{ "documentInfo": { "documentType": "https://xbrl.org/2021/xbrl-json", "features": { "xbrl:canonicalValues": true }, "namespaces": { "ifrs-full": "https://xbrl.ifrs.org/taxonomy/2024-03-27/ifrs-full", "iso4217": "http://www.xbrl.org/2003/iso4217", "nasasa": "http://norwegian.no/20251231", "scheme": "http://standards.iso.org/iso/17442", "xbrl": "https://xbrl.org/2021", "xbrli": "http://www.xbrl.org/2003/instance" }, "taxonomy": [ "http://norwegian.no/20251231/nasasa-2025-12-31.xsd" ] }, "facts": { "f-1": { "value": "3732000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-2": { "value": "37646000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-3": { "value": "3732000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-4": { "value": "1873000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-5": { "value": "3016000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-6": { "value": "1355000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-7": { "value": "2708000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-8": { "value": "1355000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-9": { "value": "2.60", "decimals": 2, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "f-10": { "value": "1.26", "decimals": 2, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "f-11": { "value": "7668000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-12": { "value": "0.80", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "f-13": { "value": "844000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-14": { "value": "31742000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RevenueFromRenderingOfPassengerTransportServices", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-15": { "value": "29619000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RevenueFromRenderingOfPassengerTransportServices", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-16": { "value": "4794000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:RevenueFromRenderingOfPassengerTransportServicesAncillary", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-17": { "value": "4561000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:RevenueFromRenderingOfPassengerTransportServicesAncillary", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-18": { "value": "1110000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherRevenue", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-19": { "value": "1136000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherRevenue", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-20": { "value": "37646000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-21": { "value": "35317000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-22": { "value": "8645000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EmployeeBenefitsExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-23": { "value": "7959000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EmployeeBenefitsExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-24": { "value": "9573000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FuelExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-25": { "value": "9377000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FuelExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-26": { "value": "4204000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:AirportAndAtcExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-27": { "value": "3465000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:AirportAndAtcExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-28": { "value": "2692000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:HandlingExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-29": { "value": "2588000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:HandlingExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-30": { "value": "1316000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepairsAndMaintenanceExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-31": { "value": "1170000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepairsAndMaintenanceExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-32": { "value": "3738000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherExpenseByNature", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-33": { "value": "3561000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherExpenseByNature", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-34": { "value": "409000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherGainsLosses", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-35": { "value": "-291000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherGainsLosses", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-36": { "value": "29759000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:OperatingExpenseOtherThanDepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossAndRentalExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-37": { "value": "28410000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:OperatingExpenseOtherThanDepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossAndRentalExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-38": { "value": "7887000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:ProfitLossFromOperatingActivitiesBeforeInterestTaxDepreciationAmortisationAndRestructuringOrRentalExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-39": { "value": "6907000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:ProfitLossFromOperatingActivitiesBeforeInterestTaxDepreciationAmortisationAndRestructuringOrRentalExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-40": { "value": "4155000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:DepreciationAndAmortisationExpenseAndRentalExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-41": { "value": "5034000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:DepreciationAndAmortisationExpenseAndRentalExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-42": { "value": "3732000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-43": { "value": "1873000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-44": { "value": "304000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RevenueFromInterest", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-45": { "value": "368000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RevenueFromInterest", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-46": { "value": "1271000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-47": { "value": "1135000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestExpense", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-48": { "value": "249000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherFinanceIncomeCost", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-49": { "value": "259000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherFinanceIncomeCost", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-50": { "value": "-717000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceIncomeCost", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-51": { "value": "-508000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceIncomeCost", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-52": { "value": "1000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-53": { "value": "-9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-54": { "value": "3016000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-55": { "value": "1355000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-56": { "value": "308000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-57": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-58": { "value": "2708000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-59": { "value": "1355000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-60": { "value": "2.60", "decimals": 2, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "f-61": { "value": "1.26", "decimals": 2, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "f-62": { "value": "2.49", "decimals": 2, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "f-63": { "value": "1.20", "decimals": 2, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "f-64": { "value": "2708000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-65": { "value": "1355000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-66": { "value": "2708000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-67": { "value": "1355000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-68": { "value": "-348000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnCashFlowHedgesNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-69": { "value": "-36000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnCashFlowHedgesNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-70": { "value": "-344000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-71": { "value": "300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-72": { "value": "-390000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-73": { "value": "331000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-74": { "value": "-394000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-75": { "value": "295000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-76": { "value": "-53000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-77": { "value": "-45000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-78": { "value": "-53000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-79": { "value": "-45000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-80": { "value": "2261000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-81": { "value": "1604000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-82": { "value": "2261000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-83": { "value": "1604000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-84": { "value": "566000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:NonCurrentIntangibleAssetsAndGoodwill", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-85": { "value": "587000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:NonCurrentIntangibleAssetsAndGoodwill", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-86": { "value": "1692000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-87": { "value": "1842000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-88": { "value": "11570000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:PropertyPlantAndEquipmentAndNoncurrentPrepayments", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-89": { "value": "8490000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:PropertyPlantAndEquipmentAndNoncurrentPrepayments", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-90": { "value": "13221000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RightofuseAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-91": { "value": "10913000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RightofuseAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-92": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-93": { "value": "35000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-94": { "value": "28000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherNoncurrentFinancialAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-95": { "value": "38000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherNoncurrentFinancialAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-96": { "value": "51000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-97": { "value": "47000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-98": { "value": "390000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherNoncurrentReceivables", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-99": { "value": "393000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherNoncurrentReceivables", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-100": { "value": "27519000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-101": { "value": "22346000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-102": { "value": "566000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-103": { "value": "502000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-104": { "value": "3129000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-105": { "value": "2899000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-106": { "value": "729000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:CurrentIntangibleAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-107": { "value": "932000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:CurrentIntangibleAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-108": { "value": "29000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-109": { "value": "40000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-110": { "value": "2625000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentInvestments", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-111": { "value": "1012000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentInvestments", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-112": { "value": "7434000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-113": { "value": "9868000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-114": { "value": "14513000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-115": { "value": "15254000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-116": { "value": "42031000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-117": { "value": "37600000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-118": { "value": "25723000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IssuedCapitalAndSharePremium", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-119": { "value": "25844000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IssuedCapitalAndSharePremium", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-120": { "value": "-18055000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:RetainedEarningsOtherReservesAdditionalPaidInCapitalAndPerpetualBondsAttributableToOwnersOfParent", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-121": { "value": "-18603000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:RetainedEarningsOtherReservesAdditionalPaidInCapitalAndPerpetualBondsAttributableToOwnersOfParent", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-122": { "value": "7668000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-123": { "value": "7241000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-124": { "value": "418000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-125": { "value": "327000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-126": { "value": "4077000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:OtherLongTermProvisionsForPeriodicMaintenance", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-127": { "value": "4554000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:OtherLongTermProvisionsForPeriodicMaintenance", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-128": { "value": "65000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-129": { "value": "66000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-130": { "value": "3782000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-131": { "value": "2948000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-132": { "value": "11930000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLeaseLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-133": { "value": "9301000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLeaseLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-134": { "value": "63000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-135": { "value": "38000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-136": { "value": "20335000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-137": { "value": "17234000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-138": { "value": "2065000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShorttermBorrowings", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-139": { "value": "1805000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShorttermBorrowings", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-140": { "value": "1774000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLeaseLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-141": { "value": "2024000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLeaseLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-142": { "value": "5520000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-143": { "value": "4860000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-144": { "value": "4396000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:CurrentAirTrafficSettlementLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-145": { "value": "4143000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:CurrentAirTrafficSettlementLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-146": { "value": "167000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-147": { "value": "233000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-148": { "value": "107000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-149": { "value": "61000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-150": { "value": "14028000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-151": { "value": "13125000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-152": { "value": "34364000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-153": { "value": "30359000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-154": { "value": "42031000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-155": { "value": "37600000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-156": { "value": "96000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "f-157": { "value": "25728000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "f-158": { "value": "725000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "f-159": { "value": "1505000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "nasasa:PerpetualBondsAttributableToOwnersOfParent", "unit": "iso4217:NOK" } }, "f-160": { "value": "246000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:NOK" } }, "f-161": { "value": "-22527000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-162": { "value": "5773000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-163": { "value": "1355000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-164": { "value": "1355000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-165": { "value": "-36000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnCashFlowHedgesNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:NOK" } }, "f-166": { "value": "-36000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnCashFlowHedgesNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-167": { "value": "-45000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-168": { "value": "-45000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-169": { "value": "331000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:NOK" } }, "f-170": { "value": "331000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-171": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "f-172": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "f-173": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "f-174": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "nasasa:PerpetualBondsAttributableToOwnersOfParent", "unit": "iso4217:NOK" } }, "f-175": { "value": "295000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:NOK" } }, "f-176": { "value": "1310000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-177": { "value": "1604000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-178": { "value": "19000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IssueOfShares", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "f-179": { "value": "-19000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IssueOfShares", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "nasasa:PerpetualBondsAttributableToOwnersOfParent", "unit": "iso4217:NOK" } }, "f-180": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "nasasa:IssueOfShares", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-181": { "value": "142000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IncreaseDecreaseThroughPaymentInKindInterestOnPerpetualBonds", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "nasasa:PerpetualBondsAttributableToOwnersOfParent", "unit": "iso4217:NOK" } }, "f-182": { "value": "-142000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IncreaseDecreaseThroughPaymentInKindInterestOnPerpetualBonds", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-183": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "nasasa:IncreaseDecreaseThroughPaymentInKindInterestOnPerpetualBonds", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-184": { "value": "-141000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IncreaseDecreaseThroughInterestOnPerpetualBonds", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "nasasa:PerpetualBondsAttributableToOwnersOfParent", "unit": "iso4217:NOK" } }, "f-185": { "value": "-141000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IncreaseDecreaseThroughInterestOnPerpetualBonds", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-186": { "value": "5000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "f-187": { "value": "5000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-188": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "f-189": { "value": "19000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "f-190": { "value": "5000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "f-191": { "value": "-19000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "nasasa:PerpetualBondsAttributableToOwnersOfParent", "unit": "iso4217:NOK" } }, "f-192": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:NOK" } }, "f-193": { "value": "-142000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-194": { "value": "-137000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-195": { "value": "96000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "f-196": { "value": "25747000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "f-197": { "value": "729000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "f-198": { "value": "1486000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "nasasa:PerpetualBondsAttributableToOwnersOfParent", "unit": "iso4217:NOK" } }, "f-199": { "value": "541000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:NOK" } }, "f-200": { "value": "-21359000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-201": { "value": "7241000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-202": { "value": "2708000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-203": { "value": "2708000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-204": { "value": "-348000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnCashFlowHedgesNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:NOK" } }, "f-205": { "value": "-348000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnCashFlowHedgesNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-206": { "value": "-344000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:NOK" } }, "f-207": { "value": "-344000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-208": { "value": "-53000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-209": { "value": "-53000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-210": { "value": "-390000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:NOK" } }, "f-211": { "value": "-390000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-212": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "f-213": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "f-214": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "f-215": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "nasasa:PerpetualBondsAttributableToOwnersOfParent", "unit": "iso4217:NOK" } }, "f-216": { "value": "-394000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:NOK" } }, "f-217": { "value": "2655000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-218": { "value": "2261000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-219": { "value": "9000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IssueOfShares", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "f-220": { "value": "820000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IssueOfShares", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "f-221": { "value": "-833000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IssueOfShares", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "nasasa:PerpetualBondsAttributableToOwnersOfParent", "unit": "iso4217:NOK" } }, "f-222": { "value": "-4000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IssueOfShares", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-223": { "value": "48000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:NOK" } }, "f-224": { "value": "48000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-225": { "value": "-62000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IncreaseDecreaseThroughInterestOnPerpetualBonds", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "nasasa:PerpetualBondsAttributableToOwnersOfParent", "unit": "iso4217:NOK" } }, "f-226": { "value": "-62000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IncreaseDecreaseThroughInterestOnPerpetualBonds", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-227": { "value": "-591000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IncreaseDecreaseBuyBackOfPerpetualBonds", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "nasasa:PerpetualBondsAttributableToOwnersOfParent", "unit": "iso4217:NOK" } }, "f-228": { "value": "-247000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IncreaseDecreaseBuyBackOfPerpetualBonds", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-229": { "value": "-838000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IncreaseDecreaseBuyBackOfPerpetualBonds", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-230": { "value": "950000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "f-231": { "value": "950000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-232": { "value": "9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "f-233": { "value": "9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-234": { "value": "60000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IncreaseDecreaseThroughTransactionsWithOwnersOtherEquity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-235": { "value": "60000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:IncreaseDecreaseThroughTransactionsWithOwnersOtherEquity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-236": { "value": "9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "f-237": { "value": "-130000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "f-238": { "value": "9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "f-239": { "value": "-1486000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "nasasa:PerpetualBondsAttributableToOwnersOfParent", "unit": "iso4217:NOK" } }, "f-240": { "value": "-48000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:NOK" } }, "f-241": { "value": "-187000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-242": { "value": "-1834000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-243": { "value": "106000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "f-244": { "value": "25617000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "f-245": { "value": "738000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "f-246": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "nasasa:PerpetualBondsAttributableToOwnersOfParent", "unit": "iso4217:NOK" } }, "f-247": { "value": "99000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:NOK" } }, "f-248": { "value": "-18892000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "f-249": { "value": "7668000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-250": { "value": "3016000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-251": { "value": "1355000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-252": { "value": "35000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-253": { "value": "72000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-254": { "value": "4231000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossOtherThanNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-255": { "value": "4807000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossOtherThanNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-256": { "value": "21000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-257": { "value": "-17000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-258": { "value": "-717000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForFinanceIncomeCost", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-259": { "value": "-508000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForFinanceIncomeCost", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-260": { "value": "304000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-261": { "value": "368000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-262": { "value": "-71000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:AdjustmentsForDecreaseIncreaseInInventoriesAdjustmentsForDecreaseIncreaseInTradeAndOtherReceivablesAndAdjustmentsForIncreaseDecreaseInTradeAndOtherPayables", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-263": { "value": "326000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:AdjustmentsForDecreaseIncreaseInInventoriesAdjustmentsForDecreaseIncreaseInTradeAndOtherReceivablesAndAdjustmentsForIncreaseDecreaseInTradeAndOtherPayables", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-264": { "value": "253000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:AdjustmentsForIncreaseDecreaseInAirTrafficLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-265": { "value": "657000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:AdjustmentsForIncreaseDecreaseInAirTrafficLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-266": { "value": "-554000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:AdjustmentsForDecreaseIncreaseInOtherAssetsAndAdjustmentsForIncreaseDecreaseInOtherLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-267": { "value": "-1019000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:AdjustmentsForDecreaseIncreaseInOtherAssetsAndAdjustmentsForIncreaseDecreaseInOtherLiabilities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-268": { "value": "7840000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-269": { "value": "6946000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-270": { "value": "4946000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-271": { "value": "1171000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-272": { "value": "40000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-273": { "value": "76000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-274": { "value": "530000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-275": { "value": "139000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-276": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-277": { "value": "1000000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-278": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-279": { "value": "1020000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-280": { "value": "2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-281": { "value": "25000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-282": { "value": "464000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:PrepaymentsForAircraftClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-283": { "value": "61000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:PrepaymentsForAircraftClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-284": { "value": "-1532000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-285": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-286": { "value": "-6454000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-287": { "value": "-3215000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-288": { "value": "3402000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-289": { "value": "192000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-290": { "value": "2413000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepaymentsOfNoncurrentBorrowings", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-291": { "value": "719000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepaymentsOfNoncurrentBorrowings", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-292": { "value": "900000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepaymentsOfBondsNotesAndDebentures", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-293": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepaymentsOfBondsNotesAndDebentures", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-294": { "value": "1780000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-295": { "value": "1840000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-296": { "value": "157000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:InterestPaidOnBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-297": { "value": "141000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:InterestPaidOnBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-298": { "value": "844000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:InterestPaidOnLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-299": { "value": "749000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:InterestPaidOnLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-300": { "value": "62000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:InterestPaidOnPerpetualBondsClassifiedAsFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-301": { "value": "140000000.0", "decimals": -6, "dimensions": { "concept": "nasasa:InterestPaidOnPerpetualBondsClassifiedAsFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-302": { "value": "950000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-303": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-304": { "value": "48000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-305": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-306": { "value": "-3751000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-307": { "value": "-3397000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-308": { "value": "-2366000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-309": { "value": "334000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-310": { "value": "-68000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-311": { "value": "56000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-312": { "value": "9868000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-313": { "value": "9478000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-314": { "value": "7434000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-315": { "value": "9868000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-316": { "value": "
Note 1\u00a0 Summary of significant accounting policies
1.1\u00a0 General information
Norwegian Air Shuttle ASA and its subsidiaries (\u2018the Norwegian Group\u2019 or \u2018the group\u2019) are a low-cost airline
incorporated in Norway and headquartered at Fornebu outside of Oslo at the registered address Oksen\u00f8yveien 3,
1366 Lysaker, Norway. Norwegian Air Shuttle ASA is a public limited liability company and listed on the Oslo Stock
Exchange (Oslo B\u00f8rs).
The consolidated financial statements of Norwegian Air Shuttle ASA for the year ended 31 December 2025 were
authorised for issue by the Board of Directors on 9 April 2026. The annual general meeting, to be held 6 May
2026, has the power to amend and reissue the financial statements.
1.2\u00a0 Basis for preparation
The consolidated financial statements of Norwegian Air Shuttle ASA have been prepared in accordance with the
IFRS\u00ae Accounting Standards (IFRS) and IFRIC interpretations, as adopted by the EU and the additional
requirements of the Norwegian Accounting Act as of 31 December 2025. The consolidated financial statements
are prepared on the historical cost basis, with some exceptions, as detailed in the accounting policies set out
below.
In order to prepare financial statements in conformity with IFRS, it is necessary to apply certain critical accounting
estimates. It also requires the management to exercise its judgement when applying the group\u2019s accounting
policies. Areas involving a greater degree of judgement or complexity, or areas where assumptions and estimates
are significant to the consolidated financial statements are disclosed below. See paragraph 1.5.
The financial statements have been prepared on the going concern basis.
New standards, amendments and interpretations that are adopted:
No changes in IFRS effective for the 2025 financial statements have had a material impact this financial year.
From standards issued but not yet effective, the group expects IFRS 18 to have the most significant impact on its
consolidated financial statements. IFRS 18, which replaces IAS 1 Presentation of Financial Statements, will apply to
annual reporting periods beginning on or after 1 January 2027. The standard introduces several significant new
requirements:
\u2022 Entities must classify all income and expenses within the statement of profit or loss into five categories:
operating, investing, financing, discontinued operations, and income tax. They must also present a newly
defined subtotal for operating profit. These changes do not affect entities\u2019 net profit.
\u2022 Management-defined performance measures (MPMs) must be disclosed together in a single note within
the financial statements.
\u2022 Additional guidance has been introduced to improve consistency in how information is grouped within the
financial statements.
Furthermore, entities must use the operating profit subtotal as the starting point for preparing the statement of
cash flows under the indirect method when presenting operating cash flows.
The group is currently evaluating the implications of the new standard. This assessment focuses on potential
changes to the structure of the group\u2019s statement of profit or loss, the statement of cash flows, and the expanded
disclosure requirements relating to MPMs. The group is also reviewing how information will be grouped in the
financial statements, including the treatment of items that are presently classified as \u201cother.\u201d
Certain amounts have been reclassified in 2025 compared to the classification presented in 2024. The
reclassification affects \u201cAirport and ATC Charges\u201d, \u201cTechnical maintenance expense\u201d and \u201cOther operating
expenses\" in the Consolidated income statement. The amounts for 2024 have been reclassified to be
comparable. \"Airport and ATC charges\" and \"Technical maintenance expense\" are lower by NOK 30 million and
NOK 17 million, respectively, as presented in this report for 2024. \"Other operating expenses\" are accordingly
higher by NOK 47 million for the same period.
