Stock market news
Notices to the Oslo Stock Exchange which are issued under the duty of disclosure. Norwegian Air Shuttle ASA issues all notices under the ticker NAS.
2023
In December, Norwegian had more than 1.3 million passengers, an increase of 41 percent compared to December 2021. During 2022 Norwegian had 18 million passengers. Solid operations during the holiday travel season concluded a positive year marked by a tripling of passenger numbers, a return of high demand for air travel and continued positive booking trends.
“We are delighted to see that an increasing number of Nordic passengers choose Norwegian as their preferred airline when travelling to see friends and family during the busy holiday season that this month brings. On domestic travels in Norway, passenger numbers are now on par with pre-pandemic levels. Despite challenging weather on many of the busiest travel days that affected aviation both in the Nordics and in Europe, we managed to take passengers to their Christmas destinations. More than nine out of ten flights arrived on time or within one hour of their scheduled arrival time,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 1,315,924 passengers in December, up 41 percent from December 2021. The load factor in December was 77.8 percent. The capacity (ASK) was 2,120 million seat kilometres, while actual passenger traffic (RPK) was 1,650 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.50, while unit revenue including flight related ancillary revenue is estimated at NOK 0.61. In December, Norwegian operated an average of 64 aircraft and 99.0 percent of the scheduled flights were completed. Punctuality, as measured by the number of flights departing within 15 minutes of scheduled time, was at 71.6 percent in December, mainly due to challenging weather conditions at several European airports.
In 2022 Norwegian had close to 18 million passengers, triple the number of passengers from the previous year. The load factor was 83.1 percent for the year. Thanks to the company's solid financial situation, Norwegian is now able to hedge jet fuel for both 2023 and 2024. Current fuel hedges, which run through 2023, are struck at levels below today’s spot price.
New Year’s sale exceeding expectations “All in all, 2022 has been a very good year for Norwegian. A strong pent-up demand for air travel, particularly for beach destinations during the peak leisure season, resulting in a record busy summer. We continue to experience positive booking trends and ticket sales are currently exceeding our expectations. Our customers have responded very positively to our New Year's sale and are taking advantage of the campaign to plan this year’s travels, both short and long term,” said Karlsen.
See detailed traffic figures in the attached PDF.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 5 January 2023 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 5 January 2023 at 08:00 CET.
2022
Primary insider Hans-Jørgen Wibstad, Chief Financial Officer (CFO) at Norwegian Air Shuttle ASA, has today purchased 25,000 shares at a price of NOK 7.30 per share. Following the transaction, Mr Wibstad holds 70,000 shares in the company.
Fornebu, 29 December 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
Board member Chris Browne has informed the Board of Directors of Norwegian that she will resign from the board with effect from 31 December 2022 due to personal reasons.
“On behalf of the board, I would like to express our appreciation to Ms. Browne for her valuable contribution during a pivotal period for the company”, says Svein Harald Øygard, Chair of the board of Norwegian.
The nomination committee has initiated a search for a new board member of Norwegian.
Fornebu, 28 December 2022 Norwegian Air Shuttle ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Reference is made to stock exchange announcement dated 24 September 2021 in which Norwegian Air Shuttle ASA (“Norwegian”) announced that it would seek legal clarification regarding its EU ETS obligations under reconstruction.
Norwegian has been notified that the Ministry of Climate and Environment has maintained that Norwegian is liable to pay a fee for the failure to meet its EU ETS obligations for 2020, in a period when the company was under reconstruction. Norwegian still disputes the fee, and will seek judicial review in the Norwegian courts. Norwegian will also seek suspension of payment until the matter has been finally determined.
According to the Norwegian Reconstructor and the Irish Examiner, the company was prevented from fulfilling its EU ETS obligations. When Norwegian was informed about the fee in 2021, the Reconstructor in Norway, Håvard Wiker, was in dialogue with both the Norwegian Environmental Agency and the Attorney General of Civil Affairs. In this dialogue it was clarified that Norwegian was under reconstruction and was unable to fulfill its EU ETS obligations, and that doing so could entail criminal liabilities. In the parallel Irish examinership process, the Irish High Court ruled that EU ETS’ obligations are subject to cram down. Also, the Irish environmental authorities chose to not impose fee on Norwegians’ Irish subsidiary, Norwegian Air International Limited, despite its failure to meet its EU ETS obligations for 2020.
The fee is close to NOK 400 million.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Norwegian Air Shuttle ASA Fornebu, 16 December 2022
In November, Norwegian had 1.4 million passengers, an increase of 37 percent compared to November last year. The load factor was 79.5 percent and routes to beach destinations in Southern Europe were particularly popular with a load factor of close to 90 percent from Norway.
“We are satisfied with this month’s traffic numbers and associated top-line, and glad to see that a total of 1.4 million passengers chose to travel with us. While we are now in the low-season, demand for air travel continues to be persistent, particularly to our many popular beach destinations. In November, the load factor on routes to sunnier destinations was close to 90 percent from Norway. I am particularly delighted about this month’s punctuality, proving to be the best so far this year and a result of the efforts of our many dedicated colleagues who are doing their utmost to serve our customers every day,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 1,374,828 passengers in November, up 37 percent from November last year. The load factor in November was 79.5 percent. The capacity (ASK) was 2,122 million seat kilometres, while actual passenger traffic (RPK) was 1,686 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.49, while unit revenue including flight related ancillary revenue is estimated at NOK 0.59. In November, Norwegian operated an average of 64 aircraft and 99.7 percent of the scheduled flights were completed. Punctuality, as measured by the number of flights departing within 15 minutes of scheduled time, was at 90.3 percent in November.
Continued solid demand for air travel “We are well positioned to respond to seasonal variations. We have adjusted our capacity to meet the lower demand during the winter season and have hedged a total of 15 percent of our estimated fuel consumption for 2023. Looking ahead, we continue to see a pent-up demand for air travel, especially to sunny beach destinations. We recently launched several new routes to destinations across Europe, and we are eager to welcome both passengers and new colleagues during what we expect to be a busy summer of 2023,” said Karlsen.
Norwegian is Norway’s largest airline and one of Europe’s leading low-cost carriers. Norwegian has 4,000 employees and is increasing its staff with additionally 750 employees across the company’s bases in the Nordics and in Europe for the summer of 2023. For the summer of 2023, Norwegian plans for a fleet increasing to 85 aircraft. This will allow Norwegian to offer more departures on the most popular routes, giving the customers even more flexibility as they plan their travels. Norwegian currently has 239 routes for sale in the summer period, running from March to October 2023.
See detailed traffic figures in the attached PDF.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 6 December 2022 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 6 December 2022 at 08:00 CEST.
The following primary insiders have today purchased shares in the company:
Mr Lars Boilesen, Board member, has today purchased 10,000 shares at a price of NOK 8.32 per share. Following the transaction, Mr Boilesen holds 578,424 shares in the company.
Mrs Ingrid Elvira Leisner, Board member, has through Duo Jag AS purchased 10,000 shares at a price of NOK 8.38 per share. Following the transaction, Mrs Leisner and related parties hold 22,927 shares in the company.
Ms Chris Browne, Board member, has today purchased 6,900 shares at a price of NOK 8.4785 per share. Following the transaction, Ms Browne holds 16,402 shares in the company.
Please see attached notifications for persons discharging managerial responsibilities in accordance with Regulation EU 596/2014 (MAR) article 19 and section 5-12 of the Norwegian Securities Trading Act.
Fornebu, 17 November 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
In October, Norwegian had 1.9 million passengers and delivered a load factor of 86 percent. October proved to be an active month for travels, both on domestic routes and to popular beach destinations.
“We are satisfied with delivering yet another strong month in terms of traffic figures. Our passengers particularly appreciated the routes to our many popular holiday destinations. For instance, more than half a million Nordic travellers chose to fly with Norwegian to the Mediterranean. This shows that we have a product offering that our customers highly appreciate,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 1,885,606 passengers in October, up 57 percent from October last year. The load factor in October was 85.8 percent. The capacity (ASK) was 2,703 million seat kilometres, while actual passenger traffic (RPK) was 2,319 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.61, while unit revenue including flight related ancillary revenue is estimated at NOK 0.72. In October, Norwegian operated an average of 67 aircraft and 99.4 percent of the scheduled flights were completed. Punctuality, as measured by the number of flights departing within 15 minutes of scheduled time, was at 84.2 percent in October.
“Given the current macroeconomic environment, we acknowledge that demand will slow down in the winter season ahead. Thanks to good collaboration with colleagues and unions as well as flexible leasing terms, Norwegian is well positioned to tackle this quieter period. In addition, we are confident that our product offering fits well with our travellers’ preferences and that this will contribute positively to capturing market share,” said Karlsen.
On domestic routes in Norway, business and leisure travellers now benefit from additional choice, flexibility and seamless travel as a result of the co-operation between Norwegian and Widerøe. Norwegian is currently recruiting 700 new colleagues for the summer 2023 season when Norwegian will offer both new routes and increased frequencies to attractive destinations.
See detailed traffic figures in the attached PDF.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 4 November 2022 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 4 November 2022 at 08:00 CEST.
