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
On 6 November 2023, a total of 164,377 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 9.6413 per share.
On behalf of primary insider Geir Olav Øien, the company has purchased 465 shares. The new holding is 6,652 shares.
On behalf of primary insider Eric Holm, the company has purchased 465 shares. The new holding is 1,326 shares.
On behalf of primary insider Magnus Thome Maursund, the company has purchased 465 shares. The new holding is 4,362 shares.
On behalf of primary insider Katrine Gundersen, the company has purchased 930 shares. The new holding is 1,447 shares.
On behalf of primary insider Christoffer Sundby, the company has purchased 1,085 shares. The new holding is 339,944 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, 7 November 2023 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 had 2.1 million passengers and a load factor of 86.1 percent in October. Air travel demand was particularly high during the Nordic autumn holidays when many travellers flew to destinations across Europe. Regularity was high with 99.4 percent of all scheduled flights taking place.
“We are very satisfied with October’s traffic figures. Many Nordic customers took advantage of the autumn holidays, prolonging the summer season with trips to our many popular city and beach destinations across Scandinavia and Europe. I am particularly happy to see that we have managed to reduce our CO2 emissions by four percent compared to the same period last year, thanks to flying more modern aircraft and using the latest technology when navigating in the air,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 2,066,296 passengers in October, up 10 percent from October 2022. The capacity (ASK) was 3,115 million seat kilometres, while actual passenger traffic (RPK) was 2,683 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.66, while unit revenue including flight related ancillary revenue is estimated at NOK 0.78. In October, Norwegian operated an average of 78 aircraft with a regularity, share of scheduled flights taking place, of 99.4 percent. Punctuality, the share of flights departing within 15 minutes of scheduled time, was at 85.0 percent in October. However, a total of 98 percent of all departed flights arrived on schedule or within one hour of scheduled arrival time.
Well prepared for winter season ahead
“We recently published our financial results for what has been one of the absolute strongest quarters in our 21-year history. We are well prepared for the quieter winter trading period with reduced capacity and favourable hedging position on fuel, among other actions. Our ticket sales for Christmas and New Year are solid, both domestically and to our European destinations, and I would like to thank the increasing number of Nordic travellers who choose to fly with us for leisure and business,” said Karlsen.
Norwegian recently signed an agreement with TUI, one of Europe’s leading charter travel operators, to operate flights on behalf of TUI from Norway, Sweden, and Denmark to destinations across Europe. And while current booking trends have slowed somewhat in line with seasonal fluctuations in demand, the ticket sales for the coming months remain encouraging, both for leisure and business travels.
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 November 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 6 November 2023 at 08:00 CET.
Norwegian delivered a profit before tax (EBT) of NOK 2,050 million in the third quarter of 2023, the second-best quarterly result in the 21-year history of the company. Norwegian has had a very strong summer, both operationally and financially, and also delivered best-in-class on punctuality and regularity in Europe.
For the third quarter of 2023, Norwegian delivered an operating profit (EBIT) of NOK 2,170 million, corresponding to an EBIT margin of 25 percent. This is the highest operating profit in company history after the third quarter of 2019, when the fleet was about twice as large. Profit before tax (EBT) amounted to NOK 2,050 million. The liquidity position increased to NOK 9.4 billion, while the company also repaid the NAS13 bond as part of the ongoing process to ensure that the company has a capital structure fit-for-purpose. At quarter-end, Norwegian's fleet comprised 85 aircraft.
Norwegian had 6.5 million passengers in the quarter, up from 6.1 million passengers in the third quarter of 2022. Production (ASK) was 10.4 billion seat kilometres, while passenger traffic (RPK) was 9.1 billion seat kilometres. Production was up 20 percent from the previous quarter as Norwegian ramped up capacity into the summer, the busiest travel season of the year. The quarterly load factor was 87.4 percent, compared to 88.8 percent in the same period last year.
Best-in-class on regularity and punctuality in Europe
Punctuality, share of flights departing on schedule, was 80.1 percent in the quarter, up from 73.6 percent in the same period last year. Compiled monthly data from Cirium, the global aviation consultancy, places Norwegian as one of the top three most punctual airlines in Europe. Regularity, share of flights taking place, was 99.6 percent, the highest regularity in close to two years.
"Thanks to the outstanding effort of the entire Norwegian team, we can look back at one of the best quarters in our 21-year history. I am very satisfied that our financial results are strong. We have also delivered an operational performance as one of the absolute top airlines in Europe with a remarkably low number of cancellations and strong on-time performance. Positive feedback from customers shows that Norwegian is the airline they can trust, which is something everyone at Norwegian has worked towards. We were also able to serve all customers the Norwegian way, solely relying on our own crew and aircraft to ensure that they got the Norwegian experience throughout the whole journey. I am confident that we are well prepared to enter into the quieter winter trading period with reduced capacity among other actions," said Geir Karlsen, CEO of Norwegian.
Well prepared for winter season and beyond
Norwegian's customers highly value the airline's strong punctuality and the attractive and growing route network. The anticipated acquisition of Widerøe and the launch of a joint platform for loyalty programmes with attractive partners together with Strawberry will further ensure that Norwegian remains a preferred travel partner throughout the Nordics.
"While many consumers are impacted by the current high inflation and interest rates, our customers continue to prioritise air travel. Current ticket sales are slightly reduced as expected in accordance with seasonality. Nevertheless, we continue to attract an increasing number of Nordic travellers who wish to fly with Norwegian, both for leisure and corporate purposes," said Karlsen.
For the summer of 2024, Norwegian plans to increase its fleet to approximately 90 aircraft. The initial summer schedule is now on sale, while additional routes to new destinations will be announced later this month.
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, 2 November 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 2 November 2023 at 07:00 CET.
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 1,522,769,547 (the "New Capital Perpetual Bonds").
The Company has received conversion notices from bondholders representing NOK 1,945,730, which pursuant to standard terms set out in the bond terms are convertible into 207,212 new shares in the Company.
Following the conversion, the Company has New Capital Perpetual Bonds in issue in the nominal amount of NOK 1,520,823,817. The remaining New Capital Perpetual Bonds may be converted into approximately 162.0 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 20,721.20 by issue of 207,212 shares. The capital increase pertaining to the conversion of the New Capital Perpetual Bonds has today been registered in the Norwegian Register of Business Enterprises (Norwegian: Foretaksregisteret). The Company’s new share capital is NOK 96,177,090.60 divided into 961,770,906 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, 27 October 2023
Norwegian Air Shuttle ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Norwegian will release the financial results for the third quarter of 2023 on Thursday 2 November 2023. 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 CET at House of Oslo, Ruseløkkveien 34, 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, 26 October 2023
In September, Norwegian had a passenger count of more than 2 million passengers. The regularity was 99.7 percent, the highest level since the pandemic.
“September was yet another good month for Norwegian. We had more than two million passengers and our operational performance is again among the top airlines in Europe. Our recorded regularity is now at the strongest level in over 18 months, while our on-time-performance also improves further. Our solid and efficient operations provide predictability for all customers that choose to fly Norwegian, either for leisure or business purposes,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 2,030,052 passengers in September, up 8 per cent from September 2022. The capacity (ASK) was 3,208 million seat kilometres, while actual passenger traffic (RPK) was 2,696 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.60, while unit revenue including flight related ancillary revenue is estimated at NOK 0.72. In September, Norwegian operated an average of 80 aircraft with a regularity, share of scheduled flights taking place, of 99.7 percent. The majority of the few flights that Norwegian didn’t operate were due to ATC issues at London Gatwick Airport and national strikes in Italy. Punctuality, the share of flights departing within 15 minutes of scheduled time, was at 84.6 percent in September.