1.3\u00a0 Basis for consolidation and equity accounting
1.3.1\u00a0 Subsidiaries
Subsidiaries are all entities (including structured entities) over which the group has control. The group controls an
entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has
the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully
consolidated from the date on which control is transferred to the group.
The group\u2019s consolidated financial statements comprise Norwegian Air Shuttle ASA, and its subsidiaries,
presented in Note 14 in the parent company financial statements.
All intra-group balances, transactions and unrealised gains and losses on transactions between group companies
are eliminated.
1.3.2\u00a0 Changes in ownership
When the group ceases to consolidate or equity account for an investment because of loss of control, any
retained interest in the entity is remeasured to its fair value with the change in carrying amount recognised in
profit or loss. The fair value becomes the initial carrying amount for purposes of subsequently accounting for the
retained interest as an associate, joint venture or financial asset. Amounts previously recognised in other
comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the
related assets or liabilities. This may mean that amounts previously recognised in other comprehensive income
are reclassified to profit or loss.
1.4\u00a0 Foreign currency translation
The group\u2019s presentation currency is Norwegian Krone (NOK). Norwegian Air Shuttle ASA\u2019s functional currency is
NOK. Each entity of the group determines its own functional currency and items that are included in the entities\u2019
financial statements are measured in that functional currency. For consolidation purposes, the results and
financial position of all the group\u2019s entities that have a functional currency other than NOK are translated to the
closing rate at the reporting date of each month. Income and expenses for each income statement are translated
to the average exchange rate for the period, this being a reasonable approximation for estimating actual rate.
Exchange differences are recognised in comprehensive income and specified separately in equity.
Transactions in foreign currencies are initially recorded at the functional currency rate using the exchange rates
prevailing on the dates of the transactions or valuation where items are re-estimated. Monetary assets and
liabilities denominated in foreign currencies are translated to the functional currency exchange rate of the
reporting date. Any differences are recognised in the income statement. Non-monetary items that are measured
in terms of historical cost in a foreign currency are translated using the exchange rates of the dates of the initial
transactions.
Foreign currency gains and losses on operating activities are recognised within operating profit. Foreign currency
gains and losses on financing activities are recognised within net financial items.
Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and
liabilities of the foreign entity and translated at the closing rate. Any differences in exchange rates are recognised
in other comprehensive income.
1.5\u00a0 Critical accounting estimates and judgements
1.5.1\u00a0 Estimates
In preparing the consolidated financial statements, the management is required to assess judgements, estimates
and assumptions that affect the reported amounts of assets and liabilities, income and expenses. The critical
judgements and key sources of estimation uncertainty that have been made in preparing the consolidated
financial statements are detailed below. These judgements involve assumptions or estimates in light of future
events that can differentiate from what is expected.
The aircraft held under lease agreements are subject to specific redelivery conditions stated in the contracts as
well as periodic maintenance programmes as defined by the aircraft and engine manufacturers. To meet these
requirements, the group must conduct maintenance, both regularly and at the expiration of the leasing period.
Provisions are made based on the estimated costs of overhauls and maintenance. In order to estimate these
conditions, the management must make assumptions regarding expected maintenance costs. Description of
maintenance cost estimates are described in Note 25.
Impairment testing has been performed for the group\u2019s non-current assets. The recoverable amounts of cash-
generating units have been determined based on value-in-use calculations. These calculations require the use of
estimates. See Note 15 for further details.
1.5.2\u00a0 Significant judgements
Deferred tax assets are recognised for unused tax losses to the extent that taxable profits are probable. Deferred
tax liabilities are recognised when an obligation has been incurred. Significant management judgement is
required to determine the amounts of deferred tax assets that can be recognised, based on the anticipated
timing and level of future taxable profits together with future tax planning strategies. Deferred tax liabilities that
have been incurred are based on the best estimate of the likely obligation at each reporting period. These
estimates are subject to revision based on the outcome of tax audits and discussions with authorities that can
take several years to conclude. See Note 12 for further details of tax positions.
1.5.3\u00a0 Climate risks
The group is directly and indirectly exposed to climate risks. Extreme weather events due to climate changes
could potentially lead to an increase in flight cancellations, increased waiting time and cost such as fuel
consumption and de-icing. Such events and the resulting delays and cancellations could also have a material
adverse impact on the group\u2019s financial performance as a consequence of changes in the public\u2019s willingness to
travel by aircraft within Europe.
Environmental regulations will increase the group\u2019s cost base. In particular, three initiatives included in the EU\u2019s
\u2018\u2018Fit for 55\u2019\u2019 legislative package are relevant for the aviation industry: the reform of emissions trading (EU-ETS),
\u201cReFuel EU Aviation Regulation\u201d blending mandates for sustainable aviation fuels (SAF) and proposed changes to
CO2 taxes.
If the price for CO2 emission allowances in 2025 had been 1 percent higher/lower with all other variables held
constant, pre-tax profit and pre-tax equity effect for the year would have been NOK 16 million lower/higher (2024:
NOK 12 million).
In preparing these consolidated financial statements, the expected impacts of the climate related matters on the
group\u2019s results have been considered in management\u2019s profitability and cash flow forecasts, which are used in
impairment testing of non-financial assets and evaluation of the recovery of deferred tax assets. The
recoverability of those assets is considered not to be significantly affected by climate-related matters at the end
of the reporting period.
The group expects the impact of climate-related matters on the estimated economic life of its fleet to be
insignificant, as management is not aware of such regulations at the balance sheet date that would directly
prevent or limit the group\u2019s ability to use its current fleet or any related assets.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-317": { "value": "
1.1\u00a0 General information
Norwegian Air Shuttle ASA and its subsidiaries (\u2018the Norwegian Group\u2019 or \u2018the group\u2019) are a low-cost airline
incorporated in Norway and headquartered at Fornebu outside of Oslo at the registered address Oksen\u00f8yveien 3,
1366 Lysaker, Norway. Norwegian Air Shuttle ASA is a public limited liability company and listed on the Oslo Stock
Exchange (Oslo B\u00f8rs).
The consolidated financial statements of Norwegian Air Shuttle ASA for the year ended 31 December 2025 were
authorised for issue by the Board of Directors on 9 April 2026. The annual general meeting, to be held 6 May
2026, has the power to amend and reissue the financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-318": { "value": "Norwegian Air Shuttle ASA", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-319": { "value": "Norwegian Air Shuttle ASA", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-320": { "value": "Norwegian Air Shuttle ASA", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-321": { "value": "a low-cost airline", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-322": { "value": "Norway", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-323": { "value": "Norway", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-324": { "value": "Oslo", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-325": { "value": "Oksen\u00f8yveien 3, 1366 Lysaker, Norway", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-326": { "value": "public limited liability company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-327": { "value": "
1.2\u00a0 Basis for preparation
The consolidated financial statements of Norwegian Air Shuttle ASA have been prepared in accordance with the
IFRS\u00ae Accounting Standards (IFRS) and IFRIC interpretations, as adopted by the EU and the additional
requirements of the Norwegian Accounting Act as of 31 December 2025. The consolidated financial statements
are prepared on the historical cost basis, with some exceptions, as detailed in the accounting policies set out
below.
In order to prepare financial statements in conformity with IFRS, it is necessary to apply certain critical accounting
estimates. It also requires the management to exercise its judgement when applying the group\u2019s accounting
policies. Areas involving a greater degree of judgement or complexity, or areas where assumptions and estimates
are significant to the consolidated financial statements are disclosed below. See paragraph 1.5.
The financial statements have been prepared on the going concern basis.
New standards, amendments and interpretations that are adopted:
No changes in IFRS effective for the 2025 financial statements have had a material impact this financial year.
From standards issued but not yet effective, the group expects IFRS 18 to have the most significant impact on its
consolidated financial statements. IFRS 18, which replaces IAS 1 Presentation of Financial Statements, will apply to
annual reporting periods beginning on or after 1 January 2027. The standard introduces several significant new
requirements:
\u2022 Entities must classify all income and expenses within the statement of profit or loss into five categories:
operating, investing, financing, discontinued operations, and income tax. They must also present a newly
defined subtotal for operating profit. These changes do not affect entities\u2019 net profit.
\u2022 Management-defined performance measures (MPMs) must be disclosed together in a single note within
the financial statements.
\u2022 Additional guidance has been introduced to improve consistency in how information is grouped within the
financial statements.
Furthermore, entities must use the operating profit subtotal as the starting point for preparing the statement of
cash flows under the indirect method when presenting operating cash flows.
The group is currently evaluating the implications of the new standard. This assessment focuses on potential
changes to the structure of the group\u2019s statement of profit or loss, the statement of cash flows, and the expanded
disclosure requirements relating to MPMs. The group is also reviewing how information will be grouped in the
financial statements, including the treatment of items that are presently classified as \u201cother.\u201d
Certain amounts have been reclassified in 2025 compared to the classification presented in 2024. The
reclassification affects \u201cAirport and ATC Charges\u201d, \u201cTechnical maintenance expense\u201d and \u201cOther operating
expenses\" in the Consolidated income statement. The amounts for 2024 have been reclassified to be
comparable. \"Airport and ATC charges\" and \"Technical maintenance expense\" are lower by NOK 30 million and
NOK 17 million, respectively, as presented in this report for 2024. \"Other operating expenses\" are accordingly
higher by NOK 47 million for the same period.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-328": { "value": "
1.2\u00a0 Basis for preparation
The consolidated financial statements of Norwegian Air Shuttle ASA have been prepared in accordance with the
IFRS\u00ae Accounting Standards (IFRS) and IFRIC interpretations, as adopted by the EU and the additional
requirements of the Norwegian Accounting Act as of 31 December 2025. The consolidated financial statements
are prepared on the historical cost basis, with some exceptions, as detailed in the accounting policies set out
below.
In order to prepare financial statements in conformity with IFRS, it is necessary to apply certain critical accounting
estimates. It also requires the management to exercise its judgement when applying the group\u2019s accounting
policies.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-329": { "value": "
1.3\u00a0 Basis for consolidation and equity accounting
1.3.1\u00a0 Subsidiaries
Subsidiaries are all entities (including structured entities) over which the group has control. The group controls an
entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has
the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully
consolidated from the date on which control is transferred to the group.
The group\u2019s consolidated financial statements comprise Norwegian Air Shuttle ASA, and its subsidiaries,
presented in Note 14 in the parent company financial statements.
All intra-group balances, transactions and unrealised gains and losses on transactions between group companies
are eliminated.
1.3.2\u00a0 Changes in ownership
When the group ceases to consolidate or equity account for an investment because of loss of control, any
retained interest in the entity is remeasured to its fair value with the change in carrying amount recognised in
profit or loss. The fair value becomes the initial carrying amount for purposes of subsequently accounting for the
retained interest as an associate, joint venture or financial asset. Amounts previously recognised in other
comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the
related assets or liabilities. This may mean that amounts previously recognised in other comprehensive income
are reclassified to profit or loss.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-330": { "value": "
1.3.1\u00a0 Subsidiaries
Subsidiaries are all entities (including structured entities) over which the group has control. The group controls an
entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has
the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully
consolidated from the date on which control is transferred to the group.
The group\u2019s consolidated financial statements comprise Norwegian Air Shuttle ASA, and its subsidiaries,
presented in Note 14 in the parent company financial statements.
All intra-group balances, transactions and unrealised gains and losses on transactions between group companies
are eliminated.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-331": { "value": "
1.3.2\u00a0 Changes in ownership
When the group ceases to consolidate or equity account for an investment because of loss of control, any
retained interest in the entity is remeasured to its fair value with the change in carrying amount recognised in
profit or loss. The fair value becomes the initial carrying amount for purposes of subsequently accounting for the
retained interest as an associate, joint venture or financial asset. Amounts previously recognised in other
comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the
related assets or liabilities. This may mean that amounts previously recognised in other comprehensive income
are reclassified to profit or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-332": { "value": "
1.4\u00a0 Foreign currency translation
The group\u2019s presentation currency is Norwegian Krone (NOK). Norwegian Air Shuttle ASA\u2019s functional currency is
NOK. Each entity of the group determines its own functional currency and items that are included in the entities\u2019
financial statements are measured in that functional currency. For consolidation purposes, the results and
financial position of all the group\u2019s entities that have a functional currency other than NOK are translated to the
closing rate at the reporting date of each month. Income and expenses for each income statement are translated
to the average exchange rate for the period, this being a reasonable approximation for estimating actual rate.
Exchange differences are recognised in comprehensive income and specified separately in equity.
Transactions in foreign currencies are initially recorded at the functional currency rate using the exchange rates
prevailing on the dates of the transactions or valuation where items are re-estimated. Monetary assets and
liabilities denominated in foreign currencies are translated to the functional currency exchange rate of the
reporting date. Any differences are recognised in the income statement. Non-monetary items that are measured
in terms of historical cost in a foreign currency are translated using the exchange rates of the dates of the initial
transactions.
Foreign currency gains and losses on operating activities are recognised within operating profit. Foreign currency
gains and losses on financing activities are recognised within net financial items.
Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and
liabilities of the foreign entity and translated at the closing rate. Any differences in exchange rates are recognised
in other comprehensive income.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-333": { "value": "
1.5\u00a0 Critical accounting estimates and judgements
1.5.1\u00a0 Estimates
In preparing the consolidated financial statements, the management is required to assess judgements, estimates
and assumptions that affect the reported amounts of assets and liabilities, income and expenses. The critical
judgements and key sources of estimation uncertainty that have been made in preparing the consolidated
financial statements are detailed below. These judgements involve assumptions or estimates in light of future
events that can differentiate from what is expected.
The aircraft held under lease agreements are subject to specific redelivery conditions stated in the contracts as
well as periodic maintenance programmes as defined by the aircraft and engine manufacturers. To meet these
requirements, the group must conduct maintenance, both regularly and at the expiration of the leasing period.
Provisions are made based on the estimated costs of overhauls and maintenance. In order to estimate these
conditions, the management must make assumptions regarding expected maintenance costs. Description of
maintenance cost estimates are described in Note 25.
Impairment testing has been performed for the group\u2019s non-current assets. The recoverable amounts of cash-
generating units have been determined based on value-in-use calculations. These calculations require the use of
estimates. See Note 15 for further details.
1.5.2\u00a0 Significant judgements
Deferred tax assets are recognised for unused tax losses to the extent that taxable profits are probable. Deferred
tax liabilities are recognised when an obligation has been incurred. Significant management judgement is
required to determine the amounts of deferred tax assets that can be recognised, based on the anticipated
timing and level of future taxable profits together with future tax planning strategies. Deferred tax liabilities that
have been incurred are based on the best estimate of the likely obligation at each reporting period. These
estimates are subject to revision based on the outcome of tax audits and discussions with authorities that can
take several years to conclude. See Note 12 for further details of tax positions.
1.5.3\u00a0 Climate risks
The group is directly and indirectly exposed to climate risks. Extreme weather events due to climate changes
could potentially lead to an increase in flight cancellations, increased waiting time and cost such as fuel
consumption and de-icing. Such events and the resulting delays and cancellations could also have a material
adverse impact on the group\u2019s financial performance as a consequence of changes in the public\u2019s willingness to
travel by aircraft within Europe.
Environmental regulations will increase the group\u2019s cost base. In particular, three initiatives included in the EU\u2019s
\u2018\u2018Fit for 55\u2019\u2019 legislative package are relevant for the aviation industry: the reform of emissions trading (EU-ETS),
\u201cReFuel EU Aviation Regulation\u201d blending mandates for sustainable aviation fuels (SAF) and proposed changes to
CO2 taxes.
If the price for CO2 emission allowances in 2025 had been 1 percent higher/lower with all other variables held
constant, pre-tax profit and pre-tax equity effect for the year would have been NOK 16 million lower/higher (2024:
NOK 12 million).
In preparing these consolidated financial statements, the expected impacts of the climate related matters on the
group\u2019s results have been considered in management\u2019s profitability and cash flow forecasts, which are used in
impairment testing of non-financial assets and evaluation of the recovery of deferred tax assets. The
recoverability of those assets is considered not to be significantly affected by climate-related matters at the end
of the reporting period.
The group expects the impact of climate-related matters on the estimated economic life of its fleet to be
insignificant, as management is not aware of such regulations at the balance sheet date that would directly
prevent or limit the group\u2019s ability to use its current fleet or any related assets.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-334": { "value": "
1.5.3\u00a0 Climate risks
The group is directly and indirectly exposed to climate risks. Extreme weather events due to climate changes
could potentially lead to an increase in flight cancellations, increased waiting time and cost such as fuel
consumption and de-icing. Such events and the resulting delays and cancellations could also have a material
adverse impact on the group\u2019s financial performance as a consequence of changes in the public\u2019s willingness to
travel by aircraft within Europe.
Environmental regulations will increase the group\u2019s cost base. In particular, three initiatives included in the EU\u2019s
\u2018\u2018Fit for 55\u2019\u2019 legislative package are relevant for the aviation industry: the reform of emissions trading (EU-ETS),
\u201cReFuel EU Aviation Regulation\u201d blending mandates for sustainable aviation fuels (SAF) and proposed changes to
CO2 taxes.
If the price for CO2 emission allowances in 2025 had been 1 percent higher/lower with all other variables held
constant, pre-tax profit and pre-tax equity effect for the year would have been NOK 16 million lower/higher (2024:
NOK 12 million).
2.1\u00a0 Market risk
Market risk is the risk of changes in market prices, such as foreign exchange rates, jet fuel prices and interest
rates which will affect the group\u2019s income or value of its holdings of financial instruments.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-335": { "value": "
Note 2\u00a0 Financial risk
The group\u2019s activities expose it to a variety of financial risks: market risk (including currency risk, interest rate risk
and price risk), credit risk and liquidity risk. The group\u2019s overall financial risk management programme focuses on
changes and fluctuations in financial markets and seeks to minimise potential adverse effects on the group\u2019s
financial performance. The group uses derivative financial instruments to hedge certain financial risk exposures.
Financial risk management at Norwegian is carried out by the treasury function, under policies approved by the
Board of Directors. The team identifies, evaluates, and hedges financial risk in close cooperation with the group\u2019s
operating units. Financial risk management at Wider\u00f8e is carried out by the Wider\u00f8e Finance team. The Board
provides principles for overall risk management such as foreign currency risk, interest rate risk, credit risk, jet fuel
price risk, emission allowance price risk, use of derivative financial instruments and investment of excess liquidity.
2.1\u00a0 Market risk
Market risk is the risk of changes in market prices, such as foreign exchange rates, jet fuel prices and interest
rates which will affect the group\u2019s income or value of its holdings of financial instruments.
2.2\u00a0 Foreign exchange risk
A substantial part of the group\u2019s expenses is denominated in foreign currencies. The group\u2019s leases, aircraft
borrowings, maintenance, jet fuel and related expenses are mainly denominated in USD, and aircraft operation
expenses are partly denominated in EUR. The carrying amount of the group\u2019s net investments in foreign entities
and proceeds from these investments varies with changes in the foreign exchange rate. The group manages
foreign exchange risk using forward currency contracts and equivalent customary derivative financial
instruments.
Exchange rate risk sensitivity analysis
This analysis does not take into account correlation between currencies. Empirical studies confirm substantial
diversification effects across the currencies that the group is exposed to.
Effects on net currency gains (losses)
The group is exposed to currency fluctuations on financial instruments in the statement of financial position.
If NOK had been weaker by 10 percent against USD at 31 December 2025, with all other variables held constant,
pre-tax profit effect would have been affected negatively by NOK 280 million (compared to negative NOK 180
million in 2024), mainly as a result of foreign exchange losses on payables and cash and cash equivalents.
Effects due to foreign exchange translations on other comprehensive income
The group has investments in operations abroad, whose net assets are exposed to foreign currency translation
risk. Currency exposure arising from the net assets of the group\u2019s foreign operations can be material, but the
variances create a natural hedge against the group\u2019s currency exposure on operating expenses. If NOK had been
weaker by 1 percent against USD at 31 December 2025 with all other variables held constant, other
comprehensive income would have been NOK 50 million higher (2024: NOK 50 million higher).
