill. (+26%).

Unit cost was NOK 0.49 in first half and NOK 0.47 in the second quarter compared to NOK 0.49 in the first half last year and NOK 0.47 in the second quarter last year. Unit cost excluding fuel was NOK 0.35 in the first half and NOK 0.32 in the second quarter compared to NOK 0.37 in the first half last year and NOK 0.34 in the second quarter last year.

Cash and money market deposits of MNOK 1,219 (1,581) as of 30.06.11

Cash flow from operating activities in the second quarter was MNOK 275 (311)

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 261 routes to 100 destinations and employs approximately 2 500 people.

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

Norwegian second quarter - strong earnings improvement and over 4 million passengers

Norwegian carried more than 4 million passengers in the second quarter, 26 percent more than the same period last year. The turnover was just over 2.7 billion NOK, up 34 percent. The operating result for the second quarter was 137 million NOK, which is 185 million NOK better than last year, despite an extra fuel expense of 193 million NOK.

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.