On 27 October 2022, a total of 152,294 shares were purchased on behalf of employees in Norwegian Air Shuttle participating in the company's Employee Share Savings Plan. The average purchase price was NOK 8.3926 per share.
On behalf of primary insider Eric Holm, the company has purchased 534 shares. The new holding is 2,893 shares.
On behalf of primary insider Magnus Thome Maursund, the company has purchased 534 shares. The new holding is 2,634 shares.
On behalf of primary insider Geir Olav Øien, the company has purchased 535 shares. The new holding is 4,935 shares.
Please see attached notifications for persons discharging managerial responsibilities in accordance with Regulation EU 596/2014 (MAR) article 19 and section 5-12 of the Norwegian Securities Trading Act.
Fornebu, 27 October 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
Financial calendar for Norwegian Air Shuttle ASA
FINANCIAL YEAR 2022
16.02.2023 - Quarterly Report - Q4
FINANCIAL YEAR 2023
24.08.2023 - Half-yearly Report 27.04.2023 - Annual Report 23.05.2023 - Annual General Meeting
12.05.2023 - Quarterly Report - Q1 02.11.2023 - Quarterly Report - Q3
This information is published pursuant to the requirements set out in the Continuing obligations.
Norwegian reported its results today for the third quarter of 2022. The figures demonstrate Norwegian’s ability to deliver robust financial results and strong operations in the busiest travel season of the year. Business travel has picked up after the summer, and travellers in this segment are now back to 2019 levels on the most popular domestic routes in Norway.
Operating profit (EBIT) in the third quarter amounted to NOK 1,032 million, impacted positively by record-high unit revenue for the company, but negatively by the high fuel price and strong USD this quarter. Profit before tax (EBT) amounted to NOK 910 million. Continued liquidity discipline led the company to improve its cash position to NOK 8.2 billion. At quarter-end, Norwegian’s fleet comprised 69 aircraft.
Many customers have longed to travel to Norwegian’s holiday destinations, creating strong pent-up demand for the peak summer travel season and the third quarter as a whole. The load factor in July was close to 95 percent, the highest in many years, while the quarterly unit revenue reached a historic high. Norwegian had over 6 million passengers in the third quarter, and despite record-high congestion and industry challenges across European airports, nearly all scheduled flights were operated.
“This quarter has demonstrated that we are the reliable Nordic option for customers travelling on their holidays, to visit friends and family, or for business purposes. Many corporate customers choose to fly with Norwegian, and the number of business travellers is now on par with pre-pandemic levels for our most popular domestic business routes. Demand is expected to soften as we enter the winter trading period, but Norwegian is well prepared for this through flexible fleet arrangements, rigorous route planning and sound collaboration with our colleagues and unions,” said Geir Karlsen, CEO of Norwegian.
The co-operation agreement between Norwegian and Widerøe was finalised in September and will provide corporate and leisure travellers with additional choice and flexibility. Under this agreement the two companies will co-operate on key strategic initiatives, including ticket sales, enabling passengers to travel seamlessly across the entire route network of both airlines.
On 1 September, Norwegian celebrated its 20-year anniversary. The first Boeing 737 took off in 2002, marking the start of affordable flying in Norway. Since then, Norwegian has expanded to new markets, carried more than 300 million passengers, and received more than 60 awards and recognitions. In September, Skytrax named Norwegian the ‘Best Low-Cost Airline in Northern Europe’. At the Danish Travel Awards in October, the airline was voted ‘Best European Airline’.
In the third quarter of 2022, Norwegian carried 6.1 million passengers, up from 2.5 million in the third quarter of 2021 and 5.0 million passengers in the previous quarter. Production (ASK) was 8.9 billion, while passenger traffic (RPK) was 7.9 billion. The load factor increased to 88.8 percent, up from 73.1 percent in the same period last year and 81.2 percent in the previous quarter.
Regularity, share of flights taking place, was unchanged from the previous quarter at a solid 99.4 percent. Punctuality continued to be heavily impacted by capacity constraints at European airports but showed signs of improvement towards the end of the quarter. Share of flights departing on schedule was 73.6 percent, compared to 91.0 in the same period last year and 78.8 percent in the previous quarter.
Well prepared for winter season and solid positioning for 2023 “While demand for air travel may be impacted by the current macro-economic and geopolitical uncertainty, booking trends remain encouraging with an increasing number of passengers choosing to fly with Norwegian”, said Karlsen.
For the upcoming winter months, Norwegian will utilise the flexible lease agreements by reducing capacity by approximately 25 percent. For the summer of 2023, Norwegian plans for a fleet increasing to 85 aircraft. The summer schedule was recently released with an extended offering to popular city and beach destinations across Europe. With its strong operational performance and not least a growing and attractive route network that is well received by customers, Norwegian is ready to further strengthen its position as a leading Nordic airline.
For detailed information, please see attached report and presentation.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 26 October 2022 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 26 October 2022 at 07:00 CEST.
Norwegian will release the financial results for the third quarter of 2022 on Wednesday 26 October 2022. The report and presentation will be made available at 7:00 CEST at www.norwegian.no/om-oss/selskapet/investor-relations/ and on newsweb. The Company will present the results at 8:30 CEST at Felix Conference Center, Bryggetorget 3, Aker Brygge, Oslo. The presentation will be held by CEO Geir Karlsen and CFO Hans-Jørgen Wibstad.
A live webcast will be available at www.norwegian.no/om-oss/selskapet/investor-relations/.
In addition to questions from the audience, we will open up for questions sent to investor.relations@norwegian.com with subject "Question Q3 presentation". Please note that questions from the audience will be prioritised in the event of time constraints.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Norwegian Air Shuttle ASA Fornebu, 20 October 2022
Folketrygdfondet har i dag, 18.10.2022 lånt ut 624.869 aksjer i Norwegian Air Shuttle. Etter utlånet har Folketrygdfondet netto 46.026.929 aksjer, tilsvarende 4,95 % aksjer i selskapet.
In September, Norwegian had 1.9 million passengers and delivered a load factor above 85 percent.
“September was another busy month for travel within, to and from the Nordics. Going into the autumn holiday season, we notice a particularly high demand for international destinations, both cities and beaches. Nordic passengers continue to have a strong urge to travel abroad. We are also delighted to see that the corporate market is returning after the summer season. The number of corporate travellers is now on par with pre-pandemic levels for our most frequented domestic business routes in Norway,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 1,873,850 passengers in September, compared to 977,719 in September 2021. The load factor in September was 85.2 percent. The capacity (ASK) was 2,618 million seat kilometres, while actual passenger traffic (RPK) was 2,230 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.56, while unit revenue including flight related ancillary revenue is estimated at NOK 0.68. In September, Norwegian operated an average of 67 aircraft and 98.9 percent of the scheduled flights were completed. Punctuality, as measured by the number of flights departing within 15 minutes of scheduled time, was at 80.1 percent in September. However, 95 percent of all departed flights arrived on schedule or within one hour of the scheduled arrival time.
“We expect demand to soften into the winter season. Norwegian is well prepared to tackle this quieter period by rigorous route planning, flexible leasing terms through power-by-the-hour (PBH) agreements as well as sound agreements with our unions. We recently released our summer 2023 schedule with an improved offering to popular city and beach destinations across Europe. This means that we are currently recruiting 700 new colleagues across all our bases,” said Geir Karlsen, CEO of Norwegian.
In September, Norwegian and Widerøe finalised their cooperation agreement on Norwegian domestic routes which will provide travellers with additional choice and flexibility. Norwegian’s recently released summer schedule will also allow for more departures on the most popular routes and provide customers with an increasing number of destinations.
See detailed traffic figures in the attached PDF.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 6 October 2022 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 6 October 2022 at 08:00 CEST.
Reference is made to the stock exchange announcement on 25 May 2022 regarding the Annual General Meeting where it was resolved to grant the Board of Directors an authorisation to issue shares in connection with the company’s incentive programs. On 30 September 2022, the grant date, executives in Norwegian were granted a total of 2,499,996 share options in Norwegian Air shuttle ASA (NAS) with a strike price of NOK 13.50 per share. The share options were granted as follows:
Geir Karlsen, Chief Executive Officer (CEO), has been granted 792,548 share options. Following the grant, Karlsen holds 1,797,548 options and 651,478 shares in NAS.
Hans-Jørgen Wibstad, Chief Financial Officer (CFO), has been granted 422,692 share options. Following the grant, Wibstad holds 422,692 options and 45,000 shares in NAS.
Magnus Thome Maursund, EVP Network, Pricing and Optimisation, has been granted 184,927 share options. Following the grant, Thome Maursund holds 184,927 options and 2,100 shares in NAS.
Adrian Dunne, EVP Operations, has been granted 268,536 share options. Following the grant, Dunne holds 268,536 options and 243,019 shares in NAS.
Tore Kristian Jenssen, SVP Arctic Aviation Assets, has been granted 190,211 share options. Following the grant, Jenssen holds 191,911 options and zero shares in NAS.