2.3\u00a0 Cash flow and fair value interest rate risk
As the group has interest-bearing debt, the group\u2019s income and operating cash flows are dependent on changes
in the market interest rates. The group\u2019s cash flow borrowings interest rate risk arises from floating interest rate
borrowings. Floating interest rate borrowings in 2025 consist of a credit facility and aircraft financing. Borrowings
issued at fixed rates expose the group to fair value interest rate risk. Fixed interest rate borrowings consist of
aircraft financing related to four aircraft. Borrowings are denominated in USD and NOK. The group\u2019s lease
liabilities are not linked to or affected by changes in interest rates. If the floating interest rate in 2025 had been 1
percent higher/lower with all other variables held constant, pre-tax profit for the year would have been NOK 33
million lower/higher (2024: NOK 8 million).
The group measures borrowings at amortised cost. No changes in fair value of fixed rate interest rate borrowings
would be accounted for. Fair value calculations of fixed interest rate borrowings are detailed in Note 3.
2.4\u00a0 Jet fuel prices
Expenses for jet fuel represent a substantial part of the group\u2019s operating costs, and fluctuations in jet fuel prices
influence the projected cash flows. The objective of the jet fuel price risk management policy is to safeguard
against significant and sudden increases in jet fuel prices whilst retaining access to price reductions. The group
manages jet-fuel price risk using fuel derivatives.
If jet fuel prices had increased by 1 percent, with all other variables, including the hedged fuel consumption
during the year, held constant, profit before tax would have been NOK 23 million lower (2024: NOK 29 million
lower).
For further details on derivative financial instruments and hedging activities, please refer to Note 21.
2.5\u00a0 Emission allowance price risk
Expenses for emission allowances under the EU ETS scheme represent a substantial part of the group\u2019s operating
costs, and fluctuations in prices for emission allowances influence the projected cash flows.
The objective of the emission allowance price risk management policy is to safeguard against significant and
sudden increases in allowance prices whilst retaining access to price reductions. The group manages emission
allowance price risks by purchasing allowances based on actual CO2 emissions.
2.6\u00a0 Credit risk
Credit risk is managed on a group basis. Credit risk arises from cash and cash equivalents, derivative financial
instruments and deposits with banks and financial institutions, as well as credit exposures to travel agencies,
credit card acquirers and commercial customers, including outstanding receivables and committed transactions.
The utilisation of credit limits is regularly monitored. The group\u2019s policy is to maintain credit sales at a minimum
level. Sales to private customers are settled in cash or using major credit card companies.
Credit risk related to bank defaults is closely monitored and partly offset by diversifying the group\u2019s deposit
portfolio. There is re-invoicing of maintenance costs on aircraft to leasing companies, and Norwegian regularly
evaluates and assesses the value of these credits. See Note 21 for further disclosure on credit risk.
2.7\u00a0 Liquidity risk
Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability
of funding through an adequate amount of committed credit facilities and the ability to close out market
positions. The liquidity is affected by trading risks presented by current economic conditions in the aviation
sector, particularly in relation to passenger volumes and yields and the associated profitability of individual
routes. A portion of the group\u2019s sales are paid for by the customers at the time of booking and Norwegian
receives the actual payments from the credit card acquirers either at the time of booking, at the time of travel or
between these events. Delayed payments from credit card companies vary between credit card acquirers. A
reduction in credit lines with credit card acquirers will have an adverse effect on the group\u2019s liquidity. The risk
arising from receivables on credit card companies or credit card acquires are monitored closely.
The liquidity is closely monitored by the management. Management also monitors rolling forecasts of the group\u2019s
liquidity reserve, cash and cash equivalents, please refer to Note 19, on the basis of expected cash flows. The
group\u2019s liquidity management policy involves projecting cash flows and considering the level of adequate liquid
assets necessary and preparing debt financing plans. The projected cash flows are based on a detailed plan that
covers each fiscal year, as well as longer-term cash forecasting. In developing these forecasts, estimates and
judgement are made to project revenue, costs and availability of different financing sources. Assessments are
made of potential adverse effects from events outside the group\u2019s control.
The table below analyses the maturity profile of the group\u2019s financial liabilities at the reporting date. The amounts
disclosed are the contractual undiscounted cash flows:
NOK million
Less than 1
year
Between 1
and 2 years
Between 2
and 3 years
Between 3
and 5 years
Over 5 years
At 31 December 2025
Borrowings
2,293
531
467
1,044
1,513
Trade and other payables
5,520
\u2013
\u2013
\u2013
\u2013
Lease liabilities
2,684
2,498
2,114
3,764
7,234
Calculated interests on borrowings
225
197
169
237
231
Derivative contracts - payments
167
63
\u2013
\u2013
\u2013
Total financial liabilities
10,889
3,290
2,750
5,045
8,978
NOK million
Less than 1
year
Between 1
and 2 years
Between 2
and 3 years
Between 3
and 5 years
Over 5 years
At 31 December 2024
Borrowings
2,018
1,881
354
624
223
Trade and other payables
4,860
\u2013
\u2013
\u2013
\u2013
Lease liabilities
2,602
2,334
1,984
2,498
4,390
Calculated interests on borrowings
76
66
54
64
51
Derivative contracts - payments
233
38
\u2013
\u2013
\u2013
Total financial liabilities
9,790
4,319
2,392
3,187
4,665
2.8\u00a0 Capital risk management
The group\u2019s capital management policy is to have a capital structure which meets the demands of operations,
reduces cost of capital and complies with financial covenants (if any) and future investments planned by the
group.
The group will adjust debt and equity to maintain and secure an optimal capital structure by continuously
monitoring the total equity level and the equity ratio of the group. This ratio is calculated as equity divided by
total assets as presented in the consolidated statement of financial position and consolidated statement of
changes in equity.
The equity ratios at 31 December were as follows:
NOK million
2025
2024
Equity
7,668
7,241
Total assets
42,031
37,600
Equity ratio
18.2%
19.3%
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-336": { "value": "
2.2\u00a0 Foreign exchange risk
A substantial part of the group\u2019s expenses is denominated in foreign currencies. The group\u2019s leases, aircraft
borrowings, maintenance, jet fuel and related expenses are mainly denominated in USD, and aircraft operation
expenses are partly denominated in EUR. The carrying amount of the group\u2019s net investments in foreign entities
and proceeds from these investments varies with changes in the foreign exchange rate. The group manages
foreign exchange risk using forward currency contracts and equivalent customary derivative financial
instruments.
Exchange rate risk sensitivity analysis
This analysis does not take into account correlation between currencies. Empirical studies confirm substantial
diversification effects across the currencies that the group is exposed to.
Effects on net currency gains (losses)
The group is exposed to currency fluctuations on financial instruments in the statement of financial position.
If NOK had been weaker by 10 percent against USD at 31 December 2025, with all other variables held constant,
pre-tax profit effect would have been affected negatively by NOK 280 million (compared to negative NOK 180
million in 2024), mainly as a result of foreign exchange losses on payables and cash and cash equivalents.
Effects due to foreign exchange translations on other comprehensive income
The group has investments in operations abroad, whose net assets are exposed to foreign currency translation
risk. Currency exposure arising from the net assets of the group\u2019s foreign operations can be material, but the
variances create a natural hedge against the group\u2019s currency exposure on operating expenses. If NOK had been
weaker by 1 percent against USD at 31 December 2025 with all other variables held constant, other
comprehensive income would have been NOK 50 million higher (2024: NOK 50 million higher).
", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-337": { "value": "
2.6\u00a0 Credit risk
Credit risk is managed on a group basis. Credit risk arises from cash and cash equivalents, derivative financial
instruments and deposits with banks and financial institutions, as well as credit exposures to travel agencies,
credit card acquirers and commercial customers, including outstanding receivables and committed transactions.
The utilisation of credit limits is regularly monitored. The group\u2019s policy is to maintain credit sales at a minimum
level. Sales to private customers are settled in cash or using major credit card companies.
Credit risk related to bank defaults is closely monitored and partly offset by diversifying the group\u2019s deposit
portfolio. There is re-invoicing of maintenance costs on aircraft to leasing companies, and Norwegian regularly
evaluates and assesses the value of these credits. See Note 21 for further disclosure on credit risk.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-338": { "value": "
2.7\u00a0 Liquidity risk
Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability
of funding through an adequate amount of committed credit facilities and the ability to close out market
positions. The liquidity is affected by trading risks presented by current economic conditions in the aviation
sector, particularly in relation to passenger volumes and yields and the associated profitability of individual
routes. A portion of the group\u2019s sales are paid for by the customers at the time of booking and Norwegian
receives the actual payments from the credit card acquirers either at the time of booking, at the time of travel or
between these events. Delayed payments from credit card companies vary between credit card acquirers. A
reduction in credit lines with credit card acquirers will have an adverse effect on the group\u2019s liquidity. The risk
arising from receivables on credit card companies or credit card acquires are monitored closely.
The liquidity is closely monitored by the management. Management also monitors rolling forecasts of the group\u2019s
liquidity reserve, cash and cash equivalents, please refer to Note 19, on the basis of expected cash flows. The
group\u2019s liquidity management policy involves projecting cash flows and considering the level of adequate liquid
assets necessary and preparing debt financing plans. The projected cash flows are based on a detailed plan that
covers each fiscal year, as well as longer-term cash forecasting. In developing these forecasts, estimates and
judgement are made to project revenue, costs and availability of different financing sources. Assessments are
made of potential adverse effects from events outside the group\u2019s control.
The table below analyses the maturity profile of the group\u2019s financial liabilities at the reporting date. The amounts
disclosed are the contractual undiscounted cash flows:
NOK million
Less than 1
year
Between 1
and 2 years
Between 2
and 3 years
Between 3
and 5 years
Over 5 years
At 31 December 2025
Borrowings
2,293
531
467
1,044
1,513
Trade and other payables
5,520
\u2013
\u2013
\u2013
\u2013
Lease liabilities
2,684
2,498
2,114
3,764
7,234
Calculated interests on borrowings
225
197
169
237
231
Derivative contracts - payments
167
63
\u2013
\u2013
\u2013
Total financial liabilities
10,889
3,290
2,750
5,045
8,978
NOK million
Less than 1
year
Between 1
and 2 years
Between 2
and 3 years
Between 3
and 5 years
Over 5 years
At 31 December 2024
Borrowings
2,018
1,881
354
624
223
Trade and other payables
4,860
\u2013
\u2013
\u2013
\u2013
Lease liabilities
2,602
2,334
1,984
2,498
4,390
Calculated interests on borrowings
76
66
54
64
51
Derivative contracts - payments
233
38
\u2013
\u2013
\u2013
Total financial liabilities
9,790
4,319
2,392
3,187
4,665
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-339": { "value": "
Note 3\u00a0 Fair value estimation
Financial instruments which are measured in the statement of financial position at fair value, require disclosures
of fair value measurements by the following levels of fair value measurement hierarchy:
Level 1
The fair value of financial instruments traded in active markets is based on quoted market prices of the reporting
date. A market is regarded as active if quoted prices are readily and regularly available and represent actual and
regular occurring market transactions on an arm\u2019s length basis. The group had one financial instrument in this
category at 31 December 2025, financial investments in money market funds. At 31 December 2024, the group
also held an investment in Norwegian Block Exchange.
Level 2
The fair value of financial instruments that are not traded in an active market is determined by using valuation
techniques. These valuation techniques maximise the use of observable market data where it is available and rely
as little as possible on entity specific estimates. Financial instruments in level 2 include forward contracts
classified as derivatives. The fair value of forward commodity contracts is determined using mark to market values
from financial institutions.
Spot prices in the mark to market calculations are based on mid-prices as set be the financial institutions at the
reporting date. Refer to Note 21 in the group\u2019s financial statements for more information on derivates.
Level 3
If one or more of the significant inputs are not based on observable market data, specific valuation techniques
are applied. The group had two financial instruments in this category as per 31 December 2025 and 31 December
2024, investments in Norsk e-Fuel AS and Pilot Flight Academy AS. The carrying amount of the investment in Pilot
Flight Academy AS, which went bankrupt in January 2026, has been reduced by NOK 6 million in 2025.
There were no transfers between fair value hierarchy levels during the period. The group\u2019s level 3 financial
instruments are not material to the Consolidated Financial Statements, and reasonably possible changes in key
unobservable inputs, including discount rates and long\u2011term growth assumptions, would not have a significant
effect on their fair value.
The following table presents financial assets and liabilities measured at fair value at 31 December 2025:
2025
NOK million
Level 1
Level 2
Level 3
Financial assets
Derivative financial assets, non-current
\u2013
\u2013
\u2013
Derivative financial assets, current
\u2013
29
\u2013
Derivatives designated as hedging instruments
\u2013
29
\u2013
Investment financial assets, non-current
\u2013
\u2013
28
Investment financial assets, current
1,094
\u2013
\u2013
Total financial assets at fair value through profit or loss
1,094
\u2013
28
Financial liabilities
Derivative financial liabilities, non-current
\u2013
63
\u2013
Derivative financial liabilities, current
\u2013
167
\u2013
Derivatives designated as hedging instruments
\u2013
230
\u2013
The following table presents financial assets and liabilities measured at fair value at 31 December 2024:
2024
NOK million
Level 1
Level 2
Level 3
Financial assets
Derivative financial assets, non-current
\u2013
35
\u2013
Derivative financial assets, current
\u2013
40
\u2013
Derivatives designated as hedging instruments
\u2013
76
\u2013
Investment financial assets, non-current
4
\u2013
34
Investment financial assets, current
1,012
\u2013
\u2013
Total financial assets at fair value through profit or loss
1,015
\u2013
34
Financial liabilities
Derivative financial liabilities, non-current
\u2013
38
\u2013
Derivative financial liabilities, current
\u2013
233
\u2013
Derivatives designated as hedging instruments
\u2013
271
\u2013
Fair value of financial assets
In addition to investment in financial assets and derivative financial assets, all other financial assets are carried at
amortised cost.
Fair value of financial liabilities at amortised cost
All borrowings per 31 December 2025 and 2024 are measured at amortised cost. The fair value of current
borrowings approximates their carrying amount. The fair value of other non-current borrowings is not exclusively
determined based on observable market data (level 3 in fair value measurement hierarchy). Their fair value is
based on cash flows which are discounted using rates listed in Note 26.
2025
2025
2024
2024
Carrying
Carrying
NOK million
amount
Fair value
amount
Fair value
Financial assets at fair value through profit or
loss
1,122
1,122
1,050
1,050
Derivatives designated as hedging instruments
29
29
76
76
Financial assets at amortised cost
11,810
11,810
12,410
12,410
Total financial assets
12,961
12,961
13,536
13,536
Derivatives designated as hedging instruments
230
230
271
271
Financial liabilities at amortised cost
24,246
24,225
19,934
19,888
Total financial liabilities
24,476
24,456
20,206
20,159
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-340": { "value": "
Note 3\u00a0 Fair value estimation
Financial instruments which are measured in the statement of financial position at fair value, require disclosures
of fair value measurements by the following levels of fair value measurement hierarchy:
Level 1
The fair value of financial instruments traded in active markets is based on quoted market prices of the reporting
date. A market is regarded as active if quoted prices are readily and regularly available and represent actual and
regular occurring market transactions on an arm\u2019s length basis. The group had one financial instrument in this
category at 31 December 2025, financial investments in money market funds. At 31 December 2024, the group
also held an investment in Norwegian Block Exchange.
Level 2
The fair value of financial instruments that are not traded in an active market is determined by using valuation
techniques. These valuation techniques maximise the use of observable market data where it is available and rely
as little as possible on entity specific estimates. Financial instruments in level 2 include forward contracts
classified as derivatives. The fair value of forward commodity contracts is determined using mark to market values
from financial institutions.
Spot prices in the mark to market calculations are based on mid-prices as set be the financial institutions at the
reporting date. Refer to Note 21 in the group\u2019s financial statements for more information on derivates.
Level 3
If one or more of the significant inputs are not based on observable market data, specific valuation techniques
are applied. The group had two financial instruments in this category as per 31 December 2025 and 31 December
2024, investments in Norsk e-Fuel AS and Pilot Flight Academy AS. The carrying amount of the investment in Pilot
Flight Academy AS, which went bankrupt in January 2026, has been reduced by NOK 6 million in 2025.
Fair value of financial assets
In addition to investment in financial assets and derivative financial assets, all other financial assets are carried at
amortised cost.
Fair value of financial liabilities at amortised cost
All borrowings per 31 December 2025 and 2024 are measured at amortised cost. The fair value of current
borrowings approximates their carrying amount. The fair value of other non-current borrowings is not exclusively
determined based on observable market data (level 3 in fair value measurement hierarchy). Their fair value is
based on cash flows which are discounted using rates listed in Note 26.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-341": { "value": "
Note 4\u00a0 Business combinations
The acquisition method is applied when accounting for business combinations. Companies acquired or sold
during the year are included in the Consolidated Financial Statements from the date when control was achieved
until the date when control ceased.
Business acquisitions and divestments in 2025
There were no business acquisitions or divestments in 2025.
Business acquisitions and divestments in 2024
The Norwegian Group acquired 100 percent of the shares and voting rights in Wider\u00f8e AS, the parent company of
Wider\u00f8e Group (Wider\u00f8e), a regional carrier in Norway with a fleet of 48 aircraft, predominantly turboprops, on 12
January 2024. The acquisition of Wider\u00f8e enables the linking of complementary route networks, creates
significant operational synergies, and provides Norwegian with additional diversification through Wider\u00f8e\u2019s
substantial public service obligation operations. Wider\u00f8e is consolidated into the group from the acquisition date,
which was 12 January 2024.
Wider\u00f8e was acquired in a cash-only transaction for an initial purchase price of NOK 1,125 million. No cash
balances in Wider\u00f8e have been acquired and the net outflow of cash from Norwegian at the acquisition date was
NOK 1,000 million. The final purchase price, which was contingent on a number of adjustments finally determined
during 2024, had been estimated to be NOK 1,013 million at the acquisition date. The adjustment of NOK 7 million
to the estimated purchase price was recognised in Other losses (gains) in 2024 and resulted in a total cash
payment of NOK 1,020 million.
Wider\u00f8e contributed revenues of NOK 7,241 million and net profit of NOK 366 million to the group for the period
12 January to 31 December 2024. Financial information for the Norwegian Group and Wider\u00f8e would be
approximately the same if Wider\u00f8e had been acquired on 1 January 2024. Acquisition-related expenses of NOK 12
million are included in Other operating expenses in the Consolidated income statement for the reporting period
ending 31 December 2024.
The assets and liabilities recognised as a result of the acquisition are as follows:
Fair value in NOK million
2024
Deferred tax asset
39
Intangible assets \u2013 Trademark
57
Intangible assets \u2013 Website and mobile app
23
Intangible assets \u2013 Customer contracts
134
Non-current receivables and investments
32
Property, plant and equipment
292
Aircraft, parts and installation on leased aircraft
2,214
Right-of-use assets
534
Inventory
192
Trade and other receivables
588
Total assets acquired
4,105
Deferred tax liability
153
Borrowings
1,108
Pension obligations
118
Lease liabilities
491
Trade and other payables
1,341
Total liabilities acquired
3,211
Net identifiable assets acquired
894
Goodwill
119
Net assets acquired
1,013
Goodwill arising from the acquisition was recognised as of the acquisition date and represents the excess of the
purchase consideration over the fair value of the identifiable assets acquired and liabilities assumed. The goodwill
is attributable to the value of the skills and know-how of Wider\u00f8e\u2019s employees and air operating certificate as well
as the potential renewal of public service obligation contracts. None of the goodwill is expected to be deductible
for tax purposes.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-342": { "value": "
Note 4\u00a0 Business combinations
The acquisition method is applied when accounting for business combinations. Companies acquired or sold
during the year are included in the Consolidated Financial Statements from the date when control was achieved
until the date when control ceased.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-343": { "value": "
Note 5\u00a0 Interest in other entities
As at 31 December 2025, the group holds an investment in a joint venture, Spenn Group AS (Spenn).