“As we approach the winter season, we have adjusted our operations to align with the travel patterns in the quieter winter trading period. A clear and continued trend is that our destinations in southern Europe experience continued robust demand among people from the Nordics. In addition, a new trend this autumn is the rise in popularity of city breaks to eastern Europe in particular,” said Karlsen.
New routes and tickets for next summer launched
Earlier this month, Norwegian released the tickets for the summer 2024 programme. The summer schedule starts in the end of April and runs to the end of October and offers more routes and frequencies. Additional routes to new destinations will be announced in November.
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 October 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 October 2023 at 08:00 CET.
Reference is made to the stock exchange announcement on 23 May 2023 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 28th September 2023, executives in Norwegian were granted a total of 1,243,820 share options in Norwegian Air shuttle ASA (NAS). The share options were granted as follows:
Geir Karlsen, Chief Executive Officer (CEO), has been granted share 764,183 share options. Following the grant, Karlsen holds 2,561,731 options and 651,478 shares in NAS.
Hans-Jørgen Wibstad, Chief Financial Officer (CFO), has been granted 140,897 share options. Following the grant, Wibstad holds 563,589 options and 70,000 shares in NAS.
Magnus Thome Maursund, Chief Commercial Officer (CCO), has been granted 61,642 share options. Following the grant, Thome Maursund holds 246,569 options and 3,897 shares in NAS.
Christoffer Sundby, Chief Marketing & Customer Officer (CMCO), has been granted 77,493 share options. Following the grant, Sundby holds 309,973 options and 338,859 shares in NAS.
Guro H. Poulsen, Chief People Officer (CPO), has been granted 46,966 share options. Following the grant, Poulsen holds 187,863 options and 236,808 shares in NAS.
Knut Olav Irgens Høeg, Chief IT & Business Services Officer (CIBSO), has been granted 54,011 share options. Following the grant, Irgens Høeg holds 216,043 options and 239,847 shares in NAS.
Tore Kristian Jenssen, Chief Asset Officer (CAO), has been granted 63,404 share options. Following the grant, Jenssen holds 255,315 options and zero shares in NAS.
Anne-Sissel Skånvik, Chief Communications and Public Affairs Officer (CCPAO), has been granted 35,224 share options. Following the grant, Skånvik holds 141,597 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, 29 September 2023 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 stock exchange announcements dated 6 July 2023 on the agreement by Norwegian Air Shuttle ASA ("Norwegian") to acquire Widerøe AS ("Widerøe").
The Norwegian Competition Authority (“NCA”) has today notified Norwegian that it will continue its review (“Phase II”) of the proposed acquisition of Widerøe by Norwegian. The NCA will now continue with its assessment into the potential effects of the proposed transaction to determine whether it is likely to significantly impede effective competition. The NCA has until 17 November 2023 to present its preliminary view for the parties’ comments. The final deadline for the NCAs review will expire on 3 January 2024. The NCA may however at any stage during its continued review close its investigation if it finds that the criteria for intervention are not met. Both Norwegian and Widerøe will continue to cooperate closely with the NCA and provide all relevant information in order to have the transaction approved as soon as possible.
“We take note of today’s decision by the Norwegian Competition Authority to continue its review of the acquisition and understand that the NCA wishes to use more time on examining the consequences of the transaction. Having operated side by side for many years, we believe that by acquiring Widerøe, we will be able to create a streamlined and more comprehensive offer for air travel across Norway and abroad. We strongly believe on a positive outcome in this matter,” said Geir Karlsen, CEO of Norwegian.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 15 September 2023 Norwegian Air Shuttle ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Norwegian had 2.1 million passengers and a load factor of 85.2 percent in August. Regularity was particularly high with 99.6 percent of all scheduled flights taking place. During challenging circumstances, such as the high winds and floods caused by Storm Hans in Southern Norway, as well as the air traffic troubles in the UK, Norwegian made sure travellers reached their destinations as smoothly as possible.
“Our August traffic figures were good. As autumn approaches, we are happy to see that many travellers continue to go away on holiday to our many popular destinations, while business travellers have made a comeback after the summer. Our autumn sales campaign has been well received and the booking momentum for the months ahead continues to look positive,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 2,141,613 passengers in August, up 7 per cent from August 2022. The capacity (ASK) was 3,527 million seat kilometres, while actual passenger traffic (RPK) was 3,006 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.62, while unit revenue including flight related ancillary revenue is estimated at NOK 0.74. In August, Norwegian operated an average of 80 aircraft with a regularity, share of scheduled flights taking place, of 99.6 percent. Operations were impacted by the outage at National Air Traffic Services (NATS) in the UK on 28 August, causing heavy delays and 40 percent of this month’s cancellations. Punctuality was at 82.4 percent in August, the share of flights departing within 15 minutes of scheduled time. However, 98.0 per cent of all departed flights arrived on schedule or within one hour of scheduled arrival time, the highest level so far this year.
“Unforeseen events, such as the storm “Hans” in Scandinavia and air traffic control issues in the UK affected our operations this month. I am glad that we were able to set up additional flights between Oslo and Bergen as well as Trondheim. We also managed to offer alternative flights to all our passengers to and from the UK on the day following the air traffic issues”, said Karlsen.
Solid operations and positive booking momentum
The outlook for this autumn continues to be positive. Capacity has been adjusted to meet the seasonal variation in demand for the coming winter. Norwegian is excited to release the summer program for 2024 next week, with further routes to new destinations being added in November.
“In addition to continued good sales to holiday destinations and domestic routes particularly, a lot of positive initiatives are currently coming to life at Norwegian. Our partnership with Strawberry will contribute to adding value to our passengers’ travel experiences, while the exclusive contract with the Norwegian Armed Forces demonstrates our strong value offering. We are however concerned about the potential increases in airport fees in Norway and how this may negatively impact our customers,” 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, 6 September 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 6 September 2023 at 08:00 CET.
On 25 August 2023, a total of 170,375 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 9.3384 per share.
On behalf of primary insider Geir Olav Øien, the company has purchased 480 shares. The new holding is 6,187 shares.
On behalf of primary insider Eric Holm, the company has purchased 480 shares. The new holding is 861 shares.
On behalf of primary insider Magnus Thome Maursund, the company has purchased 480 shares. The new holding is 3,897 shares.
On behalf of primary insider Katrine Gundersen, the company has purchased 517 shares. The new holding is 517 shares.
On behalf of primary insider Christoffer Sundby, the company has purchased 1,120 shares. The new holding is 338,859 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 August 2023 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 25 August 2023, a total of 170,375 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 9.3384 per share.
On behalf of primary insider Geir Olav Øien, the company has purchased 480 shares. The new holding is 6,187 shares.
On behalf of primary insider Eric Holm, the company has purchased 480 shares. The new holding is 861 shares.
On behalf of primary insider Magnus Thome Maursund, the company has purchased 480 shares. The new holding is 3,897 shares.
On behalf of primary insider Katrine Gundersen, the company has purchased 517 shares. The new holding is 517 shares.
On behalf of primary insider Christoffer Sundby, the company has purchased 1,120 shares. The new holding is 338,859 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 August 2023 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 delivered an operating profit (EBIT) of NOK 651 million in the second quarter, which was characterised by strong operational performance amidst ramping-up into the busy summer travel season. Furthermore, Norwegian and Strawberry’s new loyalty company today announced that Avida has been selected as the preferred financial partner. Together with Norwegian’s recently announced agreement to acquire Widerøe, these new partnerships will contribute to offering even better and seamless travel experiences.
For the second quarter of 2023, Norwegian delivered an operating profit (EBIT) of NOK 651 million. Profit before tax (EBT) amounted to NOK 538 million. The liquidity position improved through the quarter with cash and cash equivalents exceeding NOK 9.3 billion. At quarter-end, Norwegian's fleet comprised 81 aircraft.