Knut Olav Irgens Høeg, EVP IT and Business Services, has been granted 162,032 share options. Following the grant, Irgens Høeg holds 162,032 options and 239,846 shares in NAS.
Christoffer Sundby, EVP Sales, Marketing and Customer Care, has been granted 232,480 share options. Following the grant, Sundby holds 232,480 options and 335,943 shares in NAS.
Guro H. Poulsen, EVP People, has been granted 140,897 share options. Following the grant, Poulsen holds 140,897 options and 236,808 shares in NAS.
Anne-Sissel Skånvik, EVP Communication and Public Affairs, has been granted 105,673 share options. Following the grant, Skånvik holds 106,373 options and 50,095 shares in NAS.
The granted share options vests one-third each anniversary from the grant date and vested options may be exercised until expiry seven years following the grant. Each share option corresponds to one share and the strike price is NOK 13.50 per share.
Please see attached notifications for persons discharging managerial responsibilities in accordance with Regulation EU 596/2014 (MAR) article 19 and section 5-12 of the Norwegian Securities Trading Act.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA: +47 906 64 401
Fornebu, 30 September 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
In the final weeks of the summer holidays Norwegian flew two million passengers to their destinations. Regularity was almost 100 percent, and the load factor was close to 86 percent.
“August marks the end of summer and the month marked another strong performance for Norwegian. We operated our planned programme and flew close to all scheduled flights. We are particularly happy that bookings into autumn are encouraging and that business travellers are returning”, said Geir Karlsen, CEO of Norwegian.
Norwegian flew 1,996,211 passengers in August, compared to 790,220 in August 2021. The load factor in August was 85.5 percent. The capacity (ASK) was 2,998 million seat kilometres, while actual passenger traffic (RPK) was 2,563 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.57, while unit revenue including flight related ancillary revenue is estimated at NOK 0.68. In August, Norwegian operated an average of 69 aircraft and 99.7 percent of scheduled flights were completed. Punctuality, as measured by the number of flights departing within 15 minutes of scheduled time, was at 63 percent in August. However, as many as 96,5 percent of all flights arrived on schedule or no more than an hour late.
“The congestion at European airports has begun to improve, which is positive for our operations but also, importantly, to the travel experience of our customers. It is uplifting for the industry in general that we are continuing to return to normal operations after these extraordinary years for aviation,” said Geir Karlsen, CEO of Norwegian.
In August, Norwegian opened a new direct route between Trondheim and Manchester. Towards the end of August and into September, the company celebrated its 20th anniversary and launched a sale for flights this coming autumn and winter season.
See detailed traffic figures in the attached PDF.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 6 September 2022 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 6 September 2022 at 08:00 CEST.
Primary insider Svein Harald Øygard, Chair of the Board of Norwegian Air Shuttle ASA, has today purchased 200,000 shares at a price of NOK 7.78 per share. Following the transaction, Mr Øygard owns 1,834,281 shares in the company.
Fornebu, 1 September 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
On 26 August 2022, a total of 136,990 shares were purchased on behalf of employees in Norwegian Air Shuttle participating in the company's Employee Share Savings Plan. The average purchase price was NOK 8.7748 per share.
On behalf of primary insider Eric Holm, the company has purchased 510 shares. The new holding is 2,359 shares.
On behalf of primary insider Magnus Thome Maursund, the company has purchased 510 shares. The new holding is 2,100 shares.
Please see attached notifications for persons discharging managerial responsibilities in accordance with Regulation EU 596/2014 (MAR) article 19 and section 5-12 of the Norwegian Securities Trading Act.
Fornebu, 26 August 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
Norwegian today reported its results for the second quarter and first half of 2022, characterised by increasing demand for air travel, higher fuel prices and gain from aircraft order. The figures demonstrate Norwegian’s ability to increase capacity for the busy summer travel season and deliver robust operational performance. Amidst capacity constraints at European airports and aircraft technician strike, close to all scheduled flights were operated.
Profit before tax (EBT) in the second quarter amounted to NOK 1,248 million, impacted both by the reinstatement of aircraft order prepayments and the high fuel price this quarter. Cash and cash equivalents was unchanged from the previous quarter at NOK 7.5 billion. At quarter-end, Norwegian’s total operational fleet comprised 65 aircraft.
“This quarter has demonstrated our ability to rapidly ramp up capacity and effectively meet the strong demand for air travel. The results have been made possible thanks to our dedicated colleagues that put our customers at the heart of our operations. I am particularly pleased that we deliver market-leading regularity in times with capacity constraints across European airports and a technician strike in Norway,” said Geir Karlsen, CEO of Norwegian.
The summer program has been well received among customers across markets. Many customers have longed to travel to Norwegian’s key destinations, creating strong pent-up demand with increasing traffic and bookings through the quarter and into the busy summer season. Production (ASK) was close to double from the previous quarter, while the number of passengers increased with 124 percent. Load factor improved through the quarter to 85 percent in June and increased further into July.
This quarter, Norwegian announced a landmark deal with the purchase of 50 Boeing 737 MAX 8 aircraft, due to be delivered between 2025 and 2028. The delivery schedule closely corresponds to current aircraft lease expirations, entailing a limited net increase of the current fleet. The agreement also includes options for an additional 30 aircraft. Following the conclusion of the agreement, on 22 June, Norwegian reinstated a previously impaired pre-delivery payments (PDP) of NOK 2,099 million in the quarter.
“The aircraft deal with Boeing is key for the Norwegian’s next chapter. It will enable us to serve our customers with modern fuel-efficient aircraft, significantly reducing our carbon footprint. In addition, it sets the stage for us to own a large share of our fleet, enabling us to solidify our Nordic stronghold,” said Karlsen.
In June, aircraft technicians went on strike after the Federation of Norwegian Aviation Industries (NHO Luftfart) and the Norwegian Aircraft Technician Organisation (NFO) failed to reach an agreement. Strong dedication and effort from the Norwegian organisation ensured that disruptions and cancellations were kept to a minimum. The strike was concluded after ten days on 28 June through forced arbitration.
In the second quarter of 2022, Norwegian had 5.0 million passengers, up from 0.4 million in the same period last year and 2.2 million passengers in the previous quarter. Production (ASK) was 7.6 billion, while passenger traffic (RPK) was 6.2 billion. The load factor increased to 81.2 percent, up from 57.4 percent in the same period last year and 76.9 percent in the previous quarter.
Punctuality was heavily impacted by capacity constraints at European airports this quarter. Share of flights departing on schedule was 78.8 percent, compared to 95.4 percent in the same period last year and 88.1 percent in the previous quarter. Regularity, share of flights taking place, was however 99.4 percent.
“Looking ahead, Norwegian is well positioned to solidify the position as a leading Nordic airline. Our customers assign high value on Norwegians offering, including the attractive route network, the award-winning Norwegian Reward loyalty programme, and market-leading operational performance. Agreements entered into with Widerøe and Norse Atlantic Airways in July will serve to further increase the attractiveness of our offering,” said Geir Karlsen.
Current booking trends are encouraging with many customers booking their autumn holidays. For the upcoming winter, Norwegian will utilise the fleet flexibility made possible through power-by-the-hour agreements to optimise production to fluctuations in demand. For the current year, Norwegian is increasing its fleet to 70 aircraft. For the summer of 2023, 15 additional aircraft will be added, bringing the total fleet to 85 aircraft.
For detailed information, please see attached report and presentation.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 25 August 2022 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 25 August 2022 at 07:00 CEST.
Norwegian will release the financial results for the second quarter and first half of 2022 on Thursday 25 August 2022. The report and presentation will be made available at 7:00 CEST at www.norwegian.no/om-oss/selskapet/investor-relations/ and on newsweb. The Company will present the results at 8:30 CEST at Felix Conference Center, Bryggetorget 3, Aker Brygge, Oslo. The presentation will be held by CEO Geir Karlsen and CFO Hans-Jørgen Wibstad.
A live webcast will be available at www.norwegian.com/uk/about/company/investor-relations/.
In addition to questions from the audience, we will open up for questions sent to investor.relations@norwegian.com with subject "Question Q2 presentation". Please note that questions from the audience will be prioritised in the event of time constraints.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Norwegian Air Shuttle ASA Fornebu, 18 August 2022
Norwegian had over 2.2 million passengers in July, the highest number since the outbreak of the pandemic. Norwegian operated 99.7 percent of its scheduled flights with a load factor of close to 95 percent, the highest in several years.
”This has been a great summer for Norwegian. In July, we had the highest load factor in many years, and we operated close to all scheduled flights despite the many demanding challenges the industry has faced. These results have been made possible thanks to our dedicated colleagues who are putting our customers at the heart of our operations”, said Geir Karlsen, CEO of Norwegian.
Norwegian flew 2,206,424 passengers in July, compared to 695,830 in July 2021. The load factor in July was 94.5 percent. The capacity (ASK) was 3,322 million seat kilometres, while actual passenger traffic (RPK) was 3,139 million seat kilometres, an increase of 27 percent from June. Unit revenue (RASK) is estimated at NOK 0.81, while unit revenue including flight related ancillary revenue is estimated at NOK 0.95. Punctuality, as measured by the number of flights departing within 15 minutes of scheduled time, was at 62.2 percent in July. However, as many as 93 percent of all flights arrived on schedule or no more than an hour late. In July, Norwegian operated an average of 70 aircraft and 99.7 percent of scheduled flights were completed.