Entity
Country
Registered office
Ownership interest
Type of investment
Spenn Group AS
Norway
Oslo
32.4%
Joint venture
NOK million
2025
2024
Opening balance 1.1
47
31
Capital increase
19
25
Share of profit (loss)
(16)
(9)
Closing balance 31.12
51
47
Fair value 31.12*
N/A
N/A
* The shares in Spenn Group AS are not traded publicly and there is no fair value readily available for the investment
In 2024, the group entered into a joint venture by selling 50 percent of the A-shares in its subsidiary Spenn Group
AS to Strawberry (formerly Nordic Choice Hotels). In 2025, Spenn Group issued new A-shares to Reitan Retail,
effectively diluting Norwegian\u2019s and Strawberry\u2019s share in the joint venture. Following the share issue, A-shares,
voting rights and board representation are divided equally among the three owning parties, and important
decisions require consensus between the owners. The investment continues to be classified as a joint venture
according to IFRS 11 and is accounted for using the equity method.
Please refer to Note 30 for further details on transactions with Spenn Group AS.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-345": { "value": "
Note 6\u00a0 Segment and revenue information
Revenue comprises the amounts that reflect the consideration to which the entity expects to be entitled in
exchange for goods and services promised to be transferred to customers in the general course of the group\u2019s
activities. Revenue is shown net of value-added tax and discounts. The group recognises revenue when the
performance obligations in the contract with the customer are satisfied.
Revenue from the airline business is generally associated with the performance obligation of the air transport
taking place. Tickets are pre-sold in advance of the air transport taking place. The group receives payment at or
shortly after time of sale, but such payments might be partly delayed until time of transport with any hold-back
imposed by credit card acquirers for security reasons. Between time of sale and time of air transport, the amounts
collected from the customers are presented under current liabilities as air traffic settlement liabilities. The value
of the resulting air traffic settlement liabilities, less any taxes collected on behalf of authorities, represents the
aggregate transaction price of performance obligations not yet satisfied.
Tickets can be purchased up to almost one year prior to the air transport taking place. The contracts with
customers hence have a duration of less than one year and the corresponding air traffic settlement liabilities will
always fall due within one year.
The time between ticket sale and time of the air transport taking place is less than one year and based on
materiality considerations the group does not recognise any financing element in relation to ticket sales.
Certain incremental distribution costs in relation to the pre-sale of tickets are capitalised between time of sale
and time of the air transport taking place. As such distribution costs are incremental and correlated with ticket
sales, experience data is collected on the size of the various elements of contract costs relative to the size of the
revenue. Such experience data together with the size of air traffic settlement liabilities give basis for capitalisation
and amortisation of the contract costs. NOK 27 million of contract costs are capitalised at 31 December 2025
(2024: NOK 24 million).
Passenger revenue
Passenger revenue is reported as traffic revenue when the air transport has been carried out and the
performance obligations hence are satisfied. The value of sold tickets which are still valid but not used by the
reporting date (amounts sold in excess of revenue recognised) is reported as air traffic settlement liability. This
liability is reduced either when the group or another airline completes the transportation or when the passenger
requests a refund.
Ancillary revenue
Ancillary revenue comprises sales of ticket-related products and services, e.g. revenue from baggage sales,
seating and premium upgrades. Most of the products and services do not have separate performance obligations
but are associated with the performance obligation of the air transport and are hence recognised as revenue at
the time of the transport. Between time of sale and time of transport such ancillary revenue items are reported as
part of the air traffic settlement liability.
Amounts paid by \u201cno-show\u201d customers are recognised as revenue when the booked service is provided, and
performance obligations are satisfied. \u2018No-show\u2019 customers with low fare tickets are not entitled to change flights
or seek refunds for other than taxes once a flight has departed.
Other revenue
Other revenue comprises of third-party revenue, such as ground handling and cargo services, commission from
in-flight sales and from the loyalty programme Norwegian Reward.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-344": { "value": "
Note 6\u00a0 Segment and revenue information
Revenue comprises the amounts that reflect the consideration to which the entity expects to be entitled in
exchange for goods and services promised to be transferred to customers in the general course of the group\u2019s
activities. Revenue is shown net of value-added tax and discounts. The group recognises revenue when the
performance obligations in the contract with the customer are satisfied.
Revenue from the airline business is generally associated with the performance obligation of the air transport
taking place. Tickets are pre-sold in advance of the air transport taking place. The group receives payment at or
shortly after time of sale, but such payments might be partly delayed until time of transport with any hold-back
imposed by credit card acquirers for security reasons. Between time of sale and time of air transport, the amounts
collected from the customers are presented under current liabilities as air traffic settlement liabilities. The value
of the resulting air traffic settlement liabilities, less any taxes collected on behalf of authorities, represents the
aggregate transaction price of performance obligations not yet satisfied.
Tickets can be purchased up to almost one year prior to the air transport taking place. The contracts with
customers hence have a duration of less than one year and the corresponding air traffic settlement liabilities will
always fall due within one year.
The time between ticket sale and time of the air transport taking place is less than one year and based on
materiality considerations the group does not recognise any financing element in relation to ticket sales.
Certain incremental distribution costs in relation to the pre-sale of tickets are capitalised between time of sale
and time of the air transport taking place. As such distribution costs are incremental and correlated with ticket
sales, experience data is collected on the size of the various elements of contract costs relative to the size of the
revenue. Such experience data together with the size of air traffic settlement liabilities give basis for capitalisation
and amortisation of the contract costs. NOK 27 million of contract costs are capitalised at 31 December 2025
(2024: NOK 24 million).
Passenger revenue
Passenger revenue is reported as traffic revenue when the air transport has been carried out and the
performance obligations hence are satisfied. The value of sold tickets which are still valid but not used by the
reporting date (amounts sold in excess of revenue recognised) is reported as air traffic settlement liability. This
liability is reduced either when the group or another airline completes the transportation or when the passenger
requests a refund.
Ancillary revenue
Ancillary revenue comprises sales of ticket-related products and services, e.g. revenue from baggage sales,
seating and premium upgrades. Most of the products and services do not have separate performance obligations
but are associated with the performance obligation of the air transport and are hence recognised as revenue at
the time of the transport. Between time of sale and time of transport such ancillary revenue items are reported as
part of the air traffic settlement liability.
Amounts paid by \u201cno-show\u201d customers are recognised as revenue when the booked service is provided, and
performance obligations are satisfied. \u2018No-show\u2019 customers with low fare tickets are not entitled to change flights
or seek refunds for other than taxes once a flight has departed.
Other revenue
Other revenue comprises of third-party revenue, such as ground handling and cargo services, commission from
in-flight sales and from the loyalty programme Norwegian Reward.
Revenue by activity and by country
The table below shows revenues from air passenger travel which is split between passenger revenue, ancillary
revenue and other revenue. Passenger related revenue per country is based on departure country of passenger
journeys regardless of arrival country.
NOK million
2025
2024
Passenger revenue
31,742
29,619
Ancillary passenger revenue
4,794
4,561
Other revenue
1,110
1,136
Total operating revenue
37,646
35,317
Other revenue includes recurring revenue related to freight, handling and de-icing services of NOK 545 million
(2024: NOK 522 million) and sales commissions of NOK 267 million (2024: NOK 279 million), in addition to revenue
related to the group\u2019s loyalty programme of NOK 171 million (2024: NOK 143 million).
The group\u2019s operating result is generated through airline-related activities and the group\u2019s main revenue
generating asset is its aircraft fleet. As the fleet is utilised across the group\u2019s different geographical segments,
there is no suitable basis for allocating such assets and related liabilities to geographical segments.
NOK million
2025
2024
Norway
18,788
17,892
Spain
4,784
4,619
Denmark
3,301
3,199
Sweden
3,231
2,797
United Kingdom
1,209
1,101
Finland
952
904
Italy
903
791
France
773
675
Germany
472
428
Greece
411
415
Other
2,823
2,496
Total operating revenue
37,646
35,317
Total outside of Norway
18,858
17,425
Segment and revenue information
Management reviews the group\u2019s internal reporting to assess performance and allocate resources. Management
has determined the operating segment based on these reports, and considers the airlines Norwegian and
Wider\u00f8e as two separate operating segments. Performance is measured by Executive Management based on the
operating segments\u2019 earnings before interest, tax, aircraft lease, depreciation and amortisation (EBITDAR). Assets
and liabilities are not reviewed separately for the individual segments by Executive Management and therefore
have not been disclosed.
The table includes separate financial information for the group and its two operating segments. Financial
information for the group and Wider\u00f8e in 2024 includes the period from the acquisition date on 12 January to 31
December, and would be approximately the same if Wider\u00f8e had been acquired on 1 January 2024.
2025
2024
NOK million
Group
Norwegian
Wider\u00f8e
Elimination
Group
Norwegian
Wider\u00f8e
Elimination
Passenger revenue
31,742
24,905
6,837
\u2013
29,619
23,419
6,200
\u2013
Ancillary passenger revenue
4,794
4,630
163
\u2013
4,561
4,403
158
\u2013
Other revenue
1,110
556
902
(349)
1,136
522
883
(269)
Total operating revenue
37,646
30,092
7,903
(349)
35,317
28,344
7,241
(269)
Personnel expenses
8,645
5,470
3,175
\u2013
7,959
4,975
2,983
\u2013
Aviation fuel
9,573
8,571
1,003
\u2013
9,377
8,448
929
\u2013
Airport and ATC charges
4,204
3,774
430
\u2013
3,465
3,129
336
\u2013
Handling charges
2,692
2,490
434
(232)
2,588
2,378
415
(205)
Technical maintenance expenses
1,316
870
465
(19)
1,170
798
373
(1)
Other operating expenses
3,738
2,747
1,090
(98)
3,561
2,594
1,029
(62)
Other losses (gains)
(409)
(416)
(7)
13
291
287
4
(1)
Total operating expenses excl lease, depr. and amort.
29,759
23,506
6,589
(336)
28,410
22,609
6,070
(269)
EBITDAR
7,887
6,586
1,314
(12)
6,907
5,736
1,171
\u2013
Aircraft lease, depreciation and amortisation
4,155
3,427
728
\u2013
5,034
4,363
672
\u2013
Operating profit (EBIT)
3,732
3,159
585
(12)
1,873
1,373
499
\u2013
Interest income
304
295
9
\u2013
368
358
10
\u2013
Interest expense
1,271
1,186
85
\u2013
1,135
1,032
103
\u2013
Other financial income (expense)
249
231
19
\u2013
259
299
(40)
\u2013
Net financial items
(717)
(660)
(57)
\u2013
(508)
(375)
(133)
\u2013
Share of net loss (profit) of joint venture
(1)
(1)
\u2013
\u2013
9
9
\u2013
\u2013
Profit (loss) before tax (EBT)
3,016
2,500
528
(12)
1,355
989
366
\u2013
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-346": { "value": "
Revenue by activity and by country
The table below shows revenues from air passenger travel which is split between passenger revenue, ancillary
revenue and other revenue. Passenger related revenue per country is based on departure country of passenger
journeys regardless of arrival country.
Segment and revenue information
Management reviews the group\u2019s internal reporting to assess performance and allocate resources. Management
has determined the operating segment based on these reports, and considers the airlines Norwegian and
Wider\u00f8e as two separate operating segments. Performance is measured by Executive Management based on the
operating segments\u2019 earnings before interest, tax, aircraft lease, depreciation and amortisation (EBITDAR). Assets
and liabilities are not reviewed separately for the individual segments by Executive Management and therefore
have not been disclosed.
The table includes separate financial information for the group and its two operating segments. Financial
information for the group and Wider\u00f8e in 2024 includes the period from the acquisition date on 12 January to 31
December, and would be approximately the same if Wider\u00f8e had been acquired on 1 January 2024.
2025
2024
NOK million
Group
Norwegian
Wider\u00f8e
Elimination
Group
Norwegian
Wider\u00f8e
Elimination
Passenger revenue
31,742
24,905
6,837
\u2013
29,619
23,419
6,200
\u2013
Ancillary passenger revenue
4,794
4,630
163
\u2013
4,561
4,403
158
\u2013
Other revenue
1,110
556
902
(349)
1,136
522
883
(269)
Total operating revenue
37,646
30,092
7,903
(349)
35,317
28,344
7,241
(269)
Personnel expenses
8,645
5,470
3,175
\u2013
7,959
4,975
2,983
\u2013
Aviation fuel
9,573
8,571
1,003
\u2013
9,377
8,448
929
\u2013
Airport and ATC charges
4,204
3,774
430
\u2013
3,465
3,129
336
\u2013
Handling charges
2,692
2,490
434
(232)
2,588
2,378
415
(205)
Technical maintenance expenses
1,316
870
465
(19)
1,170
798
373
(1)
Other operating expenses
3,738
2,747
1,090
(98)
3,561
2,594
1,029
(62)
Other losses (gains)
(409)
(416)
(7)
13
291
287
4
(1)
Total operating expenses excl lease, depr. and amort.
29,759
23,506
6,589
(336)
28,410
22,609
6,070
(269)
EBITDAR
7,887
6,586
1,314
(12)
6,907
5,736
1,171
\u2013
Aircraft lease, depreciation and amortisation
4,155
3,427
728
\u2013
5,034
4,363
672
\u2013
Operating profit (EBIT)
3,732
3,159
585
(12)
1,873
1,373
499
\u2013
Interest income
304
295
9
\u2013
368
358
10
\u2013
Interest expense
1,271
1,186
85
\u2013
1,135
1,032
103
\u2013
Other financial income (expense)
249
231
19
\u2013
259
299
(40)
\u2013
Net financial items
(717)
(660)
(57)
\u2013
(508)
(375)
(133)
\u2013
Share of net loss (profit) of joint venture
(1)
(1)
\u2013
\u2013
9
9
\u2013
\u2013
Profit (loss) before tax (EBT)
3,016
2,500
528
(12)
1,355
989
366
\u2013
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-347": { "value": "
Note 7\u00a0 Payroll expenses and number of employees
NOK million
2025
2024
Wages and salaries
6,647
6,108
Social security tax
845
817
Pension expenses
751
655
Employee stock options
20
5
Other benefits
284
287
Hired crew personnel
98
87
Total
8,645
7,959
Payroll expenses include hired operational personnel. Some employees are participants in defined pension plans.
Please refer to Note 24 for further details.
Headcount*
Full-time equivalent
2025
2024
2025
2024
Cabin Crew
2,660
2,607
2,196
2,217
Flight Deck Crew
1,818
1,706
1,612
1,511
Non-crew
4,514
4,441
3,591
3,540
Total
8,992
8,754
7,398
7,268
Norway
6,385
6,323
5,246
5,209
Spain
1,036
961
736
702
Denmark
760
756
672
701
Sweden
310
228
214
220
Latvia
252
230
239
217
Finland
236
241
278
204
Ireland
8
8
8
8
UK
5
7
5
7
Total
8,992
8,754
7,398
7,268
* Headcount at 31.12
Note 24\u00a0 Pensions
The group operates various pension schemes. The schemes are generally funded through payments to insurance
companies or trustee-administered funds, determined by periodic actuarial calculations.
Defined benefit plans
The cost of providing benefits under defined benefit plans is determined using the projected unit credit actuarial
valuation method. The past service cost is recognised as an expense on a straight-line basis over the average
period until the benefits are vested. If the benefits are already vested immediately following the introduction of or
changes to a pension plan, past service cost is recognised immediately.
The defined benefit obligation is the aggregate of the present value of the defined benefit obligation and
actuarial gains and losses not recognised reduced by past service costs not yet recognised and the fair value of
plan assets out of which the obligations are to be settled directly. If such aggregate is negative, the asset is
measured at the lower of such aggregate or at the aggregate of cumulative unrecognised net actuarial losses and
past service cost and the present value of any economic benefits available in the form of refunds from the plan or
reductions in the future contributions to the plan.
The group offers early retirement plans (AFP) to employees in Norway in multi-employer defined benefit plans.
Two of the plans which are offered to crew are accounted for as defined benefit plans. The net recognised
pension liability as at 31 December 2025 is based on historical average of actual withdrawals from the scheme. An
early retirement plan for all employees in Norway is recognised in the income statement as a defined contribution
plan as the plan\u2019s administrator has not allocated actuarial gains (losses) to the members of the AFP pension plan
at 31 December 2025
Defined contribution plans
In addition to the defined benefit plan described above, the group operates a defined contribution plan. A
defined contribution plan is a pension plan under which the group pays fixed contributions to a separate entity.
The group has no legal or constructive obligations to pay further contributions should the fund not hold sufficient
assets to pay all employees the benefits relating to employee service in the current and prior periods. The
contributions are recognised as employee benefit expenses when they are due. Prepaid contributions are
recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.
The group operated defined contribution plans in Norway, Denmark, Sweden, Finland, Ireland, UK, Spain and
Latvia, and defined benefit plans in Norway.
The defined contribution plans require that the group pays premiums to public or private administrative pension
plans on a mandatory, contractual or voluntary basis. The group has no further obligations once these premiums
are paid. The premiums are accounted for as personnel expenses as soon as they are incurred. Pre-paid
premiums are accounted for as an asset to the extent that future benefits can be determined as plausible.
Defined contribution plans comply with local pension legislation.
Pension expenses on defined contribution plans are NOK 672 million in 2025 (2024: NOK 615 million).
Defined benefit plan
As per 31 December 2025, 1,169 employees were active members of defined benefit plan (2024: 1,286) and 534
were on pension retirement (2024: 318). The related pension liability is recognised at NOK 418 million (2024: NOK
327 million).
The pension plans are in compliance with the Occupational Pensions Act and actuarial calculations comply with
IAS 19.
The mortality and disability estimates are based on up-to-date mortality tables K2013 BE.
Pension expense
2025
2024
NOK million
Funded
Unfunded
SUM
Funded
Unfunded
SUM
Net present value of benefits
earned
21
20
42
23
3
26
Interest cost on pension liability
8
3
11
6
2
8
Administrative expenses
1
\u2013
1
1
\u2013
1
Recognised settlement
\u2013
19
19
\u2013
\u2013
\u2013
Social security tax
4
2
6
4
\u2013
5
Net pension expense defined
benefit plans
34
45
79
34
6
40
Pension expense on defined
contribution plans
580
28
608
508
47
555
Social security tax
60
4
64
54
7
60
Total pension expense
674
78
751
595
60
655
Change in present value of defined benefit liability:
2025
2024
NOK million
Funded
Unfunded
SUM
Funded
Unfunded
SUM
Gross pension liability 1 January
668
97
765
541
\u2013
541
Addition from business combination
\u2013
\u2013
\u2013
86
94
181
Current service costs
25
43
69
27
4
31
Interest cost
25
3
28
20
2
22
Actuarial gains (losses)
20
44
64
6
25
31
Benefits paid
(10)
(20)
(31)
(5)
(28)
(33)
Social security on payments to plan
(4)
\u2013
(4)
(7)
\u2013
(7)
Gross pension liability 31 December
724
167
890
668
97
765
Change in fair value of plan assets:
Fair value of pension assets 1 January
438
\u2013
438
331
\u2013
331
Addition from business combination
\u2013
\u2013
\u2013
63
\u2013
63
Expected return
17
\u2013
17
13
\u2013
13
Actuarial gains (losses)
(6)
\u2013
(6)
(14)
\u2013
(14)
Contributions paid
35
\u2013
35
57
\u2013
57
Benefits paid
(7)
\u2013
(7)
(4)
\u2013
(4)
Social security on payments to plan
(4)
\u2013
(4)
(7)
\u2013
(7)
Fair value of plan assets 31 December
472
\u2013
472
438
\u2013
438
Net recognised pension liability 31 December
251
167
418
230
97
327
2025
2024
Funded
Unfunded
Funded
Unfunded
Actual return on pension funds
3.9-4.0%
0.0%
3.3-3.9%
0.0%
Expected contribution to be paid next year
40
\u2013
68
\u2013
The net pension liability was based on several assumptions. The discount rate was based on covered bonds. The
pension liability\u2019s average duration was 11 years. Wage adjustments, pension adjustments and the expected
increase in state pensions were based on the Accountancy foundations pension assumption, and an expected
long-term inflation rate of 2 percent.
