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SALE AND LEASEBACK TRANSACTION

Press Release   •   Sep 22, 2010 02:00 BST

Norwegian Air Shuttle ASA has completed a sale and leaseback agreement with Bank of America Leasing Ireland Co., Limited (BALI) for two Boeing 737-800 aircraft.

The first aircraft will be delivered BALI on the 23rd of September and the second will be delivered medio October. At the date of delivery the aircraft will be leased back on an agreed dry lease agreement.

The lease periods are 10 years for both aircraft.

This sale and leaseback transaction constitutes a part of Norwegian’s financing strategy for the six option aircrafts called in August 2009.

Fornebu, 22. September 2010

Norwegian Air Shuttle ASA, commercially branded “Norwegian,” is a public low-cost airline noted on the Oslo Stock Exchange. The company is the second largest airline in Scandinavia, and has a route portfolio that stretches across Europe into North Africa and the Middle East. With competitive prices and customer friendly solutions and service, the company has experienced significant growth over the previous years. With more than 10.7 million passengers in 2009, Norwegian is the 3rd largest low-cost airline in Europe. The turnover in 2009 was in excess of NOK 7.3 billion. Norwegian currently operates 53 aircraft on 230 routes to 91 destinations and employes approximately 2 000 people.