High load factor and operational excellence
Norwegian had 5.6 million passengers in the quarter, up from 5.0 million passengers in the second quarter of 2022. Production (ASK) was 8.7 billion seat kilometres, while passenger traffic (RPK) was 7.3 billion seat kilometres. Production was up 44 percent from the previous quarter as Norwegian ramped up capacity ahead of the busy summer travel season. The quarterly load factor was 84.4 percent, up from 81.2 percent in the same period last year.
“This quarter has demonstrated our ability to ramp up capacity and deliver a superb operational performance to become one of the top airlines in Europe. These results have been made possible thanks to over 4,700 of our colleagues working tirelessly to ensure our passengers arrive at their destinations as smoothly as possible. By solely flying with our own aircraft and crew, we can deliver “the Norwegian way” to all our customers. Our seamless customer experience has made us one of the most loved airlines in the Nordics,” said Geir Karlsen, CEO of Norwegian.
Punctuality, share of flights departing on schedule, was 81.5 percent in the quarter, up from 78.8 percent in the same period last year. Regularity, share of flights taking place, was 99.5 percent. Cirium, the global aviation consultancy, named Norwegian the most on-time European airline in May. In April, June, and July, Norwegian finished among the top three European airlines.
“The summer season of 2023 will be one of the best in our history, and I am happy that forward bookings remain strong with business travel returning and others planning their autumn holidays,” said Karlsen.
Sustainable growth through significant partnerships
In April, Norwegian announced a landmark partnership with Norsk e-Fuel to build the world’s first full scale e-fuel plant in Mosjøen, Norway. The plant will produce sustainable aviation fuels (SAF). The partnership is estimated to secure approximately 20 percent of Norwegian’s total demand for SAF by 2030. In addition, Norwegian will invest more than NOK 50 million for a minority equity stake in the company.
In June, Norwegian announced a new partnership with Strawberry, formerly Nordic Choice Hotels, to establish a joint loyalty company, offering a shared ecosystem for loyalty programmes. The loyalty company today reached its next milestone with the announcement that KKR owned Avida Finans AB will become the preferred financial partner, developing next generation financial services to more than 7 million members. Upon completion, which is subject to certain closing conditions and regulatory approval, Norwegian and Strawberry will hold equal ownership in the loyalty company, while Avida will acquire a stake of close to 2 percent. Norwegian expects to record an associated non-recurring gain of approximately NOK 800 million upon final closing, expected to take place in the fourth quarter of 2023.
In addition, Norwegian recently won an exclusive contract with the Norwegian Armed Forces, demonstrating once more the airline’s attractive offering. Norwegian was among other things awarded the contract based on its concrete measures to reduce emissions and its ability to meet the Armed Forces high standards on providing more sustainable solutions.
Widerøe and Norwegian to deliver a better offering
In July, Norwegian announced that it had entered into an agreement to acquire Widerøe, the regional Norwegian carrier, for a cash consideration of NOK 1,125 million, subject to certain closing conditions. The transaction will create an improved customer offering with better connectivity and seamless end-to-end experience. In addition, the acquisition will be accretive to shareholders through linking the complimentary route networks together and realising significant operational synergies. Closing of the transaction, which is subject to approval by the Norwegian Competition Authority, is expected by the end of the fourth quarter of 2023.
Norwegian's customers highly value the airline's strong operational performance and the attractive and growing route network. The acquisition of Widerøe and the development of a shared ecosystem for loyalty programmes with attractive partners will further ensure that Norwegian remains a preferred travel partner throughout the Nordics.
Capital structure
Ensuring that Norwegian has a capital structure fit-for-purpose is a key priority for the Board of Directors of Norwegian. Having undergone a successful transformation since the reconstruction, Norwegian is today a strong business able to adapt to an ever-evolving trading landscape. The Board has initiated a process to ensure that the company's capital structure reflects this, a process that also looks to enable for a potential dividend distribution. As part of this process, it has been concluded to exercise the call option to redeem the NAS13 bond.
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, 24 August 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 24 August 2023 at 07:00 CET.
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES
Norwegian Air Shuttle ASA (the “Issuer”) has today given notice to Nordic Trustee AS, as the Bond Trustee in respect of NO0010996390 Norwegian Air Shuttle ASA FRN senior secured NOK 750,000,000 bonds 2021/2026 of the exercise of a Call Option for all of the Bonds, in accordance with Clause 10.2 (Voluntary early redemption – Call Option) of the terms and conditions of the Bonds (the “Bond Terms”).
The Issuer will exercise the Call Option and redeem the Bonds in whole at a price equal to 105% (one hundred and five per cent) of par, plus accrued interest on the redeemed Bonds as of the Call Option Repayment Date. The proposed Call Option Repayment Date shall be 7 September 2023 and the Relevant Record Date shall be 5 September 2023.
Norwegian will release the financial results for the second quarter and first half of 2023 on Thursday 24 August 2023. 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 CET at House of Oslo, Ruseløkkveien 34, 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/. For those attending in person, we make special note of the new location this quarter, House of Oslo.
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, 17 August 2023
Norwegian Air Shuttle is pleased to announce that the airline has been awarded a four-year contract with the Norwegian Armed Forces for the defence sector’s air travel in Norway and the Nordics. The contract, which will take effect from the first quarter of 2024, has an estimated aggregated value of approximately NOK 1 billion and covers around 250,000 travels per year.
The Norwegian Defence Logistics Organisation (FLO) awarded the contract to Norwegian based on a flexible route program, competitive pricing and sustainability requirements, including a commitment to purchase sustainable aviation fuels (SAF) for a considerable share of the defence sector’s air travel.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 9 August 2023 Norwegian Air Shuttle ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
In July, Norwegian had 2.3 million passengers. The load factor was 92.4 per cent. Capacity was at its peak for the current year and 12 per cent higher than July last year. Continued bookings throughout the month made by travel hungry Nordic customers contributed to making this a historically strong July.
“July was an outstanding month for Norwegian in terms of traffic figures. We have welcomed the highest number of passengers this year, over 100,000 more compared to July last year. Our colleagues in the air and on the ground have worked relentlessly to make sure our passengers reached their destinations safely, and as smoothly as possible, despite a few challenging situations across airports in Europe,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 2,308,417 passengers in July, up 5 per cent from July 2022. The capacity (ASK) was 3,712 million seat kilometres, while actual passenger traffic (RPK) was 3,430 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.82, while unit revenue including flight related ancillary revenue is estimated at NOK 0.96. In July, Norwegian operated an average of 79 aircraft with a regularity, share of scheduled flights taking place, of 99.5 percent. Punctuality was at 73.2 percent in July, the share of flights departing within 15 minutes of scheduled time. However, 95.3 per cent of all departed flights arrived on schedule or within one hour of scheduled arrival time.
Solid booking momentum continues
The booking momentum remains promising and while July saw many last-minute bookings by Nordic travellers longing for sunnier destinations, this trend is continuing into August. In addition, booking rates for travels in September are strong.
“The unstable weather in the Nordics this summer has clearly impacted travel patterns, and we notice continued strong bookings throughout the month. I am very pleased to see that so many travellers choose to fly with us this summer, both domestically, within the Nordics and across Europe. I would like to thank all our colleagues for their contribution to taking care of our passengers during the busiest season of the year. Our solid operational performance has been helped by exclusively serving our customers with our own fleet of aircraft and crew,” said Karlsen.
Norwegian continues to offer an attractive route network throughout the Nordics and to European beach and city destinations throughout the late summer and autumn. Norwegian’s direct route between Tromsø and Copenhagen has been well received so far. Ticket sales opened in July and the route will operate as part of next winter’s schedule.
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 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 4 August 2023 at 08:00 CET.