2025
2024
Funded
Unfunded
Funded
Unfunded
Discount rate
3.9-4.0 %
4.0%
3.3%
3.3%
Expected return on pension funds
0.0-4.0 %
\u2013%
1.9%
\u2013%
Wage adjustments
4.0%
4.0%
3.5-4.0 %
3.5%
Increase of social security base amount (G)
3.8%
3.8%
3.3-3.8 %
3.3%
Future pension increase
2.7-2.8 %
3.8%
1.9-2.4 %
3.3%
Average turnover
0.0-8.0 %
0.0-8.0 %
0.0-8.0 %
0.0-8.0 %
The group\u2019s pension fund was invested in the following instruments (on 31 December 2025 and 2024):
2025
2024
Funded
Funded
Equity
15.5%
13.2%
Bonds
3.0%
5.7%
Money market funds
8.0%
8.5%
Hold-to maturity bonds
56.6%
54.5%
Real estate
10.6%
10.8%
Various
6.4%
7.4%
NOK million
2025
2024
2023
2022
2021
Present value of defined benefit obligation
890
768
541
498
458
Fair value of plan assets
472
438
331
296
252
Deficit (surplus) in the plan
418
327
210
202
206
Experience adjustments on plan liabilities
64
31
10
14
(13)
Experience adjustments on plan assets
(6)
(14)
(11)
7
1
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-348": { "value": "
Note 8\u00a0 Remuneration of the Board of Directors and Executive Management
Information on remuneration of the Board of Directors and Executive Management is disclosed in the
Remuneration Report for 2025, prepared in accordance with Allmennaksjeloven \u00a76-16b. The Remuneration Report
forms part of the corporate governance reporting and includes information on salaries, bonuses, pension
contributions, share-based payments, and other benefits for the year.
The amounts recognised in the financial statements are consistent with the disclosures in the Remuneration
Report.
Remuneration to management and directors\u2019 fee
NOK million
2025
2024
Salary, bonus and other remuneration
57
40
Share-based payments
1
\u2013
Pension
1
1
Total compensation to management and directors
59
41
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-349": { "value": "
Note 9\u00a0 Other operating expenses
This note provides a breakdown of the items included in other operating expenses.
NOK million
2025
2024
Sales/distribution expense
1,238
1,024
Other flight operation expenses
1,306
1,327
General and administrative expenses
1,194
1,211
Total other operating expenses
3,738
3,561
Sales and distribution expenses include credit card and booking system commissions. Other flight operating
expenses mainly include insurances, de-icing and travel costs. General and administrative expenses include
marketing, back office, audit fees, consultants, and other costs not directly attributable to the operation of the
aircraft fleet and related airline-specific costs.
Audit remuneration
NOK million
2025
2024
Audit fee
21
19
Other audit related services
3
1
Other services
\u2013
2
Total
25
22
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-350": { "value": "
Note 10\u00a0 Other gains (losses)
NOK million
2025
2024
Foreign exchange losses (gains) on operating activities
(388)
297
Losses (gains) on asset sale
(21)
(2)
Other losses (gains)
\u2013
(4)
Total
(409)
291
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-351": { "value": "
Note 11\u00a0 Other financial income (expense)
NOK million
2025
2024
Net foreign exchange (loss) gain
(18)
26
Return from investments in funds
305
251
Other financial items
(37)
(18)
Other financial income (expense)
249
259
Deposits in money market funds are classified either as cash equivalents or investments in financial assets,
depending on their risk structure.
Please refer to Note 3 for fair value estimation, Note 19 for further information on cash and cash equivalents and
Note 21 for information concerning investments in financial assets.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-353": { "value": "
Note 12\u00a0 Taxes
Current and deferred income tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement,
except to the extent it relates to items recognised in other comprehensive income or directly in equity. In this
case, the tax is also recognised in other comprehensive income or directly in equity, respectively.
Current income tax
Current income tax assets and liabilities for the current and prior periods are measured at the amount expected
to be recovered from or paid to the taxation authorities. The amount of current tax payable or receivable is the
best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes,
if any. The tax rates and tax laws that are used to compute the amount are those which are enacted or
substantively enacted at the reporting date.
Deferred income tax
Deferred income tax is determined by using the liability method on temporary differences at the reporting date
between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes.
Deferred income tax liabilities are recognised for all taxable temporary differences. Deferred income tax assets
are recognised for all deductible temporary differences, carryforward of unused tax credits and unused tax losses,
to the extent that it is probable that taxable profit will be available against which the deductible temporary
differences, and the carryforward of unused tax credits and unused tax losses can be utilised.
The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent
that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred
income tax asset to be utilised. Unrecognised deferred income tax assets are reassessed at each reporting date
and are recognised to the extent that it has become probable that future taxable profit will allow the deferred tax
asset to be recovered.
Deferred income tax assets and liabilities are measured at the tax rates that are expected in the year when the
assets are realised or when the liabilities are settled, based on tax rates (and tax laws) which have been enacted,
or substantively enacted, at the reporting date.
Deferred income tax assets and deferred income tax liabilities are offset to the extent that:
\u2022 the group has a legal and enforceable right to offset the recognised amounts; and
\u2022 deferred tax assets and tax liabilities relate to income tax from the same tax authorities and the same taxable
entity in the group, or if different taxable entities in the group intend either to settle on a net basis, or to
realise the asset and settle the liability simultaneously.
Deferred income tax is provided based on temporary differences arising from investments in subsidiaries and
associates, except where the timing of the reversal of the temporary difference is controlled by the group and it is
probable that the temporary difference will not reverse in the foreseeable future.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-352": { "value": "
Note 12\u00a0 Taxes
Current and deferred income tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement,
except to the extent it relates to items recognised in other comprehensive income or directly in equity. In this
case, the tax is also recognised in other comprehensive income or directly in equity, respectively.
Current income tax
Current income tax assets and liabilities for the current and prior periods are measured at the amount expected
to be recovered from or paid to the taxation authorities. The amount of current tax payable or receivable is the
best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes,
if any. The tax rates and tax laws that are used to compute the amount are those which are enacted or
substantively enacted at the reporting date.
Deferred income tax
Deferred income tax is determined by using the liability method on temporary differences at the reporting date
between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes.
Deferred income tax liabilities are recognised for all taxable temporary differences. Deferred income tax assets
are recognised for all deductible temporary differences, carryforward of unused tax credits and unused tax losses,
to the extent that it is probable that taxable profit will be available against which the deductible temporary
differences, and the carryforward of unused tax credits and unused tax losses can be utilised.
The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent
that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred
income tax asset to be utilised. Unrecognised deferred income tax assets are reassessed at each reporting date
and are recognised to the extent that it has become probable that future taxable profit will allow the deferred tax
asset to be recovered.
Deferred income tax assets and liabilities are measured at the tax rates that are expected in the year when the
assets are realised or when the liabilities are settled, based on tax rates (and tax laws) which have been enacted,
or substantively enacted, at the reporting date.
Deferred income tax assets and deferred income tax liabilities are offset to the extent that:
\u2022 the group has a legal and enforceable right to offset the recognised amounts; and
\u2022 deferred tax assets and tax liabilities relate to income tax from the same tax authorities and the same taxable
entity in the group, or if different taxable entities in the group intend either to settle on a net basis, or to
realise the asset and settle the liability simultaneously.
Deferred income tax is provided based on temporary differences arising from investments in subsidiaries and
associates, except where the timing of the reversal of the temporary difference is controlled by the group and it is
probable that the temporary difference will not reverse in the foreseeable future.
Global minimum tax framework (Pillar Two)
At the end of 2021, the OECD introduced the Global Anti-Base Erosion (GloBE) Rules as part of a new global
minimum tax framework, known as Pillar Two. In December 2022, the EU Minimum Tax Directive (Pillar Two) came
into effect, establishing a global minimum tax rate of 15 percent for multinational enterprises and large-scale
domestic groups. This directive has been applicable within the EU since the beginning of 2024. To facilitate the
transition to Pillar Two tax, the OECD has developed a Framework for Transitional Safe CbCR Safe Harbours. This
framework covers the transitional period for the fiscal years 2024\u20132026.
The group has assessed its potential exposure to the Pillar Two rules. Based on its initial assessment, the group
does not anticipate significant top-up tax adjustments during the transitional period from 2024 to 2026. The
Norwegian Group has applied the exception to recognising and disclosing information about deferred tax assets
and liabilities related to Pillar Two income taxes. The group will continue to monitor regulatory developments, as
the OECD is expected to release further guidance and details, including those relevant to the aviation industry,
permanent safe harbour frameworks, and Qualified Domestic Minimum Tax Regimes.
Tax expense consists of:
NOK million
2025
2024
Tax payable
88
34
Adjustments from previous year
\u2013
21
Change in deferred tax
220
(55)
Income tax expense
308
\u2013
Reconciliation from nominal to effective tax rate
NOK million
2025
2024
Profit before tax
3,016
1,355
Expected tax expense (income) using nominal tax rate (22%)
663
298
Tax effect of the following items:
Non deductible expenses (income)
(147)
(29)
Adjustments from previous year
\u2013
21
Tax rate outside Norway other than 22%
(25)
3
Deferred tax asset not recognised
(183)
(292)
Tax expense
308
\u2013
Effective tax rate
10%
\u2013%
Adjustments from previous year reflect the effect of differences between final tax reporting and basis used in
establishing the current tax position and deferred tax balance in prior periods.
The following table details net deferred tax assets (liabilities) at year-end:
NOK million
2025
2024
Intangible assets
454
430
Tangible assets
(347)
(333)
Inventories
36
6
Receivables
2
2
Financial instruments
(138)
(75)
Deferred gains (losses)
(125)
(155)
Other accruals
510
475
Pensions
88
73
Other temporary differences
94
36
Loss carried forward
1,579
1,940
Not recognised deferred tax
(526)
(622)
Net deferred tax assets (liabilities)
1,627
1,776
Recognised as deferred tax assets
1,692
1,842
Recognised as deferred tax liabiities
(65)
(66)
Net deferred tax assets (liabilities)
1,627
1,776
Tax effect of tax loss carryforwards per country:
NOK million
2025
2024
Norway (no expiration date)
1,367
1,792
Ireland (no expiration date)
128
147
Spain (no expiration date)
84
\u2013
Total
1,579
1,940
Deferred tax assets are based on unused tax loss carryforwards and temporary differences in assets and liabilities.
The group is currently running a profitable business. Deferred tax assets stemming from losses carried forward
are mainly related to the discontinued long-haul operations and COVID-19 pandemic. Unused tax losses are
recognised to the extent that taxable profits are probable. Significant management judgement is required to
determine the amounts of deferred tax assets that can be recognised, based on the anticipated timing and level
of future taxable profits together with future tax planning strategies. In situations where group companies have
experienced recent losses, the group will evaluate whether there are convincing other evidence supporting
taxable profits and the future utilisation of its carryforward losses.
Convincing other evidence is considered for recognition of the deferred tax assets. By carrying forward the
profitable part of its business and exiting the historically loss-making or marginal part of the operation, the group
has reasonable expectations of continuing to generate taxable profits in the upcoming years. The group, however,
acknowledges that there is some uncertainty inherent to forecasts for the future utilisation of tax losses carried
forward. Based on this uncertainty, the group does not recognise deferred tax assets on the full amount of tax
losses carried forward.
The following table details changes in net deferred tax assets (liabilities) during the period:
NOK million
2025
2024
Recognised at 1 January
1,776
1,836
Charged/credited to the income statement
(220)
55
Charged directly to equity
77
\u2013
Acquisition
\u2013
(114)
Translation differences
(6)
(1)
Recognised at 31 December
1,627
1,776
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-354": { "value": "
Note 12\u00a0 Taxes
Current and deferred income tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement,
except to the extent it relates to items recognised in other comprehensive income or directly in equity. In this
case, the tax is also recognised in other comprehensive income or directly in equity, respectively.
Current income tax
Current income tax assets and liabilities for the current and prior periods are measured at the amount expected
to be recovered from or paid to the taxation authorities. The amount of current tax payable or receivable is the
best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes,
if any. The tax rates and tax laws that are used to compute the amount are those which are enacted or
substantively enacted at the reporting date.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-355": { "value": "
The following table details net deferred tax assets (liabilities) at year-end:
NOK million
2025
2024
Intangible assets
454
430
Tangible assets
(347)
(333)
Inventories
36
6
Receivables
2
2
Financial instruments
(138)
(75)
Deferred gains (losses)
(125)
(155)
Other accruals
510
475
Pensions
88
73
Other temporary differences
94
36
Loss carried forward
1,579
1,940
Not recognised deferred tax
(526)
(622)
Net deferred tax assets (liabilities)
1,627
1,776
Recognised as deferred tax assets
1,692
1,842
Recognised as deferred tax liabiities
(65)
(66)
Net deferred tax assets (liabilities)
1,627
1,776
Tax effect of tax loss carryforwards per country:
NOK million
2025
2024
Norway (no expiration date)
1,367
1,792
Ireland (no expiration date)
128
147
Spain (no expiration date)
84
\u2013
Total
1,579
1,940
Deferred tax assets are based on unused tax loss carryforwards and temporary differences in assets and liabilities.
The group is currently running a profitable business. Deferred tax assets stemming from losses carried forward
are mainly related to the discontinued long-haul operations and COVID-19 pandemic. Unused tax losses are
recognised to the extent that taxable profits are probable. Significant management judgement is required to
determine the amounts of deferred tax assets that can be recognised, based on the anticipated timing and level
of future taxable profits together with future tax planning strategies. In situations where group companies have
experienced recent losses, the group will evaluate whether there are convincing other evidence supporting
taxable profits and the future utilisation of its carryforward losses.
Convincing other evidence is considered for recognition of the deferred tax assets. By carrying forward the
profitable part of its business and exiting the historically loss-making or marginal part of the operation, the group
has reasonable expectations of continuing to generate taxable profits in the upcoming years. The group, however,
acknowledges that there is some uncertainty inherent to forecasts for the future utilisation of tax losses carried
forward. Based on this uncertainty, the group does not recognise deferred tax assets on the full amount of tax
losses carried forward.
The following table details changes in net deferred tax assets (liabilities) during the period:
NOK million
2025
2024
Recognised at 1 January
1,776
1,836
Charged/credited to the income statement
(220)
55
Charged directly to equity
77
\u2013
Acquisition
\u2013
(114)
Translation differences
(6)
(1)
Recognised at 31 December
1,627
1,776
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-356": { "value": "
Note 13\u00a0 Earnings per share
Basic earnings per share calculations are based on the weighted average number of common shares outstanding
during the period, while diluted earnings per share calculations are performed using the average number of
common shares and dilutive common shares equivalents outstanding during each period.
NOK million
2025
2024
Profit attributable to the owners of the company before PIK interest
2,708
1,355
Payment-in-kind interest on perpetual bonds recognised in equity
(62)
(142)
Profit attributable to the owners of the company after PIK interest
2,646
1,213
Specification of weighted average number of shares used in calculation of
basic and diluted EPS
Weighted number of shares issued
1,018,718,986
963,475,409
Treasury shares held
(324,658)
Ordinary shares used in calculation of basic EPS
1,018,394,328
963,475,409
Perpetual bonds for diluted EPS
67,198,813
163,360,699
Share options
450,857
205,563
Weighted average number of ordinary shares diluted
1,086,043,998
1,127,041,671
Basic earnings per share (NOK)
2.60
1.26
Diluted earnings per share (NOK)
2.49
1.20
Antidilutive instruments that might become dilutive in future periods not
included in calculation of the diluted earnings per share for the period
Perpetual bonds
\u2013
\u2013
Ordinary share options
7,349,508
4,281,017
Stock options granted to employees are considered dilutive if they are \u201cin the money\u201d after vesting conditions are
considered. For further details on outstanding stock options, please refer to Note 23 .
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-357": { "value": "
Note 13\u00a0 Earnings per share
Basic earnings per share calculations are based on the weighted average number of common shares outstanding
during the period, while diluted earnings per share calculations are performed using the average number of
common shares and dilutive common shares equivalents outstanding during each period.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-359": { "value": "
Note 14\u00a0 Intangible assets
Goodwill represents the excess of the cost of an acquisition over the fair value of the group\u2019s share of the net
identifiable assets of the acquired subsidiary at the date of acquisition. Unless there are indications for an
impairment, goodwill is tested annually for impairment and carried at cost less accumulated impairment losses.
Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.
Other intangible assets are related to identifiable assets from business combinations and investments in other
intangible assets.
Intangible assets which are determined as having indefinite useful lives, are not amortised, but subject to annual
impairment testing. The determination of indefinite useful lives is based on assessment by management as to
whether there is any foreseeable limit to the period over which the asset is expected to generate net cash inflows
for the entity.
Impairment of non-financial assets
Intangible assets with indefinite useful lives are not subject to amortisation and are tested annually for
impairment. Assets that are subject to amortisation are reviewed for impairment whenever events or changes in
circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for
the amount by which the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable amount is the
higher of an asset\u2019s fair value less costs to sell and value in use.
For the purpose of impairment testing, assets are grouped at the lowest levels of separately identifiable cash
flows (cash-generating units). The allocation is made to those cash-generating units that are expected to benefit
from the assets. Management has assessed that the Wider\u00f8e and Norwegian segments constitute two separate
cash-generating units. The determination of cash-generating units is based on how management operates and
assesses the group\u2019s performance, profit and cash flow. The Wider\u00f8e and Norwegian aircraft fleets are operated
as separate units, and the route portfolios are managed and diversified as two units. Goodwill and other non-
current assets are allocated to the two different segments\u2019 cash-generating units for the purpose of impairment
testing.
Non-current assets other than goodwill that have suffered impairment are reviewed for a possible reversal of the
impairment at each reporting date. Impairment losses on goodwill are not reversed.
Emission rights
Emission rights held are recognised at cost, which is nil for those granted from the respective countries\u2019
government agencies without the need for payment of any consideration, and purchase price for those
purchased.
To measure its obligation to surrender CO2 allowances correctly during a compliance period (financial year),
Norwegian applies a weighted average cost method. The obligation is measured based on an average cost per
unit of emissions expected to be incurred during the compliance period as a whole. The group determines the
expected total emissions for the compliance period and compares this with the number of allowance units
granted and purchased and still held by the entity for that compliance period, to determine the expected shortfall
(if any) in allowances held for the compliance period. The weighted average cost per unit of emissions for the
compliance period is the carrying amount of the allowances held plus the cost of meeting the expected shortfall
divided by the expected total number of units of emissions for the compliance period.
For the compliance period 2025, the group has purchased CO2 allowances through forward contracts with
delivery in 2025. Those allowances are included in the measurement of the obligation to surrender CO2
allowances per 31 December 2025 with their expected settlement amounts (strike price). The allowances are to be
recognised as intangible assets once received in 2025.
NOK million
Software
Goodwill
ETS allowances
Other intangible assets
Total
Acquisition costs 1 January 2024
659
94
960
54
1,768
Additions from business combinations
\u2013
119
\u2013
214
333
Additions
77
\u2013
1,148
\u2013
1,225
Disposals
(28)
\u2013
(1,176)
\u2013
(1,204)
Foreign currency translation
1
\u2013
\u2013
\u2013
1
Acquisition costs 31 December 2024
709
213
933
267
2,122
Acquisition costs 1 January 2025
709
213
933
267
2,122
Additions
40
\u2013
1,128
\u2013
1,168
Disposals
\u2013
\u2013
(1,332)
\u2013
(1,332)
Acquisition costs 31 December 2025
748
213
729
267
1,958
Accumulated amortisation 1 January 2024
550
\u2013
\u2013
\u2013
550
Amortisation
14
\u2013
\u2013
38
52
Accumulated amortisation 31 December 2024
564
\u2013
\u2013
38
602
Accumulated amortisation 1 January 2025
564
\u2013
\u2013
38
602
Amortisation
22
\u2013
\u2013
38
61
Accumulated amortisation 31 December 2025
586
\u2013
\u2013
76
662
Book value at 31 December 2024
145
213
933
229
1,520
Book value at 31 December 2025
162
213
729
191
1,295
Useful life
3-5 years
Indefinite
Indefinite
Indefinite
Amortisation plan
Straight-line
None
None
None
Capitalised software is related to external consulting fees for the development of Norwegian\u2019s own systems for
bookings and ticket-less travel, various sales portals, back office and maintenance systems. These costs are
amortised over their estimated useful lives (three to five years).
