Norwegian Air Shuttle Asa · OSL:NAS
Norwegian Air Shuttle Asa — Investor Presentation (March 2026)
17 slides from Norwegian Air Shuttle Asa's investor presentation, March 2026
Slide 1: Norwegian Air Shuttle ASA Investor Presentation
Norwegian Air Shuttle ASA Investor Presentation March 2026
Slide 2: Norwegian & market conditions
Norwegian & market conditions
Slide 3: Strategy delivering strong financial growth since 2021
Fleet Expansion (AC#) Strong Passenger Growth (PAXm) Strategy delivering strong financial growth since 2021 Sustained Revenue Growth* (NOKbn) Improved profitability* (EBIT NOKbn) *) Widerøe revenue including group eliminations
Slide 4: Full-year 2025
Full-year 2025 27.3 million (+3.1% YoY) Passengers in 2025 (group) Load factor (chg. YoY) Load factor (chg. YoY) Punctuality (chg. YoY) Punctuality (chg. YoY) 37.6 2.15 82.1% 86.3% (+4 p.p.) (+1 p.p.) billion seat Regularity (chg. YoY) Regularity (chg. YoY) billion seat kilometres (+3% YoY) kilometr
Slide 5: Norwegian Airline Group and Widerøe: bases and offices
Norwegian Airline Group 370 routes 23.1 mil 100 routes 4.0 mil passengers passengers Our bases 128 destinations 5,200 50 destinations 3,700 and offices employees employees 95 aircraft 51 aircraft
Slide 6: Extensive European Network
Extensive European Network tty ° Santorini peed Dubai's
Slide 7: Norwegian – optimising capacity during winter
Norwegian – optimising capacity during winter Norwegian Traffic – PAX per month, load factor and yield 92.3% Capacity reduced in winter season 90.0 % 4,000 1.09 89.5% • adjusting to seasonal variations in demand 87.2% 1.0 8 86.5% 85.9% 85.4% 85.8% 3,50 0 84.7% 0.98 84.8% Q4 with improved performance
Slide 8: Sales volumes increasing post Iran attack and jet fuel spike
Sales volumes increasing post Iran attack and jet fuel spike 7-day rolling sales figures (revenue) – All markets*) Increased sales post Iran attacks • recording highest sales figures to date – both for booked passengers and revenue • Western Europe leisure destinations especially popular – reduced s
Slide 9: What Widerøe brings to the Group
What Widerøe brings to the Synergies Corporate two ways Travel Group Operational synergies A unified corporate Interlining growth offering, improved (+30% LTM) connectivity, and joint distribution Passenger Enhanced Experience Competitiveness Seamless travel Increasing market share experience, incre
Slide 10: Well positioned for the next years
Well positioned for the next years
Slide 11: Fleet: Secured for summer 2026
Fleet: Start of aircraft delivery from direct order • first of 80 ordered Boeing 737 MAX 8 aircraft delivered in October – latest technology aircraft with more than 14% reduction in fuel burn Secured for • fleet set for summer 2026 – one more aircraft for delivery due this spring summer 2026 Fleet o
Slide 12: Spenn – the loyalty currency platform
- the loyalty currency platform Spenn – the loyalty currency combining simplicity & choice • earn and burn points across programs • multi-partner loyalty currency with more than 100 partners across the Nordics • Widerøe joined Spenn from October • brand awareness 48% in Norway Leading retailer Reita
Slide 13: Program X – building on improvements realised in 2025
Program X – building on improvements realised in 2025 Profitability improvements (NOK million) Ongoing initiatives on track for 2026 – realised and forecasted – recurring only c. 900 >1,250 recurring effects non-recurring effects Program X to deliver by year-end 2026: • underlying recurring profit i
Slide 14: Outlook
Outlook FY 2026 Q1 Q2 Q3 Q4 Capacity growth*) c. 3% c. -5% c. 6% c. 5% c. 2% FY 2026 Low single-digit % increase Norwegian underlying unit cost excl. fuel**) vs. prior year $ *) available seat kilometres (ASK) for Norwegian vs. same period previous year **) vs. 2025 assuming current foreign exchange
Slide 15: Strong Performance & Future Growth – Well positioned towards 2030
Strong Performance & Future Growth Well positioned towards 2030..... Market Leadership Program X Continue to grow market share, - Operational Excellence passenger numbers, and corporate Continue improving performance with travel presence. high punctuality and regularity. High focus on costs. Strateg
Slide 16: norwegian x
norwegian x
Slide 17: Disclaimer
Disclaimer Certain statements included in this presentation contain forward-looking statements, such as statements of future expectations. Although the statements p ovid d a bas d on th b st asonabl ass ptions of anag nt of No w gian Ai h ttl A A (“No w gian”), th stat nts are based on a number of a
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