The following primary insiders have today purchased shares in the company:
Mr Svein Harald Øygard, Chair of the Board, has today purchased 50,000 shares at a price of NOK 10.14 per share. Following the transaction, Mr Øygard holds 1,884,281 shares in the company.
Mr Lars Boilesen, Board member, has today purchased 7,000 shares at a price of NOK 10.30 per share. Following the transaction, Mr Boilesen holds 585,424 shares in the company.
Mr Sondre Gravir, Board member, has today purchased 4,870 shares at a price of NOK 10.2821 per share. Following the transaction, Mr Gravir holds 43,922 shares in the company.
Mrs Ingrid Elvira Leisner, Board member, has through Duo Jag AS purchased 7,000 shares at a price of NOK 10.2647 per share. Following the transaction, Mrs Leisner and related parties hold 29,927 shares in the company.
Ms Kate Sherry, Board member, has today purchased 16,730 shares at a price of NOK 10.3350 per share. Following the transaction, Ms Sherry holds 16,730 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, 12 July 2023 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 1,523,191,374 (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 1,462,565,952 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 34,687,951 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 25,937,471 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 26,387 PIK Bonds, which pursuant to standard terms set out in the bond terms are convertible into 2,810 new shares in the Company.
Following the conversion, the Company has New Capital Perpetual Bonds in issue in the nominal amount of NOK 1,523,164,987, of which NOK 1,462,565,952 constitute Ordinary Conversion Bonds, NOK 34,687,951 constitute Early Conversion Bonds and NOK 25,911,084 constitute PIK Bonds. The remaining New Capital Perpetual Bonds may be converted into approximately 162.2 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 281.00 by issue of 2,810 shares. The capital increase pertaining to the conversion of the New Capital Perpetual Bonds has today been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company’s new share capital is NOK 96,152,158.20 divided into 961,521,582 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
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 Air Shuttle ASA (“Norwegian”) today announced that it has entered into a transaction agreement under which the Norwegian group will acquire Widerøe AS ("Widerøe") for a cash consideration of NOK 1,125 million subject to certain adjustments to be determined after closing.
Linking Widerøe’s wide-spanning regional route network, covering more than 40 small and medium-sized airports across Norway, with Norwegian’s attractive domestic and international routes, secures a customer offering with better connectivity and seamless end-to-end experience. The transaction will enhance Norwegian and Widerøe’s role as a critical part of the Norwegian infrastructure. For shareholders, the transaction is expected to be highly accretive through linking non-overlapping complementary route networks, enabling significant operational synergies and added diversification through Widerøe’s public service operation routes.
Both companies will continue to operate under their separate brands, and Widerøe will be organised as a separate business unit to Norwegian, independent from Norwegian´s core low-cost carrier operation. Employees will remain in existing companies under existing collective agreements.
Widerøe is a major Norwegian regional carrier, with headquarter in Bodø, Norway. Today, Widerøe has a fleet of close to 50 aircraft and holds a market share of approximately 20 percent in the Norwegian domestic market measured by number of passengers. In 2022, Widerøe reported group revenues of NOK 5.7 billion.
– This is a milestone in Norwegian aviation history. Our two airlines have operated side by side for many years and no one knows the aviation market in Norway better. With this transaction, we will now create a streamlined and more comprehensive offer, including our leading Norwegian Reward programme, for all customers throughout Norway and abroad. We look forward to offering seamless travel across our entire route networks, says Geir Karlsen, CEO of Norwegian.
– Widerøe has a close to 90-year history, and we are the guarantor of a well-functioning route network in regional Norway. Although we have a solid footprint in Norway, we are smaller in an international context. The tax level for air travel in Norway is particularly high, and this, in combination with fierce international competition, makes it difficult for a smaller regional airline to persevere without a strong partner. We are therefore very happy to now join forces with Norwegian, and we are excited to get an industrial owner that aspires to develop both companies further. We are convinced that this solution is in the best interest of Widerøe, our employees, and not the least our customers, says Stein Nilsen, CEO of Widerøe.
Transaction rationale
The transaction is expected to provide significant benefits for travellers, employees and shareholders, and to strengthen the combined Norwegian and Widerøe as a key part of critical domestic infrastructure, including as follows:
• Expanding the reach of Norwegian’s low-cost offering into regional Norway, offering travellers more destinations at attractive fares and improved end-to-end travel experience • Supporting Norwegian´s strategic objective of gaining market share in the business segment, dampening seasonality, adding additional inbound travel to the Nordics, increasing resilience and strengthening international partnerships • Enhancing Widerøe’s long-term competitiveness through operational scale benefits as well as robust industrial and financial backing • Widerøe employees becoming part of a stronger, combined group with career opportunities under both brands and across more locations • Improved capacity to invest in sustainability and green aviation • Strategic and operational benefits from complementary route networks and business areas • Material cost synergies from procurement scale, cost efficiencies and operational best-practice
In order to harness certain highly accretive cost efficiencies, some integration related to asset and optimisation of networks are expected to take place. The acquisition is expected to deliver potential annual synergies of NOK 200 to 300 million. The acquisition price implies a price earnings (P/E) multiple after expected synergies in the range of 3.0 to 3.5 on historic through-the-cycle earnings. Although some one-off implementation costs are to be expected, the transaction is expected to be highly accretive to earnings capacity already from 2024.
Financing and timeline
Norwegian will finance the cash consideration of NOK 1,125 million through available funds. Widerøe’s debt facilities are intended to remain in place following the transaction. The purchase price is subject to certain adjustments after closing, including in respect to the profitability of Widerøe in 2023.
Closing of the transaction is expected by the end of the fourth quarter of 2023, and is subject to certain closing conditions, including regulatory review process from the Norwegian Competition Authorities.
ABG Sundal Collier has acted as financial advisor and BAHR has acted as legal advisor to Norwegian in connection with the transaction.
About Widerøe
Widerøe is a major Norwegian regional carrier, with a history dating back to 1934. Today, Widerøe has around 3,500 employees and holds a market share of approximately 20 percent in the domestic market in Norway measured by number of passengers. Widerøe operates a variety of routes with differing characteristics in terms of flight conditions and airport types. Routes can be divided as follows:
• Public Service Obligation (PSO) routes: Short runway and steep approach airports with harsh and complex flight conditions, typically operated by smaller, turbo-propelled aircraft • Regional routes: Mix of small and medium-sized airports with variable flight conditions operated by both turbo-propelled and jet aircraft • International routes: Selective routes from larger domestic airports, especially during the summer period. These are operated by both turbo-propelled and jet aircraft
While regional and international routes are operated commercially, Widerøe’s PSO routes are operated on Government demand. These routes are by nature less efficient as they serve smaller markets. The Government’s purchase of services is conducted through tenders. Among other requirements, tenders specify requirements as to minimum frequency and maximum ticket prices. The Government’s latest invitation to submit tenders was issued on 27 April 2023, and covers the period from April 2024 and up to October 2028. As part of the latest tender, the Government has increased the required seat capacity and lowered maximum ticket prices to strengthen the regional offering and infrastructure.
Widerøe’s fleet consists of 45 turbo propelled Bombardier Dash 8 aircraft, including 4 aircraft ordered but not yet delivered, as well as 3 Embraer E190-E2 jets (“E2 jets”). The Bombardier Dash 8 aircraft are one of very few aircraft types available that are well-equipped to serve short and steep approach runways and are therefore considered a highly valuable asset for Widerøe. Widerøe also owns and operates a ground handing operation, Widerøe Ground Handling AS, offering full services at more than 40 Norwegian airports. Furthermore, Widerøe owns a large number of properties, including garages, hangars, parking, operations and cargo buildings.
A presentation related to this transaction can be found in Norwegian’s website under Investor Relations.
