Press release - 12 April 2021 11:08

Norwegian's reconstruction in Norway receives court approval

The Oslo County Court, today approved Norwegian's reconstruction plan in Norway. Reaching this milestone means that both the group's reconstruction processes in Ireland and Norway have now been approved by the courts. The company will now prepare the process of raising new capital.

The court reached a positive conclusion after the creditors approved the Norwegian reorganization plan in a reconciliation period that ended on Friday 9 April.

“We are very pleased with this important positive decision by the court. Once we have passed these two biggest legal milestones we can look forward to continuing the work of raising new equity.” says Jacob Schram, CEO of Norwegian.

“I stand very proud of the achievements that Norwegian has accomplished throughout this period and I am grateful to work alongside so many colleagues that have shown such unwavering commitment and determination for us to succeed. At the same time, I wish to recognise the crucial support that we have received which has enabled us to continue our business.”

The rulings in both Ireland and Norway become final when the planned equity has been obtained. The capital raise is expected to be completed during the month of May.

For further information, see stock exchange announcement.

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About Norwegian

Norwegian was founded in 1993 but began operating as a low-cost carrier with Boeing 737 aircraft in 2002. Since then, our mission has been to offer affordable fares for all and to allow customers to travel the smart way by offering value and choice throughout their journey.

Norwegian has been voted Europe’s Best Low-Cost airline by Skytrax for six consecutive years and won Airline Program of the Year Europe & Africa at the Freddie Awards for four consecutive years. Since 2012, Norwegian has won over 55 awards for our service, product, and innovation in the industry.

We were the first airline in the world to join the UN Climate Secretariat’s climate action-initiative in 2019, pledging to work systematically to become carbon neutral by 2050.

Norwegian operates a short haul network across the Nordics and to key European destinations providing customers with excellent quality at affordable fares.

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.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.