Increased passenger traffic in a slowing economy

“We are satisfied with the traffic growth as we carried close to 670 000 passengers through our network in February, and had a stable load factor. Despite the current economic environment, Norwegian is reporting growth in passenger traffic,” says CEO Bjorn Kjos. He adds the fact that February 2009 had one day less of operations than last year as 2008 was a leap year.

“Our Swedish operation has gone through a major restructuring the last months and it is satisfying to see that the load factor has increased 6 percentage points to 78 per cent,” says Kjos.

norwegian.no
The total number of passengers flown in February 2009 was 568 975 compared to 538 620 last year, an increase of 30 355 passengers (6 %), and a 14 % increase in passenger traffic.

• Total passenger traffic (RPK) increased by 14 %, compared to last year
• Total capacity (ASK) increased by 15 %, compared to last year
• The cabin factor was 78 %, which is equivalent to the same period last year
• The company estimates a yield around NOK 0.64 for February 2009 (+8 %)

The increase in passenger traffic, production and passengers is related to the company’s expansion in established markets and to the introduction of new routes from March 2008 to February 2009, as well as adjustments in production capacity and a steady increase in passengers.

Domestic passenger traffic increased by 28 % and capacity increased by 33 %, resulting in a cabin factor of 74 % which is a decrease of 3 pp compared to the same period last year. The growth is a result of shifting capacity toward new routes in the domestic market.

International passenger traffic increased by 9 % and capacity increased by 8 %, giving a cabin factor of 80 %, which is an increase of 1 percentage point compared to the same period last year. The operation in Poland performs according to plan.

The new base in Copenhagen accounted for approximately 3 % of Norwegian.no’s total production in February.

The yield is estimated at NOK 0.64 for the period (+ 8 %). The average flying distance was equivalent to last year. Internet sales accounted for 87 % of tickets sold in February.
norwegian.se

The total number of passengers flown in February 2009 was 100 494 compared to 122 743 last year, a decrease of 22 249 passengers (- 18 %). Passenger traffic (RPK) increased by 37 % during the same period.

• Total passenger traffic (RPK) increased by 37 %, compared to last year.
• Total capacity (ASK) increased by 27 %, compared to last year.
• The cabin factor was 78 %, which is an increase of 6 percentage points compared to the same period last year.
• The company estimates a yield around NOK 0.47 for February 2009.

The yield is estimated at NOK 0.47 for the period (-35 %). The development in yield and cabin factor is to a large extent due to changes in the route portfolio, with new routes and 51 % longer average flying distance. Internet sales accounted for 92 % of tickets sold in February.

Contacts:
SVP Corporate Communications Anne-Sissel Skånvik, tel +47 48 99 44 40
CFO Frode Foss, tel + 47 91 63 16 45