Today, Norwegian reported its first quarter results of 2022. The results in the
seasonally weakest quarter of the year were also impacted by the omicron virus
and the war in Ukraine, resulting in an operating loss (EBIT) of NOK 849
million. The company has continued to safeguard its cash position at a high
level, NOK 7.5 billion, demonstrating the ability to adjust to market demand and
discipline in conserving liquidity.
 
In the first quarter of 2022, Norwegian had 2.2 million passengers, up from 0.2
million in the same period last year. Production (ASK) was 3.9 billion seat
kilometres, while passenger traffic (RPK) was 3.0 billion seat kilometres. The
load factor increased to 76.9 percent, up from 38.5 percent in the same period
last year. Despite the strong growth in available seats and the high number of
new routes through the quarter and into April, the company has maintained high
load factor levels and has improved earnings.

"We have adapted to fluctuations in demand quickly and efficiently, and we have
managed to protect our strong liquidity position even through a challenging
period. The increase in bookings ahead of the summer season is significant, and
we look forward to welcoming our customers on board the close to 280 routes we
have for sale. I am pleased to note that our corporate travellers are starting
to return to air travel. We know they place high value on our attractive route
network and strong on-time performance record," said Geir Karlsen, CEO of
Norwegian.

Punctuality, the share of flights departing on schedule, was 88.1 percent in the
first quarter of 2022, up from 87.8 percent in the previous quarter.

During the quarter, Norwegian announced an agreement to lease 10 new and
fuel-efficient 737 MAX 8 aircraft with delivery in the spring of 2023. In
addition, Norwegian is in the process of leasing an additional five 737 MAX 8
aircraft, which will bring the fleet to 85 aircraft by the summer 2023 season.

For detailed information, please see attached report and presentation.


For further information, please contact: 
Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47
906 64 401


Fornebu, 13 May 2022
Norwegian Air Shuttle ASA


This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Jesper M. Hatletveit, VP Investor Relations at
Norwegian Air Shuttle ASA, on 13 May 2022 at 07:00 CEST.