Norwegian entered into agreements with Widerøe and Norse Atlantic Airways in July with the aim to establish ticketing co-operation and simplify travel for our customers.
See detailed traffic figures in the attached PDF.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 4 August 2022 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 4 August 2022 at 08:00 CEST.
Widerøe AS (“Widerøe”) and Norwegian Air shuttle ASA (“Norwegian”) have today signed a Letter of Intent (LOI) to engage and develop a broad strategic co-operation framework which includes joint ticket and passenger interlining. The agreement, a result of several months of dialogue between the parties, also sets out the joint aim to create synergies relating to both other revenues and operational efficiencies.
Co-operation between Widerøe and Norwegian is aimed at significantly easing travel within the Norwegian domestic market and onward travel, benefitting both airlines’ customers. The parties will in addition look to jointly develop and implement best-in-class sustainable aviation solutions, putting both airlines on strong footing to significantly reduce carbon footprint.
Norwegian’s CEO, Geir Karlsen said, “I am very pleased with the agreement we have entered into with Widerøe today. Our goal for this collaboration is to benefit both companies’ passengers and our employees. In many ways, this is an historic agreement bringing two Norwegian airlines together. A lot of detail is still being worked on but it’s clear from the past months’ discussions with Widerøe that there are many areas we both have a common interest to collaborate on”.
Widerøe’s CEO, Stein Nilsen said, “This is a day of joy for both Widerøe and our passengers who depend heavily on our flights to work and live in Norway. This agreement will allow customers of Norwegian and Widerøe to combine their flights with both airlines at home and abroad. The combination of Widerøe’s network along the coast and in northern Norway and Norwegian’s large European route network will create many new travel opportunities for our common customers. This new collaboration has been requested by our passengers for many years, so it is brilliant to share this news now. We still have a way to go before the agreement is final, but we work well together and have a common goal that this should be implemented as quickly as possible”.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA: +47 906 64 401 Press office at Widerøe AS: +47 989 01 500
Bodø and Fornebu, 12 July 2022 Norwegian Air Shuttle ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Norwegian’s traffic figures for June show that Norwegian had 1,937,318 passengers, an increase of 19 percent compared to the previous month and the highest number since the outbreak of the pandemic.
“I am very satisfied that we operated almost 100 percent of our 400 to 450 daily scheduled flights this month. It has been a challenge due to a strike amongst aircraft technicians in Norway and the constraints at certain airports in Europe,” said Geir Karlsen, CEO of Norwegian.
In June, Norwegian signed a new two-year collective bargaining agreement with the union representing the Norwegian cabin crew members and the Norwegian Pilot Union. The strike action amongst aircraft technicians and the following lockout was ended when the Minister of Labour announced compulsory arbitration.
“We are satisfied with the agreement reached with our cabin crew and the Norwegian Pilot Union and we are also happy to have our aircraft technicians back at work to ensure that our flights are operating as normal. This means that we can deliver on the routes we have promised our customers. We are currently experiencing high demand this summer, but seats are still available to many destinations in Europe”, said Geir Karlsen, CEO of Norwegian.
Norwegian flew 1,937,318 passengers in June, compared to 225,509 in June 2021. The load factor was 84.9 percent. The capacity (ASK) was 2,924 million seat kilometres, while actual passenger traffic (RPK) was 2,482 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.57, while unit revenue including flight related ancillary revenue is estimated at NOK 0.68. Punctuality, as measured by the number of flights departing within 15 minutes of scheduled time, was at 70 percent in June. As many as 93 percent of all flights arrived on schedule or no more than an hour late. In June, Norwegian operated an average of 68 aircraft and 99.1 percent of scheduled flights were completed.
See detailed traffic figures in the attached PDF.
For further information, please contact:
Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 6 July 2022
Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 6 July 2022 at 08:00 CEST.
Primary insider Hans-Jørgen Wibstad, Chief Financial Officer (CFO) at Norwegian Air Shuttle ASA, has today purchased 20,000 shares at a price of NOK 8.2273 per share. Following the transaction, Mr Wibstad holds 45,000 shares in the company.
Fornebu, 30 June 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
Reference is made to the Norwegian Air Shuttle ASA (the "Company") FRN perpetual subordinated convertible bond loan with ISIN NO 0010996440, ISIN NO 0010996432, ISIN NO 0011157331 and ISIN NO 0011157356 in the outstanding amount of NOK 1,821,064,046 (the "New Capital Perpetual Bonds").
Pursuant to the bond terms, the New Capital Perpetual Bonds with ISIN NO 0010996440 in the aggregate amount of NOK 1,738,293,310 can be converted into shares from the date falling on the second anniversary of the issue date (the "Ordinary Conversion Bonds"). The New Capital Perpetual Bonds with ISIN NO 0010996432 in the aggregate amount of NOK 56,502,939 are convertible into shares from the issue date, being 26 May 2021 (the "Early Conversion Bonds"). The New Capital Perpetual Bonds with ISIN NO 0011157331 and NO 0011157356 in the aggregate amount of NOK 26,267,797 can be converted into shares from the date falling on the second anniversary of the issue date (the “PIK Bonds”).
The Ordinary Conversion Bonds and the Early Conversion Bonds were issued as a part of the capital raise being prescribed under the scheme of arrangement for the financial restructuring of the Company and certain of its Irish subsidiaries, which was implemented on 26 May 2021 through an Irish examinership process and a Norwegian reconstruction process. For further details, please see the stock exchange announcement on 11 March 2021, 3 May 2021 and 26 May 2021. The PIK Bonds were issued on 1 December 2021 as payment in kind for interest accrued on the Ordinary Conversion Bonds and the Early Conversion Bonds in the interest period ending 1 December 2021.
The Company has received conversion notices from bondholders representing NOK 1,814,988 Early Conversion Bonds, which pursuant to standard terms set out in the bond terms are convertible into 193,289 new shares in the Company.
Following the conversion, the Company has New Capital Perpetual Bonds in issue in the nominal amount of NOK 1,819,249,058, of which NOK 1,738,293,310 constitute Ordinary Conversion Bonds, NOK 54,687,951 constitute Early Conversion Bonds and NOK 26,267,797 constitute PIK Bonds. The remaining New Capital Perpetual Bonds may be converted into approximately 193.7 million shares in the Company at a conversion price of NOK 9.39, subject to anti-dilution provisions.
The Company’s share capital is increased by NOK 19,328.90 by issue of 193,289 shares. The capital increase pertaining to the conversion of the Early Conversion Bonds has today been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company’s new share capital is NOK 92,998,973.90 divided into 929,989,739 shares, each with a nominal value of NOK 0.10.
Issuance of the new shares in the VPS is expected to take place later today.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel +47 906 64 401
Fornebu, 24 June 2022 Norwegian Air Shuttle ASA
Important information The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction where such publication or distribution is unlawful. This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.
Reference is made to the stock exchange announcement dated 30 May 2022 regarding Norwegian Air Shuttle ASA (“Norwegian”) reaching an agreement in principle with Boeing for a recommitment to purchase 50 Boeing 737 MAX 8 aircraft with options for an additional 30 aircraft. Norwegian today announces that the various closing conditions related to the purchase agreement have been met. Following this, Norwegian estimates that it will record a net gain of approximately NOK 2 billion in the second quarter of 2022. Additionally, Boeing and Norwegian have filed to settle all outstanding legal disputes.
For further information, please contact:
Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA: +47 906 64 401
Fornebu, 22 June 2022
Norwegian Air Shuttle ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Norwegian's traffic figures for May showed that Norwegian had 1.6 million passengers, an increase of 16 percent compared to the previous month.
“As we approach the busy summer months, we continue to ramp up production as planned to meet the increasing demand. Despite capacity constraints at certain airports, we manage to complete almost a 100 percent of our 400 daily scheduled flights with high punctuality,” said Geir Karlsen, CEO of Norwegian.
Punctuality, as measured by the number of flights departing within 15 minutes of scheduled time, was at 84.9 percent in May, an increase from 82.6 percent in April. As many as 97 percent of all flights arrived on schedule or no more than an hour late.
The number of passengers increases month by month, and the company notes that bookings for the summer period continue to grow. A lot of people have already booked tickets to sun and sand destinations and recently Norwegian has seen growth in the city destinations as well. During May, the company opened several new routes to serve the growing demand.
Norwegian had 1,628,040 passengers in May, as compared to 96,909 in May 2021. The load factor was 79.2 percent. The capacity (ASK) was 2,459 million seat kilometres, while actual passenger traffic (RPK) was 1,947 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.46, while unit revenue including flight related ancillary revenue is estimated at NOK 0.57. In May, Norwegian operated an average of 64 aircraft and 99.7 percent of scheduled flights were completed.
Norwegian has significantly increased its fleet as planned in 2022 and will operate 70 aircraft during the summer. Recently, Norwegian signed an agreement in principle with Boeing that will ensure delivery of new 737 MAX 8 aircraft in the years to come. A continued fleet renewal will give passengers an even more comfortable on-board experience in modern and fuel-efficient aircraft.
