Norse Atlantic Asa · OSL:NORSE
Norse Atlantic Asa — Corporate Update (July 2024)
12 slides from Norse Atlantic Asa's corporate update, Jul 2, 2024
Slide 1: Norse Atlantic Airways Investor Update
Norse Atlantic Airways Investor Update 2 July 2024
Slide 2: Disclaimer
Disclaimer This presentation and its appendices (the "Presentation") has been produced by Norse Atlantic ASA (the "Company", and together with its direct and indirect subsidiaries, the "Group"). This Presentation has been prepared for information purposes only and should be seen in conjunction with
Slide 3: Agenda
Agenda Strategic Process Q2 Operations Business Outlook 2024 and 2025
Slide 4: Strategic Process – one advanced discussion is discontinued
Strategic Process Strategic Process – one advanced discussion is discontinued • Investment banker appointed and multiple discussions have been entertained since late 2023 • One strategic investment option was in advanced stage of discussions but ended with no formal agreement reached. Market update
Slide 5: Significant growth and improved load factor in June
Q2 operations Significant growth and improved load factor in June Norse Atlantic Airways Traffic figures June 2024 Load Factor ASK (millions) Key figures 85% 1,481 June 2024 2 p.p. 95% *compared year on year • June traffic figures reflects a major increase in RPK (millions) Flights capacity year-ove
Slide 6: Capacity and load factors increased year-over-year for each month
Q2 operations Capacity and load factors increased year-over-year for each month Million kilometers • Each of the last months has shown significant improvement in traffic figures compared to previous year • Capacity (million ASK) is up 105% from Q2’23 to Q2’24 while passengers (million RPK) is up 122
Slide 7: Revenue per passenger is lower than expected driven by supply side growth until June
Q2 operations Revenue per passenger is lower than expected driven by supply side growth until June, levelling off from July Europe-North America Fares Year-over-year market capacity growth2 weighted average booking window1 40% Air France KLM LHA SWISS BA Iberia 14% 30% 12% 10% 20% 8% 10% 6% 0% 4% 2%
Slide 8: Bookings are made closer to departure date than last year
Q2 operations Bookings are made closer to departure date than last year LF build by month (capacity) • Bookings for summer have been satisfactory compared to last year, however later bookings this summer • Bookings closer to travel date in turn translating into later cash inflows from sales Graph: L
Slide 9: Summary Q2 and beyond
Q2 operations Summary Q2 and beyond • Q2 below expectations due to lower-than-expected fare levels • High load factors and strong ancillary revenues • Good cost control – costs as budgeted • Tail-heavy summer bookings curve puts pressure on August cash position while awaiting credit card receivables
Slide 10: Business Outlook 2024 and 2025
Business outlook 2024 and 2025 Business Outlook 2024 and 2025 2024 2025 Overall • New tech team to uplift revenue through website and pricing • Capacity grown to 12 aircraft • Capacity grows to 15 aircraft optimization in own operation in own operation • Adding more distribution channels, • Deliver
Slide 11: Key Operational Numbers
Key Operational Numbers Monthly break-down over last five quarters Apr23 May23 Jun23 Jul23 Aug23 Sep23 Oct23 Nov23 Dec23 Jan24 Feb24 Mar24 Apr24 May24 Jun24 Number of aircraft 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 in fleet Number of aircraft 5 5 5 5 5 5 5 5 5 5 5 4 4 3 3 subleased out ASK (mi
Slide 12: Contact
Contact: Investors: investor.relations@flynorse.com Media: media@flynorse.com