Norwegian delivered a profit before tax (EBT) of NOK 2,050 million in the third
quarter of 2023, the second-best quarterly result in the 21-year history of the
company. Norwegian has had a very strong summer, both operationally and
financially, and also delivered best-in-class on punctuality and regularity in
Europe.

For the third quarter of 2023, Norwegian delivered an operating profit (EBIT) of
NOK 2,170 million, corresponding to an EBIT margin of 25 percent. This is the
highest operating profit in company history after the third quarter of 2019,
when the fleet was about twice as large. Profit before tax (EBT) amounted to NOK
2,050 million. The liquidity position increased to NOK 9.4 billion, while the
company also repaid the NAS13 bond as part of the ongoing process to ensure that
the company has a capital structure fit-for-purpose. At quarter-end, Norwegian's
fleet comprised 85 aircraft.

Norwegian had 6.5 million passengers in the quarter, up from 6.1 million
passengers in the third quarter of 2022. Production (ASK) was 10.4 billion seat
kilometres, while passenger traffic (RPK) was 9.1 billion seat kilometres.
Production was up 20 percent from the previous quarter as Norwegian ramped up
capacity into the summer, the busiest travel season of the year. The quarterly
load factor was 87.4 percent, compared to 88.8 percent in the same period last
year. 

Best-in-class on regularity and punctuality in Europe

Punctuality, share of flights departing on schedule, was 80.1 percent in the
quarter, up from 73.6 percent in the same period last year. Compiled monthly
data from Cirium, the global aviation consultancy, places Norwegian as one of
the top three most punctual airlines in Europe. Regularity, share of flights
taking place, was 99.6 percent, the highest regularity in close to two years.

"Thanks to the outstanding effort of the entire Norwegian team, we can look back
at one of the best quarters in our 21-year history. I am very satisfied that our
financial results are strong. We have also delivered an operational performance
as one of the absolute top airlines in Europe with a remarkably low number of
cancellations and strong on-time performance. Positive feedback from customers
shows that Norwegian is the airline they can trust, which is something everyone
at Norwegian has worked towards. We were also able to serve all customers the
Norwegian way, solely relying on our own crew and aircraft to ensure that they
got the Norwegian experience throughout the whole journey. I am confident that
we are well prepared to enter into the quieter winter trading period with
reduced capacity among other actions," said Geir Karlsen, CEO of Norwegian.

Well prepared for winter season and beyond

Norwegian's customers highly value the airline's strong punctuality and the
attractive and growing route network. The anticipated acquisition of Widerøe and
the launch of a joint platform for loyalty programmes with attractive partners
together with Strawberry will further ensure that Norwegian remains a preferred
travel partner throughout the Nordics.

"While many consumers are impacted by the current high inflation and interest
rates, our customers continue to prioritise air travel. Current ticket sales are
slightly reduced as expected in accordance with seasonality. Nevertheless, we
continue to attract an increasing number of Nordic travellers who wish to fly
with Norwegian, both for leisure and corporate purposes," said Karlsen.

For the summer of 2024, Norwegian plans to increase its fleet to approximately
90 aircraft. The initial summer schedule is now on sale, while additional routes
to new destinations will be announced later this month.



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, 2 November 2023
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 2 November 2023 at 07:00 CET.