See detailed traffic figures in the attached PDF.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 7 June 2022 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 7 June 2022 at 08:00 CEST.
Primary insider Geir Olav Øien, deputy employee representative board member of Norwegian Air Shuttle ASA, has today purchased 4,400 shares at a price of NOK 11.15 per share. Following the transaction, Mr Øien holds 4,400 shares in the company.
Fornebu, 31 May 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
Primary insider Hans-Jørgen Wibstad, Chief Financial Officer (CFO) at Norwegian Air Shuttle ASA, has today purchased 25,000 shares at a price of NOK 11.1386 per share. Following the transaction, Mr Wibstad holds 25,000 shares in the company.
Fornebu, 31 May 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
Primary insider Svein Harald Øygard, Chair of the Board of Norwegian Air Shuttle ASA, has today purchased 100,000 shares at a price of NOK 10.64 per share. Following the transaction, Mr Øygard owns 1,634,281 shares in the company.
Fornebu, 30 May 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
Norwegian Air Shuttle ASA (“Norwegian” or the “Company”) announces that it has reached an agreement in principle with Boeing for a recommitment to purchase 50 Boeing 737 MAX 8 aircraft. The agreement also includes options for an additional 30 aircraft. The 50 aircraft are due to be delivered between 2025 and 2028, at a schedule closely corresponding to current aircraft lease expirations. This entails a limited net increase of the Company’s current fleet. The parties’ agreement in principle is subject to various closing conditions, which are targeted to be concluded by the end of June 2022.
The Company intends to finance the outstanding balance of pre-delivery payments through positive cash flow from operating activities. A significant share of the aircraft will be owned by the Company, ensuring an optimised and balanced aircraft financing structure. Subsequent to the conclusion of these agreements, Norwegian estimates to record a net gain of approximately NOK 2 billion.
“This is a landmark deal that sets out a path whereby Norwegian will own a large share of its fleet. This will result in lower all-in costs and increased financial robustness, enabling us to further solidify our Nordic stronghold. The deal also allows us to serve our customers with state-of-the-art aircraft that can run increasingly on sustainable aviation fuel,” says Svein Harald Øygard, Chair of the Board of Norwegian.
The purchase agreement demonstrates Norwegian’s continuously strong commitment to operate a modern and fuel-efficient fleet. The Boeing 737 MAX 8 is approximately 14 percent more fuel-efficient compared to the previous-generation aircraft, putting the Company on strong footing to achieve its target of reducing emissions by 45 percent by 2030.
“The overall terms achieved are attractive for Norwegian, and the deal fits well with our long-term fleet strategy and route program. It will enable us to serve our customers with modern fuel-efficient aircraft with the latest technology, significantly reducing our carbon footprint. The deal will also strengthen the Company’s equity considerably, further solidifying Norwegian’s financial position,” concludes CEO Geir Karlsen.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA: +47 906 64 401 Esben Tuman, Media Relations at Norwegian Air Shuttle ASA: +47 905 08 400
Fornebu, 30 May 2022 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 30 May 2022 at 08:00 CEST.
The Annual General Meeting of Norwegian Air Shuttle ASA was held today, 25 May 2022. The meeting was held as a digital meeting.
All proposals on the agenda were adopted.
Minutes from the Annual General Meeting are attached to the notice and available at https://www.norwegian.no/om-oss/selskapet/investor-relations/annual-general/
Fornebu, 25 May 2022 Norwegian Air Shuttle ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
On 18 May 2022, a total of 114,367 shares were purchased on behalf of employees in Norwegian Air Shuttle participating in the company's Employee Share Savings Plan. The average purchase price was NOK 10.4083 per share.
On behalf of primary insider Eric Holm, the company has purchased 431 shares. The new holding is 1,849 shares. Notification
On behalf of primary insider Magnus Thome Maursund, the company has purchased 431 shares. The new holding is 1,590 shares. Notification
Please see attached notifications for persons discharging managerial responsibilities in accordance with Regulation EU 596/2014 (MAR) article 19 and section 5-12 of the Norwegian Securities Trading Act.
Fornebu, 18 May 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
Today, Norwegian reported its first quarter results of 2022. The results in the seasonally weakest quarter of the year were also impacted by the omicron virus and the war in Ukraine, resulting in an operating loss (EBIT) of NOK 849 million. The company has continued to safeguard its cash position at a high level, NOK 7.5 billion, demonstrating the ability to adjust to market demand and discipline in conserving liquidity.
In the first quarter of 2022, Norwegian had 2.2 million passengers, up from 0.2 million in the same period last year. Production (ASK) was 3.9 billion seat kilometres, while passenger traffic (RPK) was 3.0 billion seat kilometres. The load factor increased to 76.9 percent, up from 38.5 percent in the same period last year. Despite the strong growth in available seats and the high number of new routes through the quarter and into April, the company has maintained high load factor levels and has improved earnings.
“We have adapted to fluctuations in demand quickly and efficiently, and we have managed to protect our strong liquidity position even through a challenging period. The increase in bookings ahead of the summer season is significant, and we look forward to welcoming our customers on board the close to 280 routes we have for sale. I am pleased to note that our corporate travellers are starting to return to air travel. We know they place high value on our attractive route network and strong on-time performance record,” said Geir Karlsen, CEO of Norwegian.
Punctuality, the share of flights departing on schedule, was 88.1 percent in the first quarter of 2022, up from 87.8 percent in the previous quarter.
During the quarter, Norwegian announced an agreement to lease 10 new and fuel-efficient 737 MAX 8 aircraft with delivery in the spring of 2023. In addition, Norwegian is in the process of leasing an additional five 737 MAX 8 aircraft, which will bring the fleet to 85 aircraft by the summer 2023 season.
For detailed information, please see attached report and presentation.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 13 May 2022 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 13 May 2022 at 07:00 CEST.
Reference is made to the stock exchange announcement dated 4 May 2022 regarding notice of the Annual General Meeting.
The recommendation of the Nomination Committee is attached, and all relevant documents ahead of the general meeting can be found at https://www.norwegian.no/om-oss/selskapet/investor-relations/annual-general/.
For further information, please contact:
Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 12 May 2022 Norwegian Air Shuttle ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Reference is made to the Norwegian Air Shuttle ASA (the "Company") FRN perpetual subordinated convertible bond loan with ISIN NO 0010996440 and ISIN NO 0010996432 in the outstanding amount of 1,800,796,249 (the "New Capital Perpetual Bonds").
Pursuant to the bond terms, the New Capital Perpetual Bonds with ISIN NO 0010996440 in the aggregate amount of NOK 1,738,293,310 can be converted into shares from the date falling on the second anniversary of the issue date (the "Ordinary Conversion Bonds") and the New Capital Perpetual Bonds with ISIN NO 0010996432 in the aggregate amount of NOK 62,502,939 are convertible into shares from the issue date, being 26 May 2021 (the "Early Conversion Bonds").
The New Capital Perpetual Bonds were issued as a part of the capital raise being prescribed under the scheme of arrangement for the financial restructuring of the Company and certain of its Irish subsidiaries, which was implemented on 26 May 2021 through an Irish examinership process and a Norwegian reconstruction process. For further details, please see the stock exchange announcement on 11 March 2021, 3 May 2021 and 26 May 2021.
The Company has received conversion notices from bondholders representing NOK 6,000,000 Early Conversion Bonds, which pursuant to standard terms set out in the bond terms are convertible into 638,977 new shares in the Company.
Following the conversion, the Company has New Capital Perpetual Bonds in issue in the nominal amount of NOK 1,794,796,249, of which NOK 1,738,293,310 constitute Ordinary Conversion Bonds and NOK 56,502,939 constitute Early Conversion Bonds. The remaining New Capital Perpetual Bonds may be converted into approximately 191.1 million shares in the Company at a conversion price of NOK 9.39, subject to anti-dilution provisions.
The Company’s share capital is increased by NOK 63,897.70 by issue of 638,977 shares. The increase pertaining to the conversion of the Early Conversion Bonds has today been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company’s new share capital is NOK 92,979,645.00 divided into 929,796,450 shares, each with a nominal value of NOK 0.10.
Issuance of the new shares in the VPS is expected to take place later today.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel +47 906 64 401
Fornebu, 10 May 2022 Norwegian Air Shuttle ASA
Important information The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction where such publication or distribution is unlawful. This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.
Norwegian will release the financial results for the first quarter of 2022 on Friday 13 May 2022. The report and presentation will be made available at 7:00 CEST at https://www.norwegian.no/om-oss/selskapet/investor-relations/ and on newsweb. The Company will present the results at 8:30 CEST at Felix Conference Center, Bryggetorget 3, Aker Brygge, Oslo. The presentation will be held by CEO Geir Karlsen.
A live webcast will be available at https://www.norwegian.com/uk/about/company/investor-relations/.