Part of other intangible assets and goodwill are related to the purchase of FlyNordic in Sweden in 2007 and
purchase of slots at London Gatwick airport in 2017. Other intangible assets from business combinations consist
of estimated fair value of Brand name, charter operations, slots and the Air Operating Certificate. Other intangible
assets also consist of intellectual property rights that are related to purchases of internet domains. The group has
developed international web portals in major markets.
As part of the business combination with Wider\u00f8e in 2024, excess values that have not been allocated to other
assets or liabilities have been recognised as goodwill in the balance sheet.
The allowances are expected to be delivered to the environmental authorities during 2026 and are classified as
current assets in the balance sheet.
Goodwill, slots, and intellectual property rights are determined to have indefinite useful lives and are not
amortised. NOK 119 million (2024: NOK 119 million) of the goodwill recognised at 31 December 2025 is allocated to
Wider\u00f8e, which is defined as a separate cash-generating unit in the group. The remaining NOK 94 million (2024:
NOK 94 million) is allocated to Norwegian, which is the other cash-generating unit in the group. Slots and
intellectual property rights do not expire over time, as long as management has the intention to continue using
the assets. For impairment testing, please refer to Note 15.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-358": { "value": "
Note 14\u00a0 Intangible assets
Goodwill represents the excess of the cost of an acquisition over the fair value of the group\u2019s share of the net
identifiable assets of the acquired subsidiary at the date of acquisition. Unless there are indications for an
impairment, goodwill is tested annually for impairment and carried at cost less accumulated impairment losses.
Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.
Other intangible assets are related to identifiable assets from business combinations and investments in other
intangible assets.
Intangible assets which are determined as having indefinite useful lives, are not amortised, but subject to annual
impairment testing. The determination of indefinite useful lives is based on assessment by management as to
whether there is any foreseeable limit to the period over which the asset is expected to generate net cash inflows
for the entity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-360": { "value": "
Impairment of non-financial assets
Intangible assets with indefinite useful lives are not subject to amortisation and are tested annually for
impairment. Assets that are subject to amortisation are reviewed for impairment whenever events or changes in
circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for
the amount by which the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable amount is the
higher of an asset\u2019s fair value less costs to sell and value in use.
For the purpose of impairment testing, assets are grouped at the lowest levels of separately identifiable cash
flows (cash-generating units). The allocation is made to those cash-generating units that are expected to benefit
from the assets. Management has assessed that the Wider\u00f8e and Norwegian segments constitute two separate
cash-generating units. The determination of cash-generating units is based on how management operates and
assesses the group\u2019s performance, profit and cash flow. The Wider\u00f8e and Norwegian aircraft fleets are operated
as separate units, and the route portfolios are managed and diversified as two units. Goodwill and other non-
current assets are allocated to the two different segments\u2019 cash-generating units for the purpose of impairment
testing.
Non-current assets other than goodwill that have suffered impairment are reviewed for a possible reversal of the
impairment at each reporting date. Impairment losses on goodwill are not reversed.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-361": { "value": "
Emission rights
Emission rights held are recognised at cost, which is nil for those granted from the respective countries\u2019
government agencies without the need for payment of any consideration, and purchase price for those
purchased.
To measure its obligation to surrender CO2 allowances correctly during a compliance period (financial year),
Norwegian applies a weighted average cost method. The obligation is measured based on an average cost per
unit of emissions expected to be incurred during the compliance period as a whole. The group determines the
expected total emissions for the compliance period and compares this with the number of allowance units
granted and purchased and still held by the entity for that compliance period, to determine the expected shortfall
(if any) in allowances held for the compliance period. The weighted average cost per unit of emissions for the
compliance period is the carrying amount of the allowances held plus the cost of meeting the expected shortfall
divided by the expected total number of units of emissions for the compliance period.
For the compliance period 2025, the group has purchased CO2 allowances through forward contracts with
delivery in 2025. Those allowances are included in the measurement of the obligation to surrender CO2
allowances per 31 December 2025 with their expected settlement amounts (strike price). The allowances are to be
recognised as intangible assets once received in 2025.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmissionRightsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-363": { "value": "
Note 15\u00a0 Tangible assets
Tangible assets including buildings are carried at historical cost, less accumulated depreciation and impairment
losses. When assets are sold or disposed of, the gross carrying amount and accumulated depreciation and
impairment losses are derecognised. Any gain or loss on the sale or disposal is recognised in the income
statement as other losses (gains)-net.
The gross carrying amount of non-current assets is the purchase price, including duties/taxes and direct
acquisition costs relating to making the non-current asset ready for its intended use. Subsequent costs, such as
repair and maintenance costs, are normally recognised in profit or loss as incurred. When increased future
economic benefits are the result of verified repair and maintenance work, these costs will be recognised in the
statement of financial position as additions to non-current assets. Borrowing costs are capitalised on qualifying
assets.
Non-current assets are depreciated on a straight-line basis or by airborne hours and cycles over the estimated
useful life of the asset beginning when the asset is ready for its intended use. Residual values, where applicable,
are reviewed annually against prevailing market rates at the reporting date for equivalently aged assets and
depreciation rates adjusted accordingly on a prospective basis. The carrying value is reviewed for impairment if
events or changes in circumstances indicate that the carrying value may not be recoverable.
An aircraft is recognised as one or more components for depreciation purposes in order to consider different
useful lives of the aircraft components. Depreciable components are defined as maintenance components. In
accordance with official requirements, the aircraft must be maintained which means significant components must
be changed after a specific number of flights or airborne hours. These components are identified as two heavy
maintenance checks of the aircraft body, power restoration and life limited parts for the two engines on each
aircraft, as well as maintenance on landing gears and aircraft power unit. The maintenance and overhauls of these
components occur on a defined interval, and the value is depreciated based on the number of take-offs or
airborne hours until the next maintenance is conducted. Completed maintenance and overhaul are capitalised
and depreciated until the next relevant maintenance and overhauls. The second aircraft component is defined as
the remainder of the aircraft and depreciated over the estimated useful life, considered to be 25 years for the
fleet in Norwegian and 35 years for the fleet in Wider\u00f8e. When estimating the future residual values, the group
reviews reports from two separate independent aircraft appraisers for each applicable aircraft type and year of
build and sets the residual value to an average value of the two appraiser\u2019s reports.
Rotable spare parts are carried as non-current assets and depreciated over their useful lives.
The group capitalises prepayments on the purchase contracts of aircraft. The prepayments are classified as
tangible assets as presented in the statement of financial position. The prepayments include capitalised
borrowing costs, when applicable. At delivery of aircraft, the prepayments are included in the acquisition costs of
the aircraft.
Depreciation periods and methods are assessed annually to ensure that they match the substance of non-current
assets. The group expects the impact of climate-related matters on the estimated economic life of its fleet to be
insignificant.
Purchase of aircraft
The group has in 2025 entered into agreements to purchase 13 Boeing 737-800 aircraft that previously were on
lease to the airline. On completion of the transactions, the group recorded a total non-recurring gain of NOK 858
million presented as a reduction in the line \u201cAircraft lease, depreciation and amortisation\u201d. The gain of NOK 858
million reflects the purchase price and the corresponding reduction of net lease balances including maintenance
accrual on leased aircraft. The new aircraft were recognised at fair value at the acquisition date.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-362": { "value": "
Note 15\u00a0 Tangible assets
Tangible assets including buildings are carried at historical cost, less accumulated depreciation and impairment
losses. When assets are sold or disposed of, the gross carrying amount and accumulated depreciation and
impairment losses are derecognised. Any gain or loss on the sale or disposal is recognised in the income
statement as other losses (gains)-net.
The gross carrying amount of non-current assets is the purchase price, including duties/taxes and direct
acquisition costs relating to making the non-current asset ready for its intended use. Subsequent costs, such as
repair and maintenance costs, are normally recognised in profit or loss as incurred. When increased future
economic benefits are the result of verified repair and maintenance work, these costs will be recognised in the
statement of financial position as additions to non-current assets. Borrowing costs are capitalised on qualifying
assets.
Non-current assets are depreciated on a straight-line basis or by airborne hours and cycles over the estimated
useful life of the asset beginning when the asset is ready for its intended use. Residual values, where applicable,
are reviewed annually against prevailing market rates at the reporting date for equivalently aged assets and
depreciation rates adjusted accordingly on a prospective basis. The carrying value is reviewed for impairment if
events or changes in circumstances indicate that the carrying value may not be recoverable.
An aircraft is recognised as one or more components for depreciation purposes in order to consider different
useful lives of the aircraft components. Depreciable components are defined as maintenance components. In
accordance with official requirements, the aircraft must be maintained which means significant components must
be changed after a specific number of flights or airborne hours. These components are identified as two heavy
maintenance checks of the aircraft body, power restoration and life limited parts for the two engines on each
aircraft, as well as maintenance on landing gears and aircraft power unit. The maintenance and overhauls of these
components occur on a defined interval, and the value is depreciated based on the number of take-offs or
airborne hours until the next maintenance is conducted. Completed maintenance and overhaul are capitalised
and depreciated until the next relevant maintenance and overhauls. The second aircraft component is defined as
the remainder of the aircraft and depreciated over the estimated useful life, considered to be 25 years for the
fleet in Norwegian and 35 years for the fleet in Wider\u00f8e. When estimating the future residual values, the group
reviews reports from two separate independent aircraft appraisers for each applicable aircraft type and year of
build and sets the residual value to an average value of the two appraiser\u2019s reports.
Rotable spare parts are carried as non-current assets and depreciated over their useful lives.
The group capitalises prepayments on the purchase contracts of aircraft. The prepayments are classified as
tangible assets as presented in the statement of financial position. The prepayments include capitalised
borrowing costs, when applicable. At delivery of aircraft, the prepayments are included in the acquisition costs of
the aircraft.
Depreciation periods and methods are assessed annually to ensure that they match the substance of non-current
assets. The group expects the impact of climate-related matters on the estimated economic life of its fleet to be
insignificant.
Purchase of aircraft
The group has in 2025 entered into agreements to purchase 13 Boeing 737-800 aircraft that previously were on
lease to the airline. On completion of the transactions, the group recorded a total non-recurring gain of NOK 858
million presented as a reduction in the line \u201cAircraft lease, depreciation and amortisation\u201d. The gain of NOK 858
million reflects the purchase price and the corresponding reduction of net lease balances including maintenance
accrual on leased aircraft. The new aircraft were recognised at fair value at the acquisition date.
NOK million
Buildings
Aircraft, spare parts
and installations on
leased aircraft
Prepayment on
aircraft orders\u00a0
Equipment and
fixtures
Total owned assets
Acquisition cost at 1 January 2024
287
3,074
3,072
648
7,081
Additions from business combinations
182
2,214
\u2013
111
2,506
Additions
19
1,029
61
161
1,270
Translation difference acquisition cost
\u2013
333
364
2
698
Disposals
\u2013
(261)
\u2013
(4)
(266)
Acquisition cost at 31 December 2024
488
6,388
3,497
917
11,289
Acquisition cost at 1 January 2025
488
6,388
3,497
917
11,289
Additions
17
4,794
539
67
5,417
Translation difference acquisition cost
\u2013
(519)
(387)
4
(902)
Disposals
\u2013
(610)
(95)
\u2013
(706)
Acquisition cost at 31 December 2025
505
10,052
3,554
988
15,099
Accumulated depreciation at 1 January 2024
54
1,659
\u2013
490
2,203
Depreciation
21
471
\u2013
87
579
Depreciation disposals
\u2013
(109)
\u2013
(1)
(110)
Foreign currency translation
\u2013
127
\u2013
\u2013
127
Accumulated depreciation at 31 December 2024
75
2,149
\u2013
576
2,799
Accumulated depreciation at 1 January 2025
75
2,149
\u2013
576
2,799
Depreciation
22
826
\u2013
93
941
Depreciation on disposals
\u2013
(59)
\u2013
\u2013
(59)
Foreign currency translation
\u2013
(151)
\u2013
\u2013
(151)
Accumulated depreciation at 31 December 2025
96
2,765
\u2013
669
3,530
Book value at 31 December 2024
413
4,239
3,497
341
8,490
Book value at 31 December 2025
408
7,288
3,554
319
11,569
Aircraft
At 31 December 2025, the group\u2019s fleet comprises of the Norwegian fleet of 95 aircraft of which 17 are owned and
Wider\u00f8e fleet of 51 aircraft of which 42 are owned.
The residual value is NOK 1,127 million (2024: NOK 542 million) in total for all owned aircraft and deducted from
the depreciable amount of the body of the aircraft. To determine the residual value, the group has a process of
internal assessment along with the use of an external and independent appraiser providing estimates on future
value based on aircraft type and year of build. The economic life expectancy of the body of the aircraft is 25 years
and the economic life of the owned aircraft is 25 years less the age of the aircraft at time of purchase.
Prepayments
Prepayments for ordered aircraft amounted to NOK 3,497 million and relate to the remaining 79 aircraft from the
purchase order of 80 Boeing 737 MAX 8 aircraft. Prepayments for the ordered aircraft are pledged as securities,
additional details in Note 20. The pre-delivery payment (PDP) to Boeing is unsecured.
Installations on leased aircraft
The installations on the leased aircraft include cabin interior modifications and other improvements to the aircraft
after lease commencement. The capitalised value is depreciated over the remainder of the aircraft lease, which is
between two and 12 years. Linear depreciation is applied, and residual value is NOK 0.
Spare parts
Spare parts consist of rotable parts for the aircraft and are depreciated over their useful life. The useful life of
spare parts ranges between five and eight years. Straight-line depreciation is applied, and 25 percent of the
acquisition cost is calculated as residual value.
Buildings
Buildings consist mainly of hangars at Gardermoen, Bod\u00f8 and other airports the group is operating at. The
buildings are estimated to have a useful life of between three and 50 years. They are depreciated on a straight-
line basis over their useful economic life to a residual value of NOK 0.
Equipment and fixtures
Equipment and fixtures consist of IT hardware, purchased software, vehicles and other equipment. They are
depreciated on a straight-line basis over three to 15 years.
Impairment test of tangible and intangible assets
The group reviews assets for impairment testing at each reporting date and whenever there are indications of
impairment.
The CGU is tested for recoverable amount of the CGU\u2019s assets based on value in use, with expected future cash
flows in accordance with the group\u2019s current management approved business plans for the upcoming four years.
Cash flows beyond the forecast period have been projected in accordance with management\u2019s long-term growth
assumptions. The impairment test is consistent with the one used in previous periods,
but with business plans adjusted and adapted to the current market situation. The impairment test carried out
does not result in any impairment of the CGU\u2019s intangible or tangible assets.
Key assumptions used in the calculation are growth rates, operating costs, terminal value and discount rate. Cash
flows beyond the four-year period are extrapolated with a long-term growth rate. Estimated cash flows and
discount rate are after tax.
Discount rate
The cash flows are discounted using the expected long-term weighted average cost of capital (WACC). The
applied after-tax discount rate is 7.9 percent (2024: 8.6 percent). The cost of the group\u2019s debt and equity capital,
weighted accordingly to reflect its capital structure, gives the group\u2019s weighted average cost of capital. The
WACC rates which are used to discount future cash flows are based on market risk free interest rates adjusted for
inflation differentials and include the debt premium, market risk premium, marginal corporate tax rate and asset
beta.
Growth rates
The basis for calculating future growth rate is in accordance with the group\u2019s Board of Directors approved
business plans for the upcoming four years.
Operating costs
The operating costs are calculated based in accordance with the group\u2019s Board of Directors approved business
plans for the upcoming four years.
Terminal value
A growth rate of 0 percent is used in calculating cash flow beyond the four-year period.
Sensitivity
On 31 December 2025, the group\u2019s value in use was significantly higher than the carrying amount of its non-
current assets. A sensitivity analysis supports that no reasonable change in key assumptions would cause the
carrying amount to exceed the recoverable amount.
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-365": { "value": "
Note 16\u00a0 Leases
Leasing
At inception of a contract, the group assesses whether a contract is, or contains, a lease. A contract is, or
contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in
exchange for consideration.
The group has elected not to recognise right-of-use assets and lease liabilities for short-term leases, that are not
aircraft leases, and leases of low-value assets, including IT equipment. The group recognises the lease payments
associated with these leases as an expense on a straight-line basis over the lease term. These lease expenses are
included in `Other operating expenses\u00b4.
Measurement and presentation of right-of-use assets and lease liabilities
As a lessee, the group leases many assets including aircraft, aircraft spare parts, facilities and other equipment.
The group recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use
asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease
payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of
costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is
located, less any lease incentives received.
The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date
to the end of the lease term, unless the lease transfers ownership of the underlying asset to the group by the end
of the lease term or the cost of the right-of-use asset reflects that the group will exercise a purchase option. In
that case the right-of-use asset will be depreciated over the useful life of the underlying asset.
The lease liability is initially measured at the present value of the lease payments that are not paid at the
commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily
determined, the group\u2019s incremental borrowing rate. Generally, the group uses its incremental borrowing rate as
the discount rate. The group determines its incremental borrowing rate by obtaining interest rates from various
external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset
leased.
Variable rents that do not depend on an index or rate are not included in the measurement of the lease liability
and the right-of-use asset. The related payments are recognised as an expense in the period in which the event
or condition that triggers those payments occurs.
The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease
liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments
made.\u00a0
The group presents right-of-use assets from aircraft and aircraft spare parts leases in \u2018Right-of-use aircraft, parts
and installations\u2019 in the consolidated statement of financial position. Right-of use assets from facility and
equipment leases are presented as `Right-of-use buildings\u00b4 and \u00b4Right-of-use equipment\u00b4, respectively. Interest
expense on the lease liability is presented as `Interest expense\u00b4 in the consolidated income statement.
Depreciation of the right-of-use assets is presented under `Aircraft lease, depreciation and amortisation\u00b4.
For aircraft sale-leaseback transactions, the right-of-use asset is measured at the portion of the previous carrying
amount of the asset that relates to the right of use retained by the seller-lessee. Gain or loss is recognised for the
amount that relates to the rights transferred to the buyer-lessor.
Lessor payments
Received compensation from aircraft lessors for additional costs incurred related to the late commencement of
lease agreements are netted against cost incurred and presented under \u201cAircraft lease, depreciation and
amortisation\u201d in the consolidated income statement.
NOK million
Right-of-use aircraft, parts and
installations
Right-of-use buildings
Right-of-use equipment
Total right-of-use assets
Acquisition cost at 1 January 2024
16,600
498
\u2013
17,098
Additions
1,108
111
67
1,286
Additions from business combinations
312
62
160
534
Additions maintenance
2,040
\u2013
\u2013
2,040
Translation difference acquisition cost
1,092
10
\u2013
1,101
Acquisition cost at 31 December 2024
21,151
681
226
22,058
Acquisition cost at 1 January 2025
21,151
681
226
22,058
Additions
6,626
97
2
6,725
Additions maintenance
2,069
\u2013
\u2013
2,069
Translation difference acquisition cost
(1,198)
9
\u2013
(1,189)
Terminations
(2,286)
\u2013
\u2013
(2,286)
Acquisition cost at 31 December 2025
26,362
787
229
27,377
Accumulated depreciation at 1 January 2024
6,781
179
\u2013
6,960
Depreciation
2,020
77
42
2,138
Depreciation maintenance
2,040
\u2013
\u2013
2,040
Foreign currency translation
8
\u2013
\u2013
8
Accumulated depreciation at 31 December 2024
10,848
255
42
11,145
Accumulated depreciation at 1 January 2025
10,848
255
42
11,145
Depreciation
1,879
88
51
2,018
Depreciation maintenance
2,069
\u2013
\u2013
2,069
Termination accumulated depreciations
(1,079)
\u2013
\u2013
(1,079)
Foreign currency translation
1
3
\u2013
4
Accumulated depreciation at 31 December 2025
13,718
346
93
14,157
Book value at 31 December 2024
10,302
426
185
10,913
Book value at 31 December 2025
12,644
441
136
13,221
At the end of 2025, the group leased 87 (2024: 91) aircraft. The lease agreements on the Boeing 737 aircraft last
between two and twelve years from the date of agreement. For seven of the nine aircraft leased in Wider\u00f8e, the
group has a purchase option. Management assesses that it is probable that the purchase options for all seven
aircraft will be exercised.