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, 6 July 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 6 July 2023 at 08:30 CET.
Norwegian surpassed 2 million passengers in June which equals the highest number of passengers since July 2022. The load factor was 86 percent. Booking numbers for the summer are positive, as is the outlook for air travel demand in August and September.
“I am pleased to see that we have welcomed the highest number of passengers on our planes so far this year. We are looking forward to meeting an even larger number of passengers onboard our planes in July, the busiest travel month of the year,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 2,026,413 passengers in June, up 5 per cent from June 2022. The capacity (ASK) was 3,130 million seat kilometres, while actual passenger traffic (RPK) was 2,686 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.69, while unit revenue including flight related ancillary revenue is estimated at NOK 0.81. In June, Norwegian operated an average of 78 aircraft with a regularity, share of scheduled flights taking place, of 99.6 percent. Punctuality was at 76.4 percent in June, the share of flights departing within 15 minutes of scheduled time. However, 95.5 per cent of all departed flights arrived on schedule or within one hour of scheduled arrival time.
Capacity in June was at the highest so far this year and will continue to increase in July. The air traffic control issues at Copenhagen airport that impacted our operations in June have improved. In May, Cirium, an airline analytics company, named Norwegian the most punctual airline in Europe.
Strengthening the position as a leading airline in the Nordics
“Although our operations were impacted by air traffic control issues, particularly in Denmark and France, our punctuality, when measured by arriving within 60 minutes of our scheduled time, was satisfactory. This demonstrates our ability to perform under challenging circumstances. Demand for summer air travel has been strong, but some seats are still available for any last-minute sun seekers,” said Karlsen.
Booking numbers for August and September are positive and Norwegian continues its efforts to strengthen its position as a leading airline in the Nordics. Last month, Norwegian announced the establishment of a joint company together with Strawberry. The goal is to provide a wider selection of services to the members of the companies’ respective loyalty programmes and to invite more partners to join this collaboration. The company will create a common loyalty currency and a platform where members can earn and use loyalty points across different programmes. The entity will be jointly owned by Norwegian and Strawberry whose combined loyalty programmes have a total of around 7.5 million members in the Nordic countries. Details about the company and the loyalty currency will be made public at the launch later this year.
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 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 6 July 2023 at 07:30 CET.
Norwegian today announced that it will enter into a partnership with Strawberry (former Nordic Choice Hotels), which offers a wide range of leading hotels, restaurants and spas, including over 225 hotels across the Nordics. The companies will develop a stand-alone entity that will provide added value to the members of the companies’ respective loyalty programmes. The entity will be jointly held with Norwegian and Strawberry each retaining an equal ownership stake.
Additional parties will also be invited to join the partnership, further increasing the attractiveness for the companies’ customers, as well as those of other parties. Final closing of the transaction is expected to take place in the fourth quarter of 2023 and is subject to certain closing conditions.
The companies will hold a joint press conference with Strawberry owner and founder Petter Stordalen and Norwegian CEO Geir Karlsen at 10:00 CET at Amerikalinjen, Jernbanetorget 2 in Oslo.
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, 27 June 2023
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 27 June 2023 at 08:30 CET.
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 1,556,328,850 (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 1,495,411,077 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 34,687,951 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 26,229,822 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 32,845,125 Ordinary Conversion Bonds, and NOK 292,351 PIK Bonds, which pursuant to standard terms set out in the bond terms are convertible into 3,529,016 new shares in the Company.
Following the conversion, the Company has New Capital Perpetual Bonds in issue in the nominal amount of NOK 1,523,191,374, of which NOK 1,462,565,952 constitute Ordinary Conversion Bonds, NOK 34,687,951 constitute Early Conversion Bonds and NOK 25,937,471 constitute PIK Bonds. The remaining New Capital Perpetual Bonds may be converted into approximately 162.2 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 352,901.60 by issue of 3,529,016 shares. The capital increase pertaining to the conversion of the New Capital Perpetual Bonds has today been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company’s new share capital is NOK 96,151,877.20 divided into 961,518,772 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 23 June 2023 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 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 1,804,249,058 (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 39,687,951 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 5,000,000 Early Conversion Bonds, NOK 242,882,233 Ordinary Conversion Bonds, and NOK 37,975 PIK Bonds, which pursuant to standard terms set out in the bond terms are convertible into 26,402,573 new shares in the Company.
Following the conversion, the Company has New Capital Perpetual Bonds in issue in the nominal amount of NOK 1,556,328,850, of which NOK 1,495,411,077 constitute Ordinary Conversion Bonds, NOK 34,687,951 constitute Early Conversion Bonds and NOK 26,229,822 constitute PIK Bonds. The remaining New Capital Perpetual Bonds may be converted into approximately 165.7 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 2,640,257.30 by issue of 26,402,573 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 95,798,975.60 divided into 957,989,756 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, 14 June 2023 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 Air Shuttle ASA (NAS) har i dag, 14.06.2023, utstedt nye aksjer i forbindelse med konvertering av obligasjonslån. Som følge av dette har Sundt AS som i dag eier 94 128 088 aksjer i Norwegian Air Shuttle gått under flaggegrensen på 10%, nærmere bestemt 9,83%.
Norwegian had 1.9 million passengers and a load factor of 84 per cent in May. On routes to popular holiday destinations, the load factor was 90 percent. The airline is well prepared to welcome passengers in what is expected to be a busy summer season.
“May was another solid month for Norwegian with passenger traffic. Many of our customers took advantage of the long weekends and holidays in May to travel to popular beach and city destinations across Europe. Our load factor on these flights was 90 percent,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 1,900,211 passengers in May, up 17 per cent from May 2022. The capacity (ASK) was 2,901 million seat kilometres, while actual passenger traffic (RPK) was 2,440 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.62, while unit revenue including flight related ancillary revenue is estimated at NOK 0.74. In May, Norwegian operated an average of 74 aircraft with a regularity, share of scheduled flights taking place, of 99.7 per cent. Punctuality was at 84.9 per cent in May, the share of flights departing within 15 minutes of scheduled time. These results were achieved despite ongoing air traffic control issues at Copenhagen airport, accounting for almost half of this month’s delays and cancellations.
Looking forward to a busy summer
In May, Norwegian received its last delivery of the latest generation Boeing 737 MAX 8 aircraft ahead of the summer. Out of a total aircraft fleet of 81, the fleet now comprises 13 of this modern and fuel-efficient aircraft, which demonstrates Norwegian’s commitment to reducing emissions by renewing its fleet.
“I am very pleased that we have taken delivery of all the planned new aircraft for the summer season, as well as welcoming many new colleagues onboard. This allows us to serve our customers on Norwegian planes and operated by Norwegian crew rather than sourcing capacity via wet leases. We encourage customers who need to travel on specific dates during the busiest weeks in July to book their tickets with us soon,” 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, 6 June 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 6 June 2023 at 08:00 CET.
The Annual General Meeting of Norwegian Air Shuttle ASA was held today, 23 May 2023. 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 www.norwegian.no/om-oss/selskapet/investor-relations/annual-general/
Fornebu, 23 May 2023 Norwegian Air Shuttle ASA This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Folketrygdfondet har i dag, 22.05.2023, lånt ut 1.000.000 aksjer i Norwegian Air Shuttle ASA. Etter utlånet har Folketrygdfondet netto 45.873.605 aksjer i selskapet, tilsvarende en eierandel på 4,9%.
Folketrygdfondet har i dag, 15.05.2023, mottatt tilbakelevering av 6.300.000 aksjer i Norwegian Air Shuttle ASA. Etter tilbakelevering har Folketrygdfondet netto 46.873.605 aksjer i selskapet, tilsvarende en eierandel på 5,03%.
On 15 May 2023, a total of 122,161 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 11.7685 per share.
