Norwegian March traffic figures heavily influenced by COVID-19 measures

The global outbreak of COVID-19 that took hold across the aviation industry
throughout March has heavily influenced Norwegian´s traffic figures. The company
experienced a dramatic drop in demand following government-imposed travel
restrictions and a general travel decline.

Norwegian immediately responded to this global change in demand and adapted its
flight schedule several times during the month. The first step was to cut
approximately 15 percent of planned capacity on March 10, this was then
reevaluated and adjusted to up to 85 percent of planned capacity from March 16
with most cancellations starting from March 25. Capacity was 40 percent lower
than planned while the flights that were operated had a load factor of 72
percent, down 13.8 percentage pints compared to the same month previous year.

Compared to the same period last year total capacity (ASK) decreased by 53
percent while total passenger traffic (RPK) decreased by 60 percent. The total
number of customers carried in March was 1,153,283, a decrease of 61 percent. 

In March, Norwegian operated 77 percent of scheduled flights, multiple rescue
flights and continued to maintain a critical regional flying infrastructure.

Jacob Schram, CEO of Norwegian, said: "The speed of the COVID-19 global outbreak
throughout March had a profound impact on the entire Norwegian network as
cancellations, in line with global travel advice and falling demand, were
implemented throughout the month. Norwegian operated multiple rescue flights on
behalf of the government to ensure that thousands of Scandinavian passengers
could safely return home. I would like to take this opportunity to thank all our
dedicated colleagues, our customers and members of the public for their
continued support. We will provide further financial and business updates to the
Oslo Børs when it is appropriate to do so."

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© Oslo Bors ASA, source Oslo Stock Exchange