In addition to questions from the audience, we will open up for questions sent to investor.relations@norwegian.com with subject "Question Q1 presentation". Please note that questions from the audience will be prioritised in the event of time constraints.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Norwegian Air Shuttle ASA Fornebu, 5 May 2022
Norwegian's traffic figures for April showed that Norwegian had 1.4 million passengers, approximately 50 percent more than the previous month.
“1.4 million passengers chose to fly with Norwegian in April. This is more than a doubling from two months ago, and I am pleased to see that the demand for air travel continues to grow. In a short period of time, we have increased capacity substantially, and at the same time we have improved our earnings,” said Geir Karlsen, CEO of Norwegian.
Norwegian initiated the summer traffic programme by late March, and the production in April was more than 50 percent higher compared to March. Even though the number of new routes launched, the load factor remained high. Despite punctuality being slightly affected by capacity issues at several airports, Norwegian completed more than 99 percent of all scheduled flights. The booking figures for the summer are very positive and the company sees an increasing number of corporate travellers that wish to travel with Norwegian.
Norwegian had 1,400,396 passengers in April, compared with 59,431 in April 2021. The load factor was 78.7 percent. The capacity (ASK) was 2,242 million seat kilometres, while actual passenger traffic (RPK) was 1,764 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.50, while unit revenue including flight related ancillary revenue is estimated at NOK 0.60. In April, Norwegian operated an average of 60 aircraft, and 99.3 of the scheduled flights were completed. Punctuality was 82.6 percent.
See detailed traffic figures in the attached PDF.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 5 May 2022 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 5 May 2022 at 08:00 CEST.
The Annual General Meeting of Norwegian Air Shuttle ASA will be held on 25 May 2022 at 14:00 CEST.
The annual general meeting will be held digitally through Lumi. It will not be possible to attend in person. For digital participation, please use the link https://web.lumiagm.com/#/128196636. Reference and PIN codes to the meeting are available on VPS Investor Services, or in the form attached to the notice to the individual shareholder. Shareholders may also submit a proxy, with or without voting instructions, by 24 May 2022 at 16:00 CEST.
The notice is attached, and all relevant documents can be found at https://www.norwegian.no/om-oss/selskapet/investor-relations/annual-general/.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 4 May 2022 Norwegian Air Shuttle ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Norwegian Air Shuttle's annual report for 2021 has been published today. A pdf version of the report is attached and will also be made available at Norwegian’s website.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 28 April 2022 Norwegian Air Shuttle ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Reference is made to the following bond issues (the "Bond Loans") of Norwegian Air Shuttle ASA (the "Company"):
(i) Norwegian Air Shuttle ASA FRN perpetual subordinated convertible bonds with ISIN NO 0011157331 and NO 0011157356 (jointly, the "New Capital Perpetual PIK Bonds"), and (ii) Norwegian Air Shuttle ASA zero coupon senior unsecured NOK 3,758,932,275 bonds 2021/2026 with ISIN NO 0010996457 (the "Retained Claims Bonds").
The New Capital Perpetual PIK Bonds were issued on 1 December 2021 under and in accordance with the New Capital Perpetual Bond Terms, where the Company may choose to pay interest as payment-in-kind by issuing additional bonds. The Retained Claims Bonds were issued on 26 May 2021 to certain creditors of the Issuer as settlement of amounts owing to such creditors. For further details, please see the stock exchange announcements on 11 March 2021, 3 May 2021, 26 May 2021, 19 November 2021, and the terms of the Bonds Loans available at www.stamdata.no (may require subscription).
The Company has applied for the Bond Loans to be admitted to listing on Oslo Børs. On 21 April 2022, the Norwegian Financial Supervisory Authority (Nw. Finanstilsynet) approved a listing prospectus for the Bonds, comprising of a summary, a securities note and a second supplement to the registration document dated 6 May 2021 as supplemented through a first supplemental registration document dated 18 August 2021 (collectively the "Listing Prospectus").
For more information, please refer to the Listing Prospectus which will, subject to regulatory restrictions in certain jurisdictions, be available at the Company’s website, www.norwegian.no/om-oss/selskapet/investor-relations/reports-and-presentations/.
Note that the Listing Prospectus has been prepared for the purpose of listing the Bond Loans only. Consequently, no securities are being offered under the Listing Prospectus.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, +47 906 64 401
Important information This announcement does not constitute an offer of any of the securities described herein.The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction where such publication or distribution is unlawful. This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.
Oslo Børs has received an application for ISIN NO0010996457 to be admitted to stock exchange listing.
The Market Abuse Regulation (MAR) applies from the time the application has been made, including the issuer’s disclosure obligation on inside information.
Oslo Børs has received an application for ISIN NO0011157356 to be admitted to stock exchange listing.
The Market Abuse Regulation (MAR) applies from the time the application has been made, including the issuer’s disclosure obligation on inside information.
Oslo Børs has received an application for ISIN NO0011157331 to be admitted to stock exchange listing.
The Market Abuse Regulation (MAR) applies from the time the application has been made, including the issuer’s disclosure obligation on inside information.
Norwegian's traffic figures for March displayed a positive trend with growth in passenger numbers and a load factor of above 80 percent. The company recently reopened several bases and direct routes in Europe and will continue to increase capacity ahead of the summer.
“We are particularly pleased that the load factor has remained above 80 per cent despite the introduction of significantly more capacity in March. Booking figures have improved throughout recent weeks and we are pleased to see this continued upward trend in the market. We are seeing a busy Easter travel period with many travellers and several full flights. Towards the summer, we will reopen and introduce new destinations, and our customers can now choose from almost 280 routes in Europe,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 940,149 passengers in March, compared with 71,399 in March 2021. Load factor was 80.3 percent. The capacity (ASK) was 1,485 million seat kilometres, while actual passenger traffic (RPK) was 1,193 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.42, while unit revenue including flight related ancillary revenue is estimated at NOK 0.52. In March, Norwegian flew an average of 48 aircraft, and 99.4 per cent of scheduled flights were completed. Punctuality was 90.1 percent.
In the summer program, Norwegian will operate almost 280 routes to popular destinations in Europe, with a fleet of 70 aircraft. This week, the company removed the requirement to wear face masks on board all flights.
See detailed traffic figures in the attached PDF.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, +47 906 64 401
Fornebu, 6 April 2022 Norwegian Air Shuttle ASA
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jesper M. Hatletveit, VP Investor Relations at Norwegian Air Shuttle ASA, on 6 April 2022 at 08:00 CEST.
March 30, 2022 - Reference is made to the stock exchange release published by Norwegian Air Shuttle ASA (the “Company”) on March 23, 2022, regarding a contemplated buy-back of the zero-coupon senior unsecured NOK 3,758,929,771 bond issue maturing 30.09.2026 (Retained Claims Bonds with ISIN NO0010996457).
The “Reverse Dutch Auction” closed at 16:00 CEST, March 29, 2022. The Company has decided to accept all offers up to and including a price of 66.000% of par value (the “Buy-Back Price”).
The Company hereby confirms to buy back bonds with a total nominal value of NOK 44,611,470 by paying the Buy-Back Price. Cash settlement for the repurchase is expected to occur on Tuesday, April 5, 2022. Following the buy-back, the Company holds zero-coupon Retained Claims Bonds (ISIN: NO0010996457) for a total nominal amount of NOK 44,611,470. The acquired bonds will be cancelled following settlement.
DNB Markets acted as Manager for the buy-back.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 30 March, 2022 Norwegian Air Shuttle ASA
Important information: The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction where such publication or distribution is unlawful.
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.
Primary insider Tor-Arne Fosser, Executive Vice President (EVP) Products & Digital Development Norwegian Air Shuttle ASA, has today sold 70,000 shares at a price of NOK 10.187 per share.
Following the transaction, Mr Fosser holds 25,847 shares in the company. Please see attached notifications for persons discharging managerial responsibilities in Norwegian in accordance with Regulation EU 596/2014 (MAR) article 19.
Fornebu, 25 March 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
Norwegian Air Shuttle ASA (the “Company”) is contemplating a buy-back of the zero-coupon senior unsecured NOK 3,758,929,711 bond issue maturing 30.09.2026 (Retained Claims Bonds with ISIN NO0010996457).
DNB Markets is acting as Manager of the buy-back. The buy-back will be conducted as a “Reverse Dutch Auction”, where the Company, through the Manager, will receive offers for desired volume(s) at desired price(s) for sale from bondholders on a confidential basis. The Company reserves the right to accept any volume up to an accepted price, or to reject all received offers in the contemplated buy-back.
Eligible bondholders are hereby invited to provide offers for sale of all or a portion of their bonds through submission of the attached bondholders offer form (the “Bondholders Offer Form”). The Company is contemplating a total buy-back volume of up to NOK 50,000,000 at a price equivalent to a maximum of 66.000% of par. Due date for submission is 16:00 CEST, March 29, 2022. Prior to 09:00 CEST, March 30, 2022, the Company will decide upon the highest Buy-Back Price (the “Buy-Back Price”) the Company accepts and consequently the total amount of bonds to be purchased, if any.