On behalf of primary insider Eric Holm, the company has purchased 381 shares. The new holding is 381 shares.
On behalf of primary insider Magnus Thome Maursund, the company has purchased 381 shares. The new holding is 3,417 shares.
On behalf of primary insider Geir Olav Øien, the company has purchased 381 shares. The new holding is 5,707 shares.
On behalf of primary insider Christoffer Sundby, the company has purchased 888 shares. The new holding is 337,739 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, 15 May 2023 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 has reported its results for the first quarter of 2023. The figures demonstrate Norwegian's ability to reduce capacity in the quieter winter period before ramping up towards the end of the quarter with the start of the summer programme. With strong booking numbers that continue to be encouraging, Norwegian prepares for what is expected to be one of the company’s strongest summers ever.
For the first quarter of 2023, Norwegian limited its operating loss (EBIT) to NOK 916 million. Profit before tax (EBT) amounted to a loss of NOK 992 million. The liquidity position improved through the quarter with cash and cash equivalents at quarter-end increasing to NOK 8.6 billion. At quarter-end, Norwegian's operational fleet comprised 72 aircraft.
"This quarter is a strong demonstration of our ability to adjust capacity to seasonal fluctuations in demand and to prepare well for the busy summer travel season ahead. Ahead of the summer season, we have phased in eleven latest generation aircraft and welcomed many new colleagues. I am very glad that we will not depend on wet-lease capacity this summer. Instead, we will be able to serve our customers entirely with our own aircraft and crew," said Geir Karlsen, CEO of Norwegian.
In the first quarter of 2023, Norwegian had 3.8 million passengers, up from 2.2 million in the first quarter of 2022. Production (ASK) was 6.0 billion seat kilometres, while passenger traffic was 4.9 billion seat kilometres. Production was down 13 percent from the previous quarter as Norwegian utilised its fleet flexibility to match capacity to seasonally lower demand. The quarterly load factor was 80.9 percent which shows that capacity was well adjusted to lower demand.
In 2022, Norwegian was named the most punctual airline in the Nordics, and the positive trend continues in the first quarter of 2023 despite challenging conditions, including poor weather conditions and French ATC strikes. Share of flights departing on schedule was 83.5 percent, while regularity, share of flights taking place, was 99.4 percent.
Well positioned for historically strong summer
“We are in the process of improving the customer experience at Oslo airport Gardermoen where we have welcomed 150 new colleagues to our newly established customer-facing ground handling services. This makes us well prepared, both on the ground and in the air, to welcome all passengers on board in what I believe will be the strongest summer ever for the airline,” said Karlsen.
Norwegian relaunched the award winning ‘Norwegian Reward’ loyalty programme this winter with new benefits made available to all members. Exclusive priority benefits are available to the most frequent travellers, making it even more attractive for the increasing number of corporate travellers that choose Norwegian as their preferred airline. Norwegian’s loyalty programme was recently named the best loyalty programme in Europe and Africa at the prestigious Freddie Awards.
Looking ahead to a strong 2023 and a sustainable future
Norwegian recognises its responsibility to take a leading role in the sustainable transformation of the aviation sector. In addition to the renewal of Norwegian's fleet, sustainable aviation fuel will play a vital role in securing the airline's sustainability goals. In April, the company announced a landmark strategic partnership with Norsk e-Fuel to build the world's first full-scale e-fuel plant in Mosjøen, Norway, including an investment of over NOK 50 million. The plant will produce sustainable aviation fuels (SAF), marking an important milestone towards Norwegian's target of 45 percent emissions reduction by 2030.
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, 12 May 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 12 May 2023 at 07:00 CET.
Norwegian will release the financial results for the first quarter of 2023 on Friday 12 May 2023. The report and presentation will be made available at 7:00 CET at www.norwegian.no/om-oss/selskapet/investor-relations/ and on newsweb. The Company will present the results at 8:30 CET 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 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 2023
Norwegian had 1.7 million passengers and a load factor of 83 per cent in April. Norwegian is heading into the busy spring and summer season with a continued strong booking momentum. The airline is expecting one of the strongest summers in its history. “We are satisfied with this month’s traffic figures. April is the first full month of our summer schedule with more routes and higher frequencies to our many destinations across the Nordics and Europe. We are particularly pleased with the continued strong booking momentum ahead of the summer season,” said Geir Karlsen, CEO of Norwegian. Norwegian had 1,672,455 passengers in April, up 19 per cent from April 2022. The capacity (ASK) was 2,672 million seat kilometres, while actual passenger traffic (RPK) was 2,221 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 April, Norwegian operated an average of 71 aircraft with a regularity, share of scheduled flights taking place, of 99.2 per cent. Operations were impacted by snowy weather at Oslo airport Gardermoen on 25 April, causing heavy delays and accounting for half of this month’s cancellations. Punctuality was at 83.4 per cent in April, measuring the number of flights departing within 15 minutes of scheduled time. However, 95.6 per cent of all departed flights arrived on schedule or within one hour of scheduled arrival time. Positive outlook for summer months In April, travellers took advantage of the increased range of routes and destinations during their Easter and early spring travels. The positive booking momentum continues for Norwegian in May. “We are very happy to see that an increasing number of passengers choose to fly with Norwegian and I look forward to welcoming new and old passengers onboard in what looks like will be the strongest summer ever for Norwegian. We recommend that customers who need to travel on specific dates and to particular destinations book tickets as soon as possible, as our planes are quickly filling up during the busiest travel periods”, said Karlsen.
In addition, Norwegian is currently experiencing an increased demand for air travel during the public holidays in May, particularly to Spain, Italy, and France. To meet the demand, Norwegian has added additional departures to Barcelona, Palma, and Malaga.
Norwegian and Widerøe customers can now fly on one ticket across both airlines’ networks. This marks another step towards providing seamless travel and further improving customer experience across the two airlines. For now, tickets can be purchased on Widerøe’s website and at travel agents. Norwegian will also be able to sell combined tickets on its site and app in the future.
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 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 May 2023 at 08:00 CET.
The Annual General Meeting of Norwegian Air Shuttle ASA will be held on 23 May 2023 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://dnb.lumiagm.com/169921778. 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 22 May 2023 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, 28 April 2023 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 2022, including the Environmental, Social and Governance (ESG) report, has been published today. The report is attached as a pdf file and in European Single Electronic Format (ESEF). The report is also available on Norwegian’s website.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401
Fornebu, 27 April 2023 Norwegian Air Shuttle ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Norwegian has announced a landmark partnership with Norsk e-Fuel to build the world’s first full scale e-fuel plant in Mosjøen, Norway. The plant will produce sustainable aviation fuels (SAF), marking an important milestone towards Norwegian's target of 45 percent emissions reduction by 2030.
Norwegian has signed a strategic partnership agreement with Norsk e-Fuel, with the ambition to secure long-term offtake of SAF and an equity stake in the company. The partnership will contribute to speeding up the production and availability of SAF in favour of a more sustainable aviation industry. The parties aim to finalise the detailed agreement within the next few months.
“We are moving Norwegian into the future. Our sector contributes to great value creation, both socially and economically, and we commit to significantly reducing our climate impact as we take advantage of technological advances within aviation fuel. E-fuels can become a gamechanger for aviation. The partnership with Norsk e-Fuel is a landmark agreement for Norwegian, but also a milestone for aviation in Norway. It helps us move closer to the promise we have given our customers. We want to make it possible for everyone to fly sustainably,” said Geir Karlsen, CEO of Norwegian.
The partnership with Norsk e-Fuel is estimated to secure approximately 20 percent of Norwegian’s total demand for SAF until 2030. In addition, Norwegian will invest more than NOK 50 million for a minority equity stake in the company. These measures will contribute to reaching Norwegian’s goal of a 45 percent emission reduction by 2030. They also positively impact the European aviation industry’s goal of net zero CO2 emissions by 2050.