The group cannot readily determine the interest rate implicit in the leases entered into in 2025. In the recognition
of the new leases in 2025, the group uses its incremental borrowing rate (IBR) to measure its lease liabilities. The
IBR is the rate of interest that the group would have to pay to borrow over a similar term, and with a similar
security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic
environment. The group estimates the IBR using observable inputs, such as market interest rates, when available
and is required to make certain entity-specific estimates. The weighted average IBR applied in discounting future
lease payments for lease agreements entered into in 2025 is 6.9 percent (2024: 7.6 percent).
Lease liabilities
NOK million
2025
2024
Opening balance
11,325
10,280
Additions
6,623
1,237
Acquisitions from business combinations
\u2013
491
Lease terminations
(1,184)
\u2013
Accrued interest expense
844
749
Interest paid
(844)
(749)
Payment of lease liabilities
(1,780)
(1,840)
Currency differences
(1,279)
1,156
Lease liabilities 31.12
13,704
11,325
Due within one year - current
1,774
2,024
Due after one year - non-current
11,930
9,301
Maturity profiles of nominal minimum lease payments are presented in Note 2.6.
In 2025, the group had short-term and/or leases of low-value items for cars and properties in Oslo, Barcelona and
Riga, in addition to properties in other bases. The group has elected not to recognise right-of-use assets and
lease liabilities for these leases. Instead, the rental payments are expensed when they occur.
The following amounts are recognised in the consolidated income statement:
NOK million
2025
2024
Expenses relating to short-term leases
331
395
Expenses relating to low-value leases
63
23
Variable lease payments
76
67
Total
470
484
Expenses relating to short-term leases in 2025 were mainly related to variable wet lease payments included in
`Aircraft lease, depreciation and amortisation\u00b4, while variable lease payments in 2025 were mainly related to
facility leases and are presented under `Other operating expenses\u00b4.
Due to the late delivery of Boeing 737 aircraft, Norwegian incurred additional cost in 2025 and 2024 related to wet
leases and alternative aircraft lease contracts the group had to enter into to support its planned production. The
group has recognised payments from aircraft lessors and manufacturers as a reduction of these additional aircraft
lease and depreciation expenses in 2025 and 2024.
Total lease payments for all leasing contracts equals NOK 3,094 million for the financial year 2025 (2024: NOK
3,072 million).
As of 31 December 2025, there are no significant future potential lease payments that are not included in the
lease obligations as a result of extension or purchase options. For information on commitments from lease
agreements not yet commenced, please refer to Note 32.
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-364": { "value": "
Note 16\u00a0 Leases
Leasing
At inception of a contract, the group assesses whether a contract is, or contains, a lease. A contract is, or
contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in
exchange for consideration.
The group has elected not to recognise right-of-use assets and lease liabilities for short-term leases, that are not
aircraft leases, and leases of low-value assets, including IT equipment. The group recognises the lease payments
associated with these leases as an expense on a straight-line basis over the lease term. These lease expenses are
included in `Other operating expenses\u00b4.
Measurement and presentation of right-of-use assets and lease liabilities
As a lessee, the group leases many assets including aircraft, aircraft spare parts, facilities and other equipment.
The group recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use
asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease
payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of
costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is
located, less any lease incentives received.
The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date
to the end of the lease term, unless the lease transfers ownership of the underlying asset to the group by the end
of the lease term or the cost of the right-of-use asset reflects that the group will exercise a purchase option. In
that case the right-of-use asset will be depreciated over the useful life of the underlying asset.
The lease liability is initially measured at the present value of the lease payments that are not paid at the
commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily
determined, the group\u2019s incremental borrowing rate. Generally, the group uses its incremental borrowing rate as
the discount rate. The group determines its incremental borrowing rate by obtaining interest rates from various
external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset
leased.
Variable rents that do not depend on an index or rate are not included in the measurement of the lease liability
and the right-of-use asset. The related payments are recognised as an expense in the period in which the event
or condition that triggers those payments occurs.
The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease
liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments
made.\u00a0
The group presents right-of-use assets from aircraft and aircraft spare parts leases in \u2018Right-of-use aircraft, parts
and installations\u2019 in the consolidated statement of financial position. Right-of use assets from facility and
equipment leases are presented as `Right-of-use buildings\u00b4 and \u00b4Right-of-use equipment\u00b4, respectively. Interest
expense on the lease liability is presented as `Interest expense\u00b4 in the consolidated income statement.
Depreciation of the right-of-use assets is presented under `Aircraft lease, depreciation and amortisation\u00b4.
For aircraft sale-leaseback transactions, the right-of-use asset is measured at the portion of the previous carrying
amount of the asset that relates to the right of use retained by the seller-lessee. Gain or loss is recognised for the
amount that relates to the rights transferred to the buyer-lessor.
Lessor payments
Received compensation from aircraft lessors for additional costs incurred related to the late commencement of
lease agreements are netted against cost incurred and presented under \u201cAircraft lease, depreciation and
amortisation\u201d in the consolidated income statement.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-366": { "value": "
Note 17\u00a0 Trade and other receivables
Trade receivables
Trade receivables are amounts due from customers for services performed and goods sold in the ordinary course
of business. If collection is expected in one year or less, they are classified as current assets. If not, they are
presented as non-current assets. Trade receivables are recognised initially at fair value and subsequently
measured at amortised cost using the effective interest method, less provision for impairment. Receivables from
credit card companies are classified as trade and other receivables in the statement of financial position.
Specifications of receivables
NOK million
2025
2024
Trade receivables
375
272
Credit card receivables
428
494
Deposits
715
884
Emission allowance claim (refer to Note 28)
406
406
Other claims
924
485
Trade and other receivables
2,848
2,542
Prepaid costs
572
625
Public duty debt
49
77
Prepayments to employees
\u2013
4
Prepaid rent
50
45
Prepayments*
671
751
Total
3,519
3,293
Maximum credit risk
2,442
2,135
*Prepayments not included in trade and other receivables was NOK 671 million in 2025 and NOK 751 million in 2024.
Due dates, nominal value of receivables
NOK million
2025
2024
Within one year
3,136
2,909
After one year
494
521
Total
3,630
3,430
Fair value of trade and other receivables
NOK million
2025
2024
Due within one year
3,129
2,899
Due after one year
390
393
Total
3,519
3,293
Provision for bad debt
NOK million
2025
2024
Balance 1 January
10
9
Receivables written off during the year
(4)
\u2013
Provisions
9
4
Unused amounts reversed
(7)
(3)
Balance 31 December
8
10
Aging of trade receivables
NOK million
2025
2024
Not overdue
288
256
Overdue less than 1 month
77
18
Overdue 1-2 months
3
\u2013
Overdue 2-3 months
\u2013
\u2013
Overdue over 3 months
15
8
Total
383
282
Provisions for bad debt relate to trade receivables. The provisions for bad debts on trade receivables relate to
overdue trade receivables that are not impaired at 31 December. Impairment losses on trade receivables and
other receivables are presented as net impairment losses included in the line item \u201cOther operating expenses\u201d.
Subsequent recoveries of amounts previously written off are credited against the same line item.
Non-interest-bearing deposits are measured at amortised cost in the statement of financial position. Deposits
denominated in foreign currencies are converted using the prevailing exchange rates on the reporting date.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-367": { "value": "17\u00a0 Trade and other receivables
Trade receivables
Trade receivables are amounts due from customers for services performed and goods sold in the ordinary course
of business. If collection is expected in one year or less, they are classified as current assets. If not, they are
presented as non-current assets. Trade receivables are recognised initially at fair value and subsequently
measured at amortised cost using the effective interest method, less provision for impairment. Receivables from
credit card companies are classified as trade and other receivables in the statement of financial position.
Provisions for bad debt relate to trade receivables. The provisions for bad debts on trade receivables relate to
overdue trade receivables that are not impaired at 31 December. Impairment losses on trade receivables and
other receivables are presented as net impairment losses included in the line item \u201cOther operating expenses\u201d.
Subsequent recoveries of amounts previously written off are credited against the same line item.
Non-interest-bearing deposits are measured at amortised cost in the statement of financial position. Deposits
denominated in foreign currencies are converted using the prevailing exchange rates on the reporting date.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-369": { "value": "
Note 18\u00a0 Inventory
Inventory
Inventory consists of consumables which are carried at the lower of acquisition cost and net realisable value. Cost
is determined using the average price method. Inventory is consumed during maintenance and overhaul of the
aircraft and is expensed when consumed.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-368": { "value": "
Note 18\u00a0 Inventory
Inventory
Inventory consists of consumables which are carried at the lower of acquisition cost and net realisable value. Cost
is determined using the average price method. Inventory is consumed during maintenance and overhaul of the
aircraft and is expensed when consumed.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-371": { "value": "
Note 19\u00a0 Cash and cash equivalents
Cash and cash equivalents
Cash and cash equivalents include cash in hand and in the bank, as well as short-term deposits with an original
maturity of three months or less. Cash and cash equivalents in the statement of financial position include
restricted funds from withheld employee tax, guarantees and deposits pledged as collateral to suppliers.
The group holds investments in money market funds classified as cash and cash equivalents. These funds are
highly liquid and readily convertible to a known amount of cash which is subject to an insignificant risk of changes
in value. Investments not meeting these criteria are classified as financial assets measured at fair value through
profit and loss.
NOK million
2025
2024
Cash in bank and demand deposit
3,980
5,760
Cash equivalents
3,455
4,108
Total cash and cash equivalents
7,434
9,868
At 31 December 2025, the interest terms of the main cash deposits in the two cash pools are 1 month NIBOR
+0.175 percent p.a. and NOWA +0.05 percent p.a. Balances held on cash pool accounts are presented on a net
basis in the consolidated statement of financial positions as the group has both the right and the intention to
offset these balances. Deposits in money market funds are classified as cash equivalents, as the original maturity
of the deposits is 3 months or less. For details on deposits in money market funds not classified as cash and cash
equivalents, please refer to Note 21.
Restricted cash
NOK million
2025
2024
Guarantees for leases and credits from suppliers
440
457
Security deposit on defined benefit plan
406
369
Taxes withheld
112
122
Fuel hedge pledged account
1
36
Dividend claims
47
45
AerCap
111
59
Escrow account
\u2013
5
Total
1,116
1,093
The group holds cash in restricted bank accounts as guarantees for leasing liabilities for aircraft, suppliers of fuel
and handling services, airport charges from airports and governments, as well as securities for defined benefit
plans.
Restricted cash is included in the line-item Cash and cash equivalents in the statement of financial position.
Unrestricted cash at 31 December 2025 was NOK 6,318 million (2024: NOK 8,775 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-370": { "value": "
Note 19\u00a0 Cash and cash equivalents
Cash and cash equivalents
Cash and cash equivalents include cash in hand and in the bank, as well as short-term deposits with an original
maturity of three months or less. Cash and cash equivalents in the statement of financial position include
restricted funds from withheld employee tax, guarantees and deposits pledged as collateral to suppliers.
The group holds investments in money market funds classified as cash and cash equivalents. These funds are
highly liquid and readily convertible to a known amount of cash which is subject to an insignificant risk of changes
in value. Investments not meeting these criteria are classified as financial assets measured at fair value through
profit and loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-372": { "value": "
Restricted cash
NOK million
2025
2024
Guarantees for leases and credits from suppliers
440
457
Security deposit on defined benefit plan
406
369
Taxes withheld
112
122
Fuel hedge pledged account
1
36
Dividend claims
47
45
AerCap
111
59
Escrow account
\u2013
5
Total
1,116
1,093
The group holds cash in restricted bank accounts as guarantees for leasing liabilities for aircraft, suppliers of fuel
and handling services, airport charges from airports and governments, as well as securities for defined benefit
plans.
Restricted cash is included in the line-item Cash and cash equivalents in the statement of financial position.
Unrestricted cash at 31 December 2025 was NOK 6,318 million (2024: NOK 8,775 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-373": { "value": "
Note 20\u00a0 Assets pledged as collateral and guarantees
Book value of assets pledged as security and guarantees
NOK million
2025
2024
Prepayment and aircraft
8,478
5,534
Buildings and spare parts
443
396
Total
8,921
5,930
Owned aircraft are pledged as collateral to the providers of the relevant financing for the aircraft. Certain of the
group\u2019s buildings and spare parts are pledged as collateral against other current debt.
Liabilities secured by pledge
NOK million
2025
2024
Aircraft financing
4,138
1,700
Other current debt
166
236
Total
4,304
1,937
The group provides guarantees to the benefit of lenders. The group has not issued any guarantees for third
parties.", "dimensions": { "concept": "ifrs-full:DisclosureOfCollateralExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-375": { "value": "
Note 21\u00a0 Financial instruments
Financial assets
Financial assets are classified according to the following categories: measured at amortised cost, measured at
fair value through profit or loss or measured at fair value through other comprehensive income. The classification
depends on the characteristics of the financial assets and the purpose for which they were acquired. The
management determines the classification of its financial assets at initial recognition.
Financial assets are presented as current assets, unless maturity is higher than 12 months after the reporting date
and management intends to hold the investment longer than 12 months after the reporting date.
Financial liabilities
Financial liabilities are measured at amortised cost.
Loans and other borrowings are recognised initially at fair value, net of transaction costs incurred. They are
subsequently measured at amortised cost. The difference between the proceeds (net of transaction costs) and
the redemption value is recognised in the income statement over the period of the borrowings using the effective
interest method.
A substantial modification of the terms of an existing financial liability or a part of it is accounted for as an
extinguishment of the original financial liability and recognition of a new financial liability. The modification of the
terms is assessed both from a quantitatively and qualitatively. When the modification is assessed to be an
extinguishment, the difference between the carrying amount of the financial liability and the consideration paid
including liabilities assumed is recognised as gain or loss. Any cost or fees incurred are recognised as part of the
gain or loss.
For issued convertible debt, the group assesses at the time of issue if the compound financial instrument
contains both a liability and an equity component. If so, the fair value of the instrument as a whole is allocated to
its equity and liability components. After initial recognition, the liability component is measured at amortised cost.
No gain or loss is recognised upon conversion.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of
the liability for at least 12 months after the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally
enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the
asset and settle the liability simultaneously.
Derivative financial instruments and hedging activities
At the end of 2025, the group has hedged around 45 percent of its planned fuel consumption in 2026 at an
average price of USD 689 per metric ton. In addition to this the group has hedged around 25 percent of its
planned fuel consumption in 2027 at an average price of USD 674 per metric ton. The group has also entered into
currency forward contracts to hedge its currency exposure related to fuel purchases in USD. At the end of 2025,
the group has open USD forward positions of USD 239 million at an average price of 10.13 NOK/USD.
Derivative financial instruments are initially recognised at fair value on the date a derivative contract is entered
into. They are subsequently measured at their fair value at the end of each reporting period. Derivatives are only
used for economic hedging purposes and not as speculative investments. The group applies hedge accounting
for these contracts.
At inception of the hedge relationship, the group documents the economic relationship between hedging
instruments and hedged items, including whether changes in the cash flows of the hedging instruments are
expected to offset changes in the cash flows of hedged items.
The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow
hedges is recognised in other comprehensive income and recycled to profit and loss upon realisation of the
hedge positions.
The full fair value of hedging derivatives is classified as a non-current asset or liability when the remaining
maturity of the hedged item is more than 12 months. It is classified as a current asset or liability when the
remaining maturity of the hedged item is less than 12 months.
Hedge effectiveness
Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective
effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging
instrument.
Hedge ineffectiveness for jet fuel hedges can be related to different factors such as differences in the purchased
fuel and hedged commodity, the hedge ratio of the hedging relationship being different from the ratio of the
hedged item actually hedged and the quantity of the hedging instruments actually used for the hedge, as well as
the group\u2019s and its counterparties\u2019 credit risks. The group calculates ineffectiveness in its hedging relationships
designated for hedge accounting based on own input from budget and cash flow forecasts as well on external
input from mark to market valuations from financial institutions.
Hedge ineffectiveness in relation to fuel derivatives is negligible for 2025.
Financial instruments by category
NOK million
Financial assets
at amortised cost
Financial assets
at fair value
through profit or
loss
Derivatives
designated as
hedging
instruments
Total
Assets as per balance sheet 2025
Investments in financial assets
1,532
1,122
2,654
Derivative financial instruments
\u2013
\u2013
29
29
Trade and other receivables*
2,848
\u2013
2,848
Cash and cash equivalents
7,434
\u2013
7,434
Total
11,814
1,122
29
12,965
Assets as per balance sheet 2024
Investments in financial assets
\u2013
1,050
1,050
Derivative financial instruments
\u2013
\u2013
76
76
Trade and other receivables*
2,542
\u2013
2,542
Cash and cash equivalents
9,868
\u2013
9,868
Total
12,410
1,050
76
13,536
* Prepayments not included in trade and other receivables amounted to NOK 671 million in 2025 and NOK 751 million in 2024.
Investments in financial assets per 31 December 2025 mainly consists of investments in fixed income funds,
deposits for retained claims bonds in addition to an investment in shares of Norsk E-Fuel AS.
NOK million
Financial liabilities at
amortised cost
Derivatives designated
as hedging instruments
Total
Liabilities per balance sheet 2025
Borrowings
5,847
\u2013
5,847
Lease liabilities
13,704
\u2013
13,704
Derivative financial instruments
\u2013
230
230
Trade and other payables**
4,695
\u2013
4,695
Total
24,246
230
24,476
Liabilities per balance sheet 2024
Borrowings
4,753
\u2013
4,753
Lease liabilities
11,325
\u2013
11,325
Derivative financial instruments
\u2013
271
271
Trade and other payables**
3,857
\u2013
3,857
Total
19,934
271
20,206
** Public duties and liabilities from customer loyalty programme not included in trade and other payables was NOK 827 million in 2025 and NOK
1,003 million in 2024.
See Note 26 for details related to borrowings.
Credit quality of financial assets
NOK million
2025
2024
Trade and other receivables
Counterparties with external credit rating A or better
428
494
Counterparties without external credit rating
2,420
2,048
Total trade and other receivables
2,848
2,542
Cash and cash equivalents
A+ or better
3,979.6
5,760.5
BBB+
3,454.6
4,107.9
Total cash and cash equivalents
7,434.3
9,868.4
Investments in financial assets
NOK million
2025
2024
1 January
1,050
16
Additions
1,532
1,022
Disposals
4
\u2013
Net gains (losses) recognised in profit and loss
76
12
31 December
2,654
1,050
Additions to investments in financial assets in 2025 relate to deposits for retained claims bonds. Disposals in 2025
relate to the sale of shares in Norwegian Block Exchange AS.
Net gain recognised in profit and loss in 2025 mainly relates to an increase in value of the group\u2019s investments in
short-term fixed income funds. The investments in these funds are considered highly liquid. However, based on
their risk profile, they are not classified as cash and cash equivalents
Derivative financial instruments
2025
2024
NOK million
Assets
Liabilities
Assets
Liabilities
Forward commodities contracts
29
201
28
271
Forward currency contracts
\u2013
29
47
\u2013
Total
29
230
76
271
Non-current portion
\u2013
63
35
38
Current portion
29
167
40
233
Forward commodity and currency contracts designated as cash flow hedges
Forward contracts relate to jet fuel derivatives and USD forward purchases. The net fair value of the outstanding
commodity and currency forward contracts at 31 December 2025 was negative NOK 201 million (2024: negative
NOK 196 million).
At 31 December 2025, the group had secured 559,650 metric tonnes jet fuel (2024: 443,500 metric tonnes) and
USD 239 million (2024: USD 74 million) through forward contracts.