All bondholders with offers equaling the Buy-Back Price or lower will receive the Buy-Back Price on allocated amounts up to the amounts offered within the accepted maximum price. The Company may in its sole discretion reduce the number of Bonds to be acquired on a pro rata basis for Bonds offered at the Buy Back Price. Cash settlement is set to April 5, 2022. The acquired bonds will be cancelled following settlement.
The Company will only accept offers from bondholders or beneficial owners (or any person acting as agent, custodian, fiduciary or in another intermediary capacity for a bondholder or beneficial owner) who is not a U.S. person (as such term is defined pursuant to Regulation S under the US Securities Act of 1933, as amended) and who is outside the United States. Other offer and distribution restrictions apply, as further set out in the Bondholders Offer Form.
All submissions of Bondholders Offer Form are to be sent by e-mail to DNB Markets no later than 16:00 CEST, March 29, 2022. Contact details:
E-mail: bond.syndicate@dnb.no Tel: +47 906 64 401
The Company may, in its sole discretion, waive, extend, terminate, withdraw or increase the size of the buy-back at any time. Any prospective changes to this offer will be announced on www.stamdata.com.
Information about Norwegian Air Shuttle ASA, including company financials and stock exchange releases, can be found on the Company’s investor relation website (https://www.norwegian.no/om-oss/selskapet/investor-relations/).
Please see Bondholders Offer Form attached.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 01
Fornebu, 23 March 2022 Norwegian Air Shuttle ASA
Important information: The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction where such publication or distribution is unlawful. This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.
Fond forvaltet av DNB Asset Management AS solgte 16.03.2022, 974,650 aksjer i Norwegian Air Shuttle ASA (NAS NO)
Fond forvaltet av DNB Asset Management AS eier etter dette 46,317,917 aksjer i Norwegian Air Shuttle ASA , som utgjør en eierandel på 4.98% av totalt utstedte aksjer i selskapet.
Reference is made to the Norwegian Air Shuttle ASA (the "Company") FRN perpetual subordinated convertible bond loan with ISIN NO 0010996440 and ISIN NO 0010996432 in the aggregate amount of 1,832,981,723 (the "New Capital Perpetual Bonds").
Pursuant to the bond terms, the New Capital Perpetual Bonds with ISIN NO 0010996440 in the aggregate amount of NOK 1,738,293,310 can be converted into shares from the date falling on the second anniversary of the issue date (the "Ordinary Conversion Bonds") and the New Capital Perpetual Bonds with ISIN NO 0010996432 in the aggregate amount of NOK 64,502,939 are convertible into shares from the issue date, being 26 May 2021 (the "Early Conversion Bonds").
The New Capital Perpetual Bonds were issued as a part of the capital raise being prescribed under the scheme of arrangement for the financial restructuring of the Company and certain of its Irish subsidiaries, which was implemented on 26 May 2021 through an Irish examinership process and a Norwegian reconstruction process. For further details, please see the stock exchange announcement on 11 March 2021, 3 May 2021 and 26 May 2021.
The Company has received conversion notices from bondholders representing NOK 2,000,000 Early Conversion Bonds, which pursuant to standard terms set out in the bond terms are convertible into 212,992 new shares in the Company.
Following the conversion, the Company has New Capital Perpetual Bonds in issue in the nominal amount of NOK 1,800,796,249, of which NOK 1,738,293,310 constitute Ordinary Conversion Bonds and NOK 62,502,939 constitute Early Conversion Bonds. The remaining New Capital Perpetual Bonds may be converted into approximately 191.8 million shares in the Company at a conversion price of NOK 9.39, subject to anti-dilution provisions.
The Company’s share capital is increased by NOK 21,299.20 by issue of 212,992 shares. The increase pertaining to the conversion of the Early Conversion Bonds has today been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company’s new share capital is NOK 92,915,747.30 divided into 929,157,473 shares, each with a nominal value of NOK 0.10.
Issuance of the new shares in the VPS is expected to take place later today.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel +47 906 64 01
Fornebu, 8 March 2022 Norwegian Air Shuttle ASA
Important information The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction where such publication or distribution is unlawful. This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.
Norwegian's traffic figures for February show that the number of passengers has remained stable over the second month of the year. 640,000 passengers flew with the company and load factor was over 81 percent. In February, ticket sales reached the highest level since the outbreak of the pandemic in March 2020.
In February, Norway and many European countries removed entry rules and other measures and restrictions associated with the pandemic.
“February is traditionally a month with lower travel demand, however, figures have remained comparable to the month of January. We are particularly pleased that our aircraft have had a load factor of over 81 percent. When travel restrictions were lifted, we immediately noticed increased demand for flights. We will have a comprehensive summer program this year to meet this demand,” said Geir Karlsen, CEO of Norwegian.
Norwegian carried 643,089 passengers in February, compared with 61,374 in February 2021. The load factor was 81.3 per cent. The capacity (ASK) was 1,089 million seat kilometres, while actual passenger traffic (RPK) was 885 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.41, while unit revenue including flight related ancillary revenue is estimated at NOK 0.51. In February, Norwegian had an average of 44 aircraft in operation, and 99.8 per cent of scheduled flights were operated. Punctuality was 87.8 percent.
During the summer program, 280 routes to 38 destinations are planned, and Norwegian will have around 70 aircraft in operation. The company has noted a very positive development in future bookings over the last period, and monitors closely the uncertain situation in Europe, the turmoil in the financial markets and the change in oil prices.
See detailed traffic figures in the attached PDF.
Fornebu, 4 March 2022 Norwegian Air Shuttle ASA
This information is subject of the disclosure requirements according to Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel +47 906 64 401.
On 28 February 2022, a total of 107,051 shares were purchased on behalf of employees in Norwegian Air Shuttle participating in the Company's Employee Share Savings Plan. The average purchase price was NOK 11.02 per share.
On behalf of primary insider Eric Holm, the Company has purchased 407 shares. The new holding is 1,418 shares.
On behalf of primary insider Magnus Thome Maursund, the Company has purchased 271 shares. The new holding is 1,159 shares.
Please see attached notifications for persons discharging managerial responsibilities in accordance with Regulation EU 596/2014 (MAR) article 19 and section 5-12 of the Norwegian Securities Trading Act.
Fornebu, 28 February 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
Norwegian continues to expand its aircraft fleet and has entered into agreements with AerCap to lease aircraft, of which ten are new Boeing 737 MAX 8, to be delivered in the first half of 2023.
Norwegian has a long-standing relationship with AerCap, the world’s largest aviation leasing company. The signed lease agreements also include eight Boeing 737-800 NG, which are part of the 70 aircraft fleet operational for the summer 2022 season. With these additions, Norwegian will have a total fleet of 80 aircraft by the summer of 2023.
“The addition of these aircraft will help us achieving our target of building a larger, modern and more fuel-efficient fleet. This will in turn enable us to deliver our products and services in a wide network of routes in the Nordics and to European destinations,” said Geir Karlsen, CEO of Norwegian.
The Boeing 737 MAX 8 is approximately 14 percent more fuel efficient compared to previous-generation aircraft, hence contributing to Norwegian’s ambitious target to reduce its carbon emissions by 45 percent by 2030, compared to 2010.
Norwegian has previously announced several lease agreements that will increase its fleet from the current 51 aircraft to this summer’s fleet of 70. For some of the aircraft under these agreements, Norwegian has the option to substitute certain aircraft with equivalent narrow-body models from Airbus.
Fornebu, 28 February 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
Norwegian today reported its fourth quarter and preliminary full year results for 2021. Passenger demand increased from the previous quarter, however, demand was negatively impacted by the outbreak of the coronavirus omicron variant. Profit before tax (EBT) was NOK 117 million, compared to a loss of NOK 16.6 billion in the fourth quarter of 2020 and a profit of NOK 169 million in the third quarter.
In the fourth quarter of 2021, 3.1 million passengers travelled with Norwegian, up from 0.6 million in the same period last year and 2.5 million in the previous quarter. Production (ASK) was 4.6 billion seat kilometres, while passenger traffic (RPK) was 3.6 billion seat kilometres. The load factor increased to 77.0 percent, up from 52.4 percent in the same period 2020 and 73.1 percent in the previous quarter. At the end of the fourth quarter of 2021, the total operational fleet comprised 51 aircraft.
Norwegian has continued to focus on cost control and liquidity discipline across every aspect of the company, which has led the to an improvement in the cash position. By the end of the fourth quarter, cash and cash equivalents increased to NOK 7.7 billion.
“I am pleased that we have been able to adapt to fluctuations quickly and efficiently, and that we can report a profit and an improved cash position in a quarter strongly affected by the omicron virus and government-imposed travel restrictions. I would also like to thank colleagues from across the airline for their continued dedication and hard work. We are looking forward to welcoming more customers on board heading into the busier spring and summer seasons, with a fleet increasing to 70 aircraft and over 270 routes on sale,” said Geir Karlsen, CEO of Norwegian.
Punctuality, meaning share of flights departing on schedule, was 87.8 percent in the fourth quarter of 2021, down from 94.1 percent in the fourth quarter of 2020 and 91.0 percent in the previous quarter. Norwegian was named the most punctual Nordic airline in 2021, and number three in Europe.