The goal is to start producing e-fuels in Mosjøen in Northern Norway as early as 2026.
“Sustainable aviation fuels need to become both more available and less expensive. To make this a reality, the aviation industry depends on collaborating with public authorities to close the price gap between fossil fuels and e-fuels. Ultimately, e-fuels will be able to compete with and replace fossil fuels. Time is crucial and we are very eager to get started,” said Karlsen.
Norsk e-Fuel is backed by a strong group of shareholders consisting of technology pioneers and industrial experts. The company's first production facility in Mosjøen will become the world’s first full scale e-fuels production facility.
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, 24 April 2023
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Norwegian had 1.5 million passengers and a load factor of 81 percent in March. The first month of spring marks the return of the summer schedule with a considerable increase in capacity. In the meantime, Norwegian continues to experience strong booking momentum, far above the booking levels seen this time last year.
“March has been very solid month for Norwegian in terms of traffic figures. It marks the return of the summer schedule with a considerable ramp up in capacity. We very much look forward to welcoming a growing number of passengers on board over the summer months of 2023,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 1,502,366 passengers in March, up 60 percent from March 2022. The capacity (ASK) was 2,347 million seat kilometres, while actual passenger traffic (RPK) was 1,903 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.55, while unit revenue including flight related ancillary revenue is estimated at NOK 0.65. In March, Norwegian operated an average of 67 aircraft with a regularity, share of scheduled flights taking place, of 99.2 percent. Despite both challenging weather conditions and significant labour action affecting air traffic across Europe, punctuality was at 81 percent in March, measuring the number of flights departing within 15 minutes of scheduled time. However, 95 percent of all departed flights arrived on schedule or within one hour of scheduled arrival time.
Strong booking rate exceeding 2022
Norwegian continues to experience solid demand for air travel with a persistently strong booking momentum.
“We are heading into the summer season with a positive outlook. Our booking numbers are significantly higher than at this point last year. This indicates a continued strong demand for air travel, particularly to our many attractive beach destinations, and we expect a busy summer once more. We are very happy to see that a growing number of travellers continue to choose Norwegian as their preferred airline,” said Karlsen.
To prepare for the summer season, Norwegian recently insourced parts of the ground handling service at Oslo airport Gardermoen with 150 new colleagues joining the company. The Norwegian Red Handling team initially manages customer facing positions at check-in, boarding and arrivals.
“We are very satisfied to see that the transition has gone smoothly. Insourcing of ground handling services at our largest base is an important step in bringing key functions in-house to deliver better customer service and a more seamless travel experience,” said Karlsen.
With an expanded route network, Norwegian also continues to recruit new cabin crew and is currently busy taking in several new modern and fuel-efficient aircraft. Ahead of the summer 2023 season, Norwegian will take delivery of a total of 11 modern and fuel-efficient Boeing 737 MAX 8 aircraft.
With this year’s summer programme, Norwegian offers more than 300 routes to 114 destinations, including several new 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, 11 April 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 11 April 2023 at 08:00 CET.
Norwegian had 1.2 million passengers and a load factor of 84 percent in February. The airline experienced high demand for winter holiday travels and is currently preparing to welcome both corporate and leisure passengers as it ramps up capacity when moving from the winter to summer schedule.
In February, Norwegian had 1.2 million passengers, an increase of 83 percent from this month last year. The load factor was 84 percent. Many Nordic travellers took advantage of the winter holidays, flying with Norwegian to warmer places in the Mediterranean and popular winter destinations in the Alps. In addition, a high number of travellers used the winter break to book their Easter travels, long weekends in May and summer holiday flights with Norwegian.
“We are satisfied with the traffic figures this past month, and we are particularly pleased with a load factor of 84 percent. This demonstrates Norwegian’s ability to offer an attractive product to passengers throughout the year, even during the seasonally slower winter months. High load factors also increase our fuel efficiency, an important parameter from a sustainability perspective,” said Geir Karlsen, CEO of Norwegian.
Norwegian had 1,173,408 passengers in February, up 83 percent from February 2022. The capacity (ASK) was 1,826 million seat kilometres, while actual passenger traffic (RPK) was 1,530 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.54, while unit revenue including flight related ancillary revenue is estimated at NOK 0.64. In February, Norwegian operated an average of 64 aircraft and 99.4 percent of the scheduled flights were completed. Punctuality, the number of flights departing within 15 minutes of scheduled time, was at 85.4 percent in February.
Ramping up for the summer schedule
“We are eager and well prepared to head into the summer. Our summer schedule starts rolling from the end of March, and we are currently busy taking in new aircraft and new colleagues to match the strong demand we see in our bookings. In addition to being a highly appreciated airline amongst leisure travellers, we continue to experience a solid demand within the business segment. This clearly demonstrates that we have an attractive offering for Nordic business and leisure travellers alike,” said Karlsen.
The delivery of modern and fuel-efficient aircraft, the hiring of new colleagues and the insourcing of customer facing roles at Oslo airport Gardermoen are among the initiatives Norwegian is undertaking to meet customers with an attractive product in the months to come.
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 March 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 6 March 2023 at 08:00 CET.
Reference is made to stock exchange announcement dated 16 December 2022 in which Norwegian Air Shuttle ASA (the “Company”) was notified that the Ministry of Climate and Environment maintained that the Company 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 and was thereby prevented to meet these obligations.
Norwegian authorities have notified the Company that suspension of payment will not be granted despite the fee being subject to legal proceedings. The Company disagrees with the authorities’ decision to enforce payment prior to a conclusion being reached through legal proceedings given the principled nature of the matter. Still, to avoid enforcement, the Company has made a payment corresponding to the fee amount of close to NOK 400 million. The Company will seek a return of this amount plus interest following a final conclusion.
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, 2 March 2023
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
On 17 February 2023, a total of 113,628 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 11.5157 per share.
On behalf of primary insider Eric Holm, the company has purchased 389 shares. The new holding is 3,282 shares.
On behalf of primary insider Magnus Thome Maursund, the company has purchased 389 shares. The new holding is 3,023 shares.
On behalf of primary insider Geir Olav Øien, the company has purchased 391 shares. The new holding is 5,326 shares.
On behalf of primary insider Christoffer Sundby, the company has purchased 908 shares. The new holding is 336,851 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, 20 February 2023 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 1,819,249,058 (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 54,687,951 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 15,000,000 Early Conversion Bonds, which pursuant to standard terms set out in the bond terms are convertible into 1,597,444 new shares in the Company.
Following the conversion, the Company has New Capital Perpetual Bonds in issue in the nominal amount of NOK 1,804,249,058, of which NOK 1,738,293,310 constitute Ordinary Conversion Bonds, NOK 39,687,951 constitute Early Conversion Bonds and NOK 26,267,797 constitute PIK Bonds. The remaining New Capital Perpetual Bonds may be converted into approximately 192.1 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 159,744.40 by issue of 1,597,444 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 93,158,718.30 divided into 931,587,183 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, 17 February 2023 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 has reported its results for the fourth quarter of 2022 and the preliminary full-year results for 2022. For the full-year of 2022, Norwegian delivered an operating profit (EBIT) of NOK 1,502 million. The airline limits losses before tax (EBT) to NOK 80 million in a quarter characterised by seasonally softer demand, demonstrating Norwegian's ability to adjust capacity and conserve liquidity when moving from the busy summer season and into the quieter winter trading period.
For the fourth quarter of 2022, the company delivered an operating loss of NOK 39 million. Profit before tax (EBT) amounted to negative NOK 80 million in the quarter. Continued liquidity discipline led the company to conclude the year with a cash position of NOK 7.8 billion. At year-end, the Norwegian fleet comprised of 70 aircraft.
