Arendal, 10th October 2022: Norse Atlantic Airways expects load factor and yield
to increase across its network from October. Following the decision in September
to remove excess capacity on certain US routes and to operate Los Angeles routes
on a seasonal basis, Norse Atlantic Airways expects a positive increase in load
factors and an uplift in yield across its network during the winter months.

The company continues to have Power by the Hour lease agreements - meaning the
company only pays for an aircraft when it is flying - across the fleet
throughout the winter, which provides aircraft utilisation flexibility at no
cost. Norse has currently taken delivery of 13 of the 15 aircraft it has secured
on flexible, low cost, long-term lease arrangements, four of which are currently
subleased out, guaranteeing a fixed profit for the term of the sublease
agreements