For detailed information, please see attached report and presentation.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 904 46 601
Fornebu, 18 February 2022 Norwegian Air Shuttle ASA
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1 and section 5-12 of the Norwegian Securities Trading Act, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 904 46 601.
Reference is made to the Norwegian Air Shuttle ASA (the “Company”) FRN perpetual subordinated convertible bond loan with ISIN NO 0010996440 and ISIN NO 0010996432 in the aggregate amount of 1,806,796,249 (the “New Capital Perpetual Bonds”).
Pursuant to the bond terms, the New Capital Perpetual Bonds with ISIN NO 0010996440 in the aggregate amount of NOK 1,738,293,310 can be converted into shares from the date falling on the second anniversary of the issue date (the “Ordinary Conversion Bonds”) and the New Capital Perpetual Bonds with ISIN NO 0010996432 in the aggregate amount of NOK 68,502,939 are convertible into shares from the issue date, being 26 May 2021 (the “Early Conversion Bonds”).
The New Capital Perpetual Bonds were issued as a part of the capital raise being prescribed under the scheme of arrangement for the financial restructuring of the Company and certain of its Irish subsidiaries, which was implemented on 26 May 2021 through an Irish examinership process and a Norwegian reconstruction process. For further details, please see the stock exchange announcement on 11 March 2021, 3 May 2021 and 26 May 2021.
The Company has received conversion notices from bondholders representing NOK 4,000,000 Early Conversion Bonds, which pursuant to standard terms set out in the bond terms are convertible into 425,985 new shares in the Company.
Following the conversion, the Company has New Capital Perpetual Bonds in issue in the nominal amount of NOK 1,802,796,249, of which NOK 1,738,293,310 constitute Ordinary Conversion Bonds and NOK 64,502,939 constitute Early Conversion Bonds. The remaining New Capital Perpetual Bonds may be converted into approximately 192.0 million shares in the Company at a conversion price of NOK 9.39, subject to anti-dilution provisions.
The Company’s share capital is increased by NOK 42,598.50 by issue of 425,985 shares. The increase pertaining to the conversion of the Early Conversion Bonds has today been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company’s new share capital is NOK 92,894,448.10 divided into 928,944,481 shares, each with a nominal value of NOK 0.10.
Issuance of the new shares in the VPS is expected to take place later today.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel +47 904 46 601
Fornebu, 16 February 2022 Norwegian Air Shuttle ASA
Important information
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction where such publication or distribution is unlawful. This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Norwegian will release the financial results for the fourth quarter of 2021 on Friday 18 February 2022. The report and presentation will be made available at 7:00 AM (CET) at norwegian.com and newsweb.no.
The Company will present the results at 8.30 AM (CET) at Felix Conference Center, Bryggetorget 3, Aker Brygge, Oslo. The presentation will be held by CEO Geir Karlsen.
A live webcast will be available at https://www.norwegian.com/uk/about/company/investor-relations/
In addition to questions from the audience, we will open up for questions sent to investor.relations@norwegian.com with subject "Question Q4 presentation". It is worth noting that questions from the audience will be prioritized in the event of time constraints.
Norwegian Air Shuttle ASA Fornebu, 4 February 2022
Pursuant to Section 4-3 of the Norwegian Securities Trading Act and the Securities Trading Act Regulations, we hereby disclose the following information.
Funds managed by Silver Point Capital, L.P. have on 3 February 2022 purchased 1,142,000 shares in Norwegian Air Shuttle ASA (the "Company"), following which funds managed by Silver Point Capital, L.P. will own 47,058,500 shares in the Company, which represents approximately 5.068% of the issued share capital and voting rights in the Company.
Silver Point Capital, L.P. is the disclosing party on an aggregated level. The shares and voting rights are effectively held by the following funds managed by Silver Point Capital, L.P. or its affiliates[1]:
• Silver Point Capital Fund, L.P.
• Silver Point Capital Offshore Master Fund, L.P.
• Silver Point Distressed Opportunities Fund, L.P. (the “Distressed Opportunities Fund”)
• Silver Point Distressed Opportunities Offshore Master Fund, L.P. (the “Distressed Opportunities Offshore Fund”)
• Silver Point Distressed Opportunities Institutional Partners, L.P. (the “Distressed Opportunities Institutional Fund”)
• Silver Point Distressed Opportunities Institutional Partners Master Fund (Offshore), L.P. (the “Distressed Opportunities Institutional Offshore Fund”)
No individual fund has reached or passed the 5 % threshold.
This notification is made pursuant to Section 4-2 of the Norwegian Securities Trading Act.
[1] Silver Point Distressed Opportunities Management, LLC (“Distressed Opportunities Management”) is the investment manager of the Distressed Opportunities Fund, the Distressed Opportunities Offshore Fund, the Distressed Opportunities Institutional Fund and the Distressed Opportunities Institutional Offshore Fund (collectively, the “Distressed Funds”) and by virtue of such status may be deemed to be the beneficial owner of the securities held by the Distressed Funds. Silver Point Capital, L.P. is the sole owner of Distressed Opportunities Management.
Traffic figures for January show that almost 640,000 passengers flew with Norwegian during the month. This represents a significant increase compared to the same month last year.
Traditionally January is a quieter period for passenger demand, however, figures were also affected by the rapid the spread of the omicron virus and associated government-imposed measures and restrictions.
“We know that there is pent up demand to travel, the latest international announcements regarding the reopening of society and removal of restrictions have had a positive effect on how customers plan and book their travel for the spring and summer. Norwegian is ready to adapt capacity to this increased future demand and we look forward to welcoming our loyal customers on board,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 637,376 passengers in January, compared with 74,224 in January 2021. The occupancy rate was 70 percent. The capacity (ASK) was 1,298 million seat kilometres, while actual passenger traffic (RPK) was 905 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.32, an 11 percent increase from the same period last year. In January, Norwegian had an average of 45 aircraft in operation, and 99.2 per cent of scheduled flights were operated. Punctuality was 85.9 percent.
See detailed traffic figures in the attached PDF.
Fornebu, 4 February 2022 Norwegian Air Shuttle ASA
This information is subject of the disclosure requirements according to Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel +47 904 46 601.
Reference is made to the “Terms of Dividend Claims” for Norwegian Air Shuttle ASA (the “Company”) dated 11 March 2021 (the “Dividend Claim Terms”) relating to the dividend claims representing part of the dividends approved by (i) the scheme of arrangement under the Irish examinership commenced by the presentation of a petition on 18 November 2020 for the Company and certain of its Irish subsidiaries as formulated by the examiner of the Company pursuant to section 534 of the Irish Companies Act 2014 and (ii) the reconstruction plan under the Norwegian reconstruction negotiations (Nw. rekonstruksjonsforhandling) in respect of the Company pursuant to section 23 of the Norwegian Temporary Reconstruction Act (Nw. rekonstruksjonsloven) commenced by service of a petition dated 8 December 2020. For further details, please see previously published stock exchange notices. Capitalised terms used but not defined in this notice shall be given the meaning given to such term in the Dividend Claim Terms.
The Post-Conversion Report from the Overseer, confirming that the Structured Sale Process (including the distribution of proceeds thereof) and the distribution of No-Sale Conversion Shares to the relevant Creditors have been completed in accordance with the terms set out in these Dividend Claim Terms, is posted together with this notice.
Fornebu 11 January 2022 Norwegian Air Shuttle ASA
Important information
This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel. +47 906 64 401.
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction where such publication or distribution is unlawful. This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.
Norwegian's monthly traffic figures for December show that more than 930,000 passengers flew with Norwegian. This represents a significant increase compared with the same month in 2020, however, the month of December was also strongly affected by government-imposed measures and restrictions. Christmas and New Year flights operated as planned with capacity that took into account lower demand as a result of the positive infection situation and government-imposed restrictions. “I am pleased that we have efficiently balanced the planning and implementation of our route network and production for December. This in turn meant that passengers could book and travel on Norwegian with confidence during the festive period allowing families and friends to be reunited. Lower demand was factored into our schedules during Christmas and the New Year weekend, therefore I am pleased to report that load factors are good for December as well. We have seen an effect on general demand from the spread of the Omicron virus and the subsequent new measures and restrictions in Scandinavia and abroad,” says Geir Karlsen, CEO of Norwegian.
In December, Norwegian carried 931,917 passengers, compared with 129,664 in December 2020. Total capacity (ASK) was 1,536 million, while total passenger traffic (RPK) was 1,095 million. The load factor was 71.3 percent. Unit revenue (RASK) is estimated at NOK 0.38, an 8 percent reduction from the same period last year.
“Norwegian was recently named the most punctual Nordic airline and the third most punctual airline in Europe. Despite having gone through a challenging year, I am proud that we have managed to deliver a high-quality product”, continued Geir Karlsen.
In December, Norwegian had an average of 48 aircraft in operation, while 99.6 per cent of scheduled flights were operated. Punctuality was 83.8 percent.
See detailed traffic figures in the attached PDF.
Fornebu, 6 January 2022 Norwegian Air Shuttle ASA
This information is subject of the disclosure requirements according to Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA, tel +47 904 46 601.