"We now close a chapter on 2022, a year where our operations have performed well, in spite of sweeping industry challenges across European airports. For the full year, we delivered an operating profit (EBIT) of NOK 1,502 million despite record-high fuel prices and a strong US dollar," said Geir Karlsen, CEO of Norwegian.
In the fourth quarter of 2022, Norwegian had 4.6 million passengers, up from 3.1 million in the fourth quarter of 2021. Production (ASK) was 6.9 billion seat kilometres, while passenger traffic (RPK) was 5.7 billion seat kilometres. The load factor increased to 81.4 percent from 77.0 percent in the same period last year.
Most punctual Nordic airline Punctuality was impacted by challenging weather conditions at several European airports. In the fourth quarter the share of flights departing on schedule was 82.3 percent, down from 87.8 percent in the same period last year, but a significant improvement from 73.6 percent in the previous quarter. Regularity, the share of scheduled flights taking place, was 99.4 percent. Cirium, the global aviation consultancy, named Norwegian the most punctual airline in the Nordics and one of the most punctual airlines in Europe for 2022.
“Being the most punctual Nordic airline in 2022 is a true testament to the efforts of our many dedicated colleagues and an important reason for why an increasing number of customers choose to fly Norwegian, both for their leisure and corporate travels. Our New Year’s sale campaign has exceeded all expectations with more than one million seats sold in only 14 days, a strong sign of the exciting year we have ahead of us," said Karlsen.
Looking ahead to a successful 2023 Looking ahead, Norwegian is well positioned to further solidify the position as a leading Nordic airline in 2023. Norwegian has more than 300 routes for sale across the Nordics and to attractive European destinations. With strong brand loyalty, a solid organisation and robust financial situation, Norwegian is well positioned to tackle short-term fluctuations in demand and to solidify its position as a leading Nordic airline.
To meet the anticipated strong demand going forward, the company has signed a Letter of Intent (LOI) for six Boeing 737 MAX 8 aircraft on lease from Air Lease Corporation (ALC) to be delivered ahead of the summer 2023 season. These leases will help to counteract delays from Boeing for other aircraft that were originally due for delivery this spring. For the upcoming summer season, the company expects to operate a total fleet of 81 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, 16 February 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 16 February 2023 at 07:00 CET.
Norwegian will release the financial results for the fourth quarter of 2022 on Thursday 16 February 2023. The report and presentation will be made available at 7:00 CET at www.norwegian.no/om-oss/selskapet/investor-relations/ and on newsweb. The Company will present the results at 8:30 CET 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 Q4 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, 9 February 2023
Folketrygdfondet har i dag, 08.02.2023, lånt ut 1.000.000 aksjer i Norwegian Air Shuttle ASA. Etter utlånet har Folketrygdfondet netto 45.873.605 aksjer, tilsvarende 4,9 % aksjer i selskapet.
Norwegian has signed a Letter of Intent (LOI) with Air Lease Corporation (ALC) to lease six Boeing 737 MAX 8 aircraft which are in addition to the three 737 MAX 8 aircraft which Norwegian previously agreed to lease from ALC of which one has already been delivered to Norwegian. The aircraft are to be delivered in short time to Norwegian, in good time ahead of the summer 2023 season.
“The addition of these modern and fuel-efficient aircraft fits well with our fleet strategy. It will also help counteract delays from Boeing for other aircraft that were due to be delivered to Norwegian this spring,” 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.
The final agreement is subject to certain closing conditions.
For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401 Esben Tuman, Media Relations at Norwegian Air Shuttle ASA: +47 905 08 400
Fornebu, 6 February 2023 Norwegian Air Shuttle ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Norwegian headed into the new year with a strong sales campaign, 1.1 million passengers and a load factor of 78 percent in what is historically the quietest travel month of the year.
In January, Norwegian had 1.1 million passengers, an increase of 78 percent from this month last year.
“People traditionally travel less in January, instead using this time of year to book their next travels. Nevertheless, we had close to full flights to warmer destinations this month. Our New Year’s sales campaign resulted in more than one million sold seats, a satisfying start to this year’s ticket sales. We see that the positive booking trend continues also after this sale. Many of our passengers are currently planning their travels for this year’s school breaks and long weekends in May”, said Geir Karlsen, CEO of Norwegian.
This year’s summer program comprises 300 routes to 114 destinations, including several new destinations. With an expanded route network and new aircraft, Norwegian continues to recruit new colleagues.
“The past week has been very particular for the Nordic aviation sector, marked by Flyr’s bankruptcy. I strongly sympathise with the employees, customers and others affected by the situation. We would like to make sure stranded passengers reach their destinations, provided we have free seats available. We also invite employees that have been affected by the bankruptcy to apply to job vacancies at Norwegian”, said Karlsen.
Norwegian had 1,131,474 passengers in January, up 78 percent from January 2022. The load factor in January was 78 percent. The capacity (ASK) was 1,870 million seat kilometres, while actual passenger traffic (RPK) was 1,453 million seat kilometres. Unit revenue (RASK) is estimated at NOK 0.45, while unit revenue including flight related ancillary revenue is estimated at NOK 0.56. In January, Norwegian operated an average of 62 aircraft and 99.5 percent of the scheduled flights were completed. Punctuality, as measured by the number of flights departing within 15 minutes of scheduled time, was at 85.0 percent in January.
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 February 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 6 February 2023 at 08:00 CET.
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES
February 3, 2023 – Reference is made to the stock exchange release published by Norwegian Air Shuttle ASA (the “Company”) on 19:00 CET, January 30, 2023, regarding a buy-back, and an offer to buy-back, the zero-coupon senior unsecured NOK 3,714,318,301 Retained Claims Bonds maturing September 30, 2026 with ISIN 0010996457 (the "Bonds") at a price of 72.50 per cent of par value (the “Buy-Back Price”).
The offer expired at 17:00 CET, February 2, 2022, and the Company has bought bonds with aggregate nominal value of NOK 72,242,775 at the Buy-Back Price.
The Company is satisfied with the results of the buy-back, which helps to optimise the capital structure at an attractive price, and it will also reduce the finance cost for the Company.
Together with the buy-back announced on January 30, 2023, the Company now holds bonds with aggregate nominal value of NOK 484,742,775. The purchased bonds will be cancelled.
DNB Markets assisted the Company in the buy-back process.
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES
Norwegian Air Shuttle ASA (the "Company") has today bought bonds with aggregate nominal value of NOK 412.5 million of the zero-coupon senior unsecured NOK 3,714,318,301 Retained Claims Bonds maturing 30.09.2026 with ISIN 0010996457 (the "Bonds") at a price of 72.50 per cent of par value. DNB Markets (the "Manager") assisted the Company with its buy-back process.
Bondholders who have not already received this offer from the Company and who wishes to tender its Bonds may contact DNB Markets at bond.syndicate@dnb.no no later than 2 February 2023 at 17:00 CET, and the company will, subject to legal constraints including any filing or registration requirements, offer the same buy-back price to such bondholders.
Following the buy-back, the Company holds NOK 412.5 million of the bonds. The purchased bonds will be cancelled.
Important notices: The tender offer contemplated by this announcement and the distribution of this announcement and other information in connection therewith may be restricted by law in certain jurisdictions.
The Company and the Manager do not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.
The tender offer is not being made directly or indirectly in, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States of America, its territories and possessions, any State of the United States and the District of Columbia (the “United States”) or any other jurisdiction in which this would be unlawful. This includes, but is not limited to, facsimile transmission, internet delivery, e-mail, telex and telephones. Accordingly, copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or into the United States and so doing may invalidate any purported sales offer.
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 January 2023 at 19:00 CET. 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.
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.