Norwegian Air Shuttle Asa · OSL:NAS

Norwegian Air Shuttle Asa — Q3 2009 Earnings Presentation

8 slides from Norwegian Air Shuttle Asa's earnings presentation, October 2009

  1. Slide 1: Norwegian Air Shuttle ASA 3rd Quarter Presentation

    Norwegian Air Shuttle ASA 3rd Quarter Presentation Oslo – Stockholm – London October 22nd – 27th 2009 Bjø Bjørn Kjos – CEO • Group revenues of MNOK 2,271 in Q3 2009, 15 % growth since last year – Domestic Revenue: MNOK 781 (+ 27%) – International Revenue: MNOK 1,491 (+ 10%) MNOK 2,500 + 15% 2,000 1,

  2. Slide 2: EBITDAR and EBITDA improved; cash flow in Q3 2009

    • EBITDAR MNOK 669 - improved by MNOK 348 • EBITDA MNOK 515 - improved by MNOK 286 • EBT MNOK 519 – reduced by MNOK 62 (due to last year’s hedge effect of MNOK 388) • Net profit MNOK 375 – reduced by MNOK 40 (due to last year’s hedge effect of MNOK 388) EBITDAR development Q3-09 EBITDA development Q

  3. Slide 3: 82% load factor in Q3 09 and production growth of 11%

    # $$ % • 82 % load factor in Q3 09 – unchanged from last year • Production growth of 11 % (ASK) ASK 4,500 100 % (mill) 4,000 86 % 90 % 85 % 82 % 82 % 80 % 3,500 70 % 3,000 60 % 2,500 ASK (mill) 50 % Load Factor 2,000 40 % 1,500 30 % 1,000 20 % 500 10 % 0 0% Q3 06 Q3 07 Q3 08 Q3 09 ASK (mill) 1694 2,

  4. Slide 4: Passenger development at Oslo Airport and market share

    # & ) OSL All Carriers OSL Only Norwegian • - 8 % on a 12 month rolling basis • + 15 % on a 12 month rolling basis Total Pax OSL Norw egian Pax OSL Passengers Passengers 6,000,000 1,800,000 + 15% 1,700,000 5,500,000 1,600,000 1,500,000 5,000,000 - 6% 1,400,000 4,500,000 1,300,000 1,200,000 4,000,000

  5. Slide 5: Unit cost of 0.44 in Q3 and ancillary revenue

    - ( % • Unit cost of 0.44 in Q3 – Down 9 % since last year • Unit cost ex. fuel was 0.32 – Up 8 % since last year due to: – Negative currency effects (leasing, handling, airport charges, technical exp) • USD/NOK + 14 % (MNOK 35) • EUR/NOK + 8 % (MNOK 25) – 6 % shorter average flying distance NOK 0.5

  6. Slide 6: Norwegian has exercised purchase rights; fleet and outlook

    . / 0!.. 1 ".$2 3 0!.. • Norwegian has exercised 6 purchase rights – 2010: 2 fall – 2011: 4 spring • The last MD-80 retired from the fleet on 15 October 2009 • Year-end fleet of 45 aircraft – 17 Boeing 737-800 – 28 Boeing 737-300 # of 60 58 aircraft 53 50 22 45 22 22 22 40 19 22 22 40 6 14 20 5 10 1

  7. Slide 7: Expected production growth and unit cost

    45 ".$. • The company expects a production growth (ASK) of 30% – Primarily by replacing Boeing 737-300s with Boeing 737-800s – Capacity adjustments depending on development in the overall economy and marketplace • Unit cost expected in the area 0.49 – 0.50 – Fuel price dependent – USD 850 pr ton – C

  8. Slide 8: Norwegian Air Shuttle ASA

    Norwegian Air Shuttle ASA Mailing address P.O. Box 113 No – 1330 Fornebu Visiting address Oksenøyveien 10A Telephone +47 67 59 30 00 Telefax +47 67 59 30 01 Internet www.norwegian.com Organization number NO 965 920 358 MVA

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