Norwegian Air Shuttle (NAS) Investor presentation summary

Operational highlights

• Passenger numbers reached 14.9 million year-to-date, up 27% year-over-year, with a load factor of 85.1% and capacity growth of 12%.

• Achieved record strong July traffic, with a 10% higher capacity and unit revenue matching previous records, despite a Q2 load factor dip due to early Easter and longer average sector lengths.

• Maintained high punctuality and regularity, ranking among Europe's most punctual airlines.

Financial and competitive performance

• Q2 capacity increased 66% from the previous quarter and 19% year-over-year, with satisfactory revenue performance compared to peers.

• Unit revenue was impacted by network expansion and longer routes, but overall performance was on par or better than competitors.

• Group operating profit (EBIT) for FY 2024 is projected at NOK 2.1-2.6 billion, with unit costs (excluding fuel) expected to rise at a low single-digit percentage.

Strategic initiatives and growth

• Booking momentum remains strong, with over 400,000 more tickets sold year-over-year and diversified bookings across destinations.

• Growth is slowing in Q3 due to aircraft delivery delays, but summer 2025 fleet is estimated at 90+ aircraft, with partial compensation for delays.

• Focus on cost initiatives, including operational improvements, contract negotiations, and structural optimizations.