Fuel derivatives are categorised as financial assets or financial liabilities at fair value through other
comprehensive income (OCI) and are measured at fair value at each reporting date. The following amounts were
recognised in OCI during the reporting period:
NOK million
2025
2024
Gains (losses) on cash flow hedges
(348)
(36)
Hedging (gains) losses reclassified to profit or loss
344
\u2013
Total hedging gains (losses) recognised in OCI
(4)
(36)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-374": { "value": "
Note 21\u00a0 Financial instruments
Financial assets
Financial assets are classified according to the following categories: measured at amortised cost, measured at
fair value through profit or loss or measured at fair value through other comprehensive income. The classification
depends on the characteristics of the financial assets and the purpose for which they were acquired. The
management determines the classification of its financial assets at initial recognition.
Financial assets are presented as current assets, unless maturity is higher than 12 months after the reporting date
and management intends to hold the investment longer than 12 months after the reporting date.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-376": { "value": "
Financial liabilities
Financial liabilities are measured at amortised cost.
Loans and other borrowings are recognised initially at fair value, net of transaction costs incurred. They are
subsequently measured at amortised cost. The difference between the proceeds (net of transaction costs) and
the redemption value is recognised in the income statement over the period of the borrowings using the effective
interest method.
A substantial modification of the terms of an existing financial liability or a part of it is accounted for as an
extinguishment of the original financial liability and recognition of a new financial liability. The modification of the
terms is assessed both from a quantitatively and qualitatively. When the modification is assessed to be an
extinguishment, the difference between the carrying amount of the financial liability and the consideration paid
including liabilities assumed is recognised as gain or loss. Any cost or fees incurred are recognised as part of the
gain or loss.
For issued convertible debt, the group assesses at the time of issue if the compound financial instrument
contains both a liability and an equity component. If so, the fair value of the instrument as a whole is allocated to
its equity and liability components. After initial recognition, the liability component is measured at amortised cost.
No gain or loss is recognised upon conversion.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of
the liability for at least 12 months after the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally
enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the
asset and settle the liability simultaneously.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-377": { "value": "
Derivative financial instruments and hedging activities
At the end of 2025, the group has hedged around 45 percent of its planned fuel consumption in 2026 at an
average price of USD 689 per metric ton. In addition to this the group has hedged around 25 percent of its
planned fuel consumption in 2027 at an average price of USD 674 per metric ton. The group has also entered into
currency forward contracts to hedge its currency exposure related to fuel purchases in USD. At the end of 2025,
the group has open USD forward positions of USD 239 million at an average price of 10.13 NOK/USD.
2025
2024
NOK million
Assets
Liabilities
Assets
Liabilities
Forward commodities contracts
29
201
28
271
Forward currency contracts
\u2013
29
47
\u2013
Total
29
230
76
271
Non-current portion
\u2013
63
35
38
Current portion
29
167
40
233
Forward commodity and currency contracts designated as cash flow hedges
Forward contracts relate to jet fuel derivatives and USD forward purchases. The net fair value of the outstanding
commodity and currency forward contracts at 31 December 2025 was negative NOK 201 million (2024: negative
NOK 196 million).
At 31 December 2025, the group had secured 559,650 metric tonnes jet fuel (2024: 443,500 metric tonnes) and
USD 239 million (2024: USD 74 million) through forward contracts.
Fuel derivatives are categorised as financial assets or financial liabilities at fair value through other
comprehensive income (OCI) and are measured at fair value at each reporting date. The following amounts were
recognised in OCI during the reporting period:
NOK million
2025
2024
Gains (losses) on cash flow hedges
(348)
(36)
Hedging (gains) losses reclassified to profit or loss
344
\u2013
Total hedging gains (losses) recognised in OCI
(4)
(36)
", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-378": { "value": "
Derivative financial instruments are initially recognised at fair value on the date a derivative contract is entered
into. They are subsequently measured at their fair value at the end of each reporting period. Derivatives are only
used for economic hedging purposes and not as speculative investments. The group applies hedge accounting
for these contracts.
At inception of the hedge relationship, the group documents the economic relationship between hedging
instruments and hedged items, including whether changes in the cash flows of the hedging instruments are
expected to offset changes in the cash flows of hedged items.
The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow
hedges is recognised in other comprehensive income and recycled to profit and loss upon realisation of the
hedge positions.
The full fair value of hedging derivatives is classified as a non-current asset or liability when the remaining
maturity of the hedged item is more than 12 months. It is classified as a current asset or liability when the
remaining maturity of the hedged item is less than 12 months.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-379": { "value": "
Hedge effectiveness
Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective
effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging
instrument.
Hedge ineffectiveness for jet fuel hedges can be related to different factors such as differences in the purchased
fuel and hedged commodity, the hedge ratio of the hedging relationship being different from the ratio of the
hedged item actually hedged and the quantity of the hedging instruments actually used for the hedge, as well as
the group\u2019s and its counterparties\u2019 credit risks. The group calculates ineffectiveness in its hedging relationships
designated for hedge accounting based on own input from budget and cash flow forecasts as well on external
input from mark to market valuations from financial institutions.
Hedge ineffectiveness in relation to fuel derivatives is negligible for 2025.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-381": { "value": "
Note 22\u00a0 Equity and shareholder information
Equity
Share capital comprises the number of shares multiplied by their nominal value and are classified as equity.
Transaction costs directly attributable to an equity transaction are recognised directly in equity net of tax. When
equity instruments are issued to a creditor to extinguish all or part of an existing liability, the equity instruments
are recognised initially at fair value.
During 2025, the group has redeemed all outstanding perpetual bonds previously classified as equity, and
purchased treasury shares in the amount of NOK 48 million in connection with the groups\u2019s incentive programme.
Treasury shares held at the end of the period are included in Other reserves as part of total equity.
Shares, share issues and dividend payments
Numbers of ordinary
shares
Share capital
Share premium
Total
1 January 2025
963,880,462
96
25,747
25,844
Share issue 26 May 2025
83,078,529
8
745
753
Share issue 05 June 2025
8,279,928
1
74
76
Dividend payment 20 August 2025
\u2013
\u2013
(950)
(950)
31 December 2025
1,055,238,919
106
25,617
25,723
Numbers of ordinary
shares
Share capital
Share premium
Total
1 January 2024
961,770,906
96
25,728
25,824
Share issue 28 February 2024
932,508
\u2013
9
9
Share issue 21 March 2024
1,177,048
\u2013
11
11
31 December 2024
963,880,462
96
25,747
25,844
There is only one category of shares, and all shares have equal rights. For information about employee share
options, see Note 23.
On 26 May 2025, the group announced conversion notices from bondholders representing NOK 780 million
Conversion Bonds, with the issue of 83,078,529 new shares.
On 5 June 2025, the group announced conversion notices from bondholders representing NOK 78 million
Conversion Bonds, with the issue of 8,279,928 new shares.
All transactions resulted in a total of 1,055,238,919 shares as of 31 December 2025.
Description of items recognised as Other comprehensive income
Currency translation differences
Negative net NOK 390 million has been booked as exchange rate differences under comprehensive income in
2025 (2024: positive NOK 331 million). The exchange differences arise from translation of foreign operations from
functional currency to presentation currency.
Actuarial gains and losses
During 2025, NOK 53 million in actuarial losses arising from defined benefit pension plans was recognised in
other comprehensive income (2024: NOK 45 million in actuarial loss).
The largest shareholders at 31 December 2025 were:
Name
Country
Number of shares
Percent
Geveran Trading Company, Ltd.
Cyprus
140,063,236
13.3%
Folketrygdfondet
Norway
96,342,118
9.1%
Acadian Asset Management LLC
United States
36,616,739
3.5%
Alfred Berg Kapitalforvaltning AS
Norway
32,508,246
3.1%
Nordea Funds Oy
Finland
29,701,670
2.8%
KLP Kapitalforvaltning AS
Norway
23,054,725
2.2%
Nordnet Bank AB.
Norway
21,328,845
2.0%
DNB Asset Management AS
Norway
20,920,023
2.0%
Goldman Sachs International
United Kingdom
20,615,814
2.0%
JPMorgan Asset Management U.K.
Limited
United Kingdom
19,986,854
1.9%
American Century Investment
Management, Inc.
United States
19,145,379
1.8%
Silver Point Capital, L.P.
United States
18,000,000
1.7%
BlackRock Institutional Trust
Company, N.A.
United States
14,902,517
1.4%
HSBC Bank Plc
United Kingdom
14,683,284
1.4%
UBS Limited
United Kingdom
14,506,648
1.4%
DWS Investments UK Limited
United Kingdom
14,323,706
1.4%
Argonaut Capital Partners LLP
United Kingdom
13,500,148
1.3%
Holmen Fondsforvaltning AS
Norway
13,450,000
1.3%
Nuveen LLC
United States
13,196,845
1.3%
Avanza Bank AB
Sweden
12,117,199
1.1%
Top 20 shareholders
588,963,996
55.8%
Other shareholders
466,274,923
44.2%
Total number of shares
1,055,238,919
100.0%
The largest shareholders at 31 December 2024 were:
Name
Country
Number of shares
Percent
Geveran Trading Company, Ltd.
Cyprus
140,063,236
14.5%
Folketrygdfondet
Norway
84,060,755
8.7%
DNB Asset Management AS
Norway
41,765,331
4.3%
Ballyfin Aviation Limited
Ireland
31,472,703
3.3%
Nordnet Bank AB.
Norway
27,585,294
2.9%
Nordea Funds Oy
Finland
26,772,997
2.8%
Silver Point Capital, L.P.
United States
24,092,031
2.5%
Sundt AS
Norway
21,353,508
2.2%
Avanza Bank AB
Sweden
17,486,438
1.8%
American Century Investment
Management, Inc.
United States
12,218,646
1.3%
Holmen Fondsforvaltning AS
Norway
12,200,000
1.3%
KLP Fondsforvaltning AS
Norway
11,871,996
1.2%
Handelsbanken Kapitalf\u00f6rvaltning AB
Sweden
11,503,980
1.2%
Brumm AS
Norway
10,096,560
1.0%
Goldman Sachs Asset Management,
L.P.
United States
9,809,949
1.0%
Eika Kapitalforvaltning AS
Norway
8,861,218
0.9%
Storebrand Kapitalforvaltning AS
Norway
6,816,460
0.7%
HSBC Continental Europe S.A.,
Germany
Germany
6,622,434
0.7%
Swedbank AB
Sweden
6,614,983
0.7%
UBS Switzerland AG
Switzerland
6,481,818
0.7%
Top 20 shareholders
517,750,337
53.7%
Other shareholders
446,130,125
46.3%
Total number of shares
963,880,462
100.0%
Shares directly or indirectly held by members of the Boards of Directors and Executive Management at 31 December 2025:
Name
Title
Shares*
Dag Mejdell
Chair
65,000
Karina Deacon
Board Member
20,000
Sofia Arhall
Board Member
4,054
Stephen Kavanagh
Board Member
13,550
Daniel Skjeldam
Board Member
86,000
Katrine Gundersen
Board Member - Employee representative
2,549
Torstein Hiorth Soland
Board Member - Employee representative
742
Trond Moe
Board Member - Employee representative
1,176
Geir Karlsen
Chief Executive Officer
651,478
Hans-J\u00f8rgen Wibstad
Chief Financial Officer
92,775
Anne-Sissel Sk\u00e5nvik
Chief Communications, Customer and Corporate Affairs Officer
52,870
Magnus Thome Maursund
Chief Commercial Officer
7,732
Knut Olav Irgens H\u00f8eg
Chief IT & Business Services Officer
189,831
Guro Halvorsen Poulsen
Chief People Officer
178,559
Henrik Fjeld
Chief Operation Officer
\u2013
Jeanette B\u00f8-Alnes
Chief Performance Officer
25,924
Tore Jenssen
Chief Executive Officer - Wider\u00f8e
\u2013
* Including shares held by related parties.
Options directly held by the members of Executive Management:
Issued in
2021
2022
2023
2025
Strike price
9.20
12.60
12.60
18.84
Name
Title
Expiry
2026-2029
2029
2030
2032
Total
Geir Karlsen
Chief Executive Officer
1,000,000
792,548
764,183
1,241,476
3,802,707
Hans-J\u00f8rgen Wibstad
Chief Financial Officer
\u2013
422,692
140,897
552,940
1,116,529
Anne-Sissel Sk\u00e5nvik
Chief Communications, Customer and Corporate
Affairs Officer
\u2013
35,225
23,483
148,534
207,742
Magnus Thome Maursund
Chief Commercial Officer
\u2013
184,927
61,642
304,534
551,103
Knut Olav Irgens H\u00f8eg
Chief IT & Business Services Officer
\u2013
162,032
54,011
263,527
479,570
Guro Halvorsen Poulsen
Chief People Officer
\u2013
46,966
31,311
252,280
330,557
Henrik Fjeld
Chief Operation Officer
\u2013
\u2013
\u2013
252,414
252,414
Jeanette B\u00f8-Alnes
Chief Performance Officer
\u2013
\u2013
\u2013
104,892
104,892
Tore Jenssen
Chief Executive Officer - Wider\u00f8e
\u2013
190,211
63,404
257,088
512,203
Due to payment of dividends of NOK 0.90 per share in August 2025, the strike prices of share options have been adjusted accordingly.
There were no grants of share options to members of the Executive Management team in 2024.\u00a0
Specification of other reserves
NOK million
Translation
differences
Cash-flow hedge
reserve
Treasury shares
Total
1 January 2024
386
(140)
\u2013
246
Translation differences
331
\u2013
\u2013
331
Hedge movements
\u2013
(36)
\u2013
(36)
31 December 2024
717
(176)
\u2013
541
Translation differences
(390)
\u2013
\u2013
(390)
Hedge movements
\u2013
(4)
\u2013
(4)
Treasury shares
\u2013
\u2013
(48)
(48)
31 December 2025
328
(180)
(48)
99
See also the consolidated statement of changes in equity for an overview of total changes in equity.
Other paid-in equity
Other paid-in equity amounts to NOK 738 million at 31 December 2025 (2024: NOK 729 million). Changes in 2025
relate to stock option expenses.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-380": { "value": "
Note 22\u00a0 Equity and shareholder information
Equity
Share capital comprises the number of shares multiplied by their nominal value and are classified as equity.
Transaction costs directly attributable to an equity transaction are recognised directly in equity net of tax. When
equity instruments are issued to a creditor to extinguish all or part of an existing liability, the equity instruments
are recognised initially at fair value.
During 2025, the group has redeemed all outstanding perpetual bonds previously classified as equity, and
purchased treasury shares in the amount of NOK 48 million in connection with the groups\u2019s incentive programme.
Treasury shares held at the end of the period are included in Other reserves as part of total equity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-382": { "value": "-390000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-383": { "value": "331000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-384": { "value": "-53000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-385": { "value": "-45000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f-386": { "value": "
Note 23\u00a0 Options
Share-based payments
The group operates a number of equity-settled share-based compensation plans under which the entity receives
services from employees as consideration for equity instruments of the group. The fair value of the employee
services received in exchange for the grants of the options is recognised as an expense over the vesting period.
The total amount to be expensed is determined by referring to the fair value of the options granted.
The fair value of the options to be settled in equity instruments is estimated at the grant date. The fair value is
determined by an external part by applying the Black\u2013Scholes option-pricing model. The assumptions underlying
the number of options expected to vest are adjusted to reflect conditions prevailing at the reporting date.
The social security contributions payable in connection with the grant of the share options is considered an
integral part of the grant itself, and the charge will be treated as a cash-settled transaction.
2025 Programme
On 7 August 2025, Executives in Norwegian and Wider\u00f8e were granted a total of 3,686,376 share options in
Norwegian Air Shuttle ASA (NAS) with a strike price of NOK 19.74 per share. 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. 12 August 2025 dividend payment was made of NOK 0.90,
resulting in a reduction in strike price. New strike price on share options are NOK 18.84.
2024 Programme
The share option programme was not offered in 2024.
2023 Programme
On 29 September 2023, Executives in Norwegian were granted a total of 1,243,820 share options in Norwegian Air
Shuttle ASA (NAS) with a strike price of NOK 13.50 per share. 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. 12 August 2025 dividend payment was made of NOK 0.90, resulting
in a reduction in strike price. New strike price on share options are NOK 12.60.
2022 Programme
According to the share option plan adopted on 25.05.2022 by the Annual General Meeting of Norwegian Air
Shuttle ASA, 2,499,996 options were granted to Executives on 30 September 2022, with a strike price of NOK
13.50 per share. One-third of options granted can be exercised at the earliest after one, two and three years
respectively, and the options shall expire after seven years. 12 August 2025 dividend payment was made of NOK
0.90, resulting in a reduction in strike price. New strike price on share options are NOK 12.60.
2021 Programme
The share option programme was not offered in 2021. Upon appointment as CEO 21 June 2021, Geir Karlsen was
awarded 1,000,000 options with one-fourth of the options vesting on 21 June 2022, one-fourth vesting on 21 June
2023, one-fourth vesting on 21 June 2024, and one-fourth vesting on 21 June 2025. Options expire four years
after the vesting date and the strike price is NOK 10.10. 12 August 2025 dividend payment was made of NOK 0.90,
resulting in a reduction in strike price. New strike price on share options are NOK 9.20.
2019 Programme
On 7 May 2019 the Annual General Meeting of Norwegian Air Shuttle ASA adopted a share option programme
limited to 12,000 share options. 12,000 options under this programme were granted to 10 Executives in May 2019.
Options may be exercised at the earliest in 2022, and any remaining options in 2026 at the latest. The exercise
price is NOK 4,300.00, which was the average price of the NAS share on trading days the first 10 calendar days
after presentation of Norwegian\u2019s first quarter 2019 financial results, plus 15%. On 20 November 2019 6,000
additional options were granted to 2 Executives. The 2019 programme is adjusted for the reverse share split.
Strike price is multiplied by 100 and the number of outstanding options is divided by 100.
On 31 December 2024 there were 9,500 outstanding share options under this plan.
2025
Average exerc. price
2024
Average exerc. price
Outstanding 1 January
4,486,580
23.54
4,486,580
23.54
Granted
3,686,377
18.84
\u2013
\u2013
Exercised
(372,592)
13.50
\u2013
\u2013
Expired
(1,800)
4,300.00
\u2013
\u2013
Forfeited
(129,156)
\u2013
\u2013
\u2013
Outstanding 31 December
7,669,409
20.47
4,486,580
23.54
The average fair value of the options granted during 2025 was 7.70 NOK per option. No options were granted
during 2024. The fair value at grant date is independently determined using the Black\u2013Scholes option model. The
calculations are based on the following assumptions:
Assumptions
2025
Share price on grant date
16.20
Strike price on grant date
19.74
Volatility
0.46
Lifetime
7
Risk-free interest rate
3.80
Share savings programme
Norwegian offers all employees participation in a long-term incentive programme (LTI) through an employee
share savings plan. The objective of the LTI is to align and strengthen the interest of employees and shareholders
and to remunerate for long-term commitment and value creation.
Under this plan, Norwegian will match 50 percent of the individuals\u2019 investment, limited to NOK 24,000 per
annum. Provided that the employee contributes NOK 24,000 annually, Norwegian\u2019s contribution is NOK 12,000.
The grant has a one-year vesting period. If shares are kept for two calendar years, the participants will be
allocated bonus shares proportionate to their purchase, as follows. For every 10th share of employee contribution,
up to NOK 36,000 per annum, and for Norwegian\u2019s contribution, up to NOK 12,000 per annum, one bonus share
will be earned.
The fair value of the bonus shares is measured at the grant date using the Black\u2013Scholes option-pricing model.
The fair value of the bonus shares and the corresponding estimated social security cost are expensed as
personnel costs over the vesting period. Changes in estimated social security costs are expensed over the
remaining vesting period.
Total share savings programme expense in 2025 amounted to NOK 10 million (2024: NOK 8 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-387": { "value": "
Note 23\u00a0 Options
Share-based payments
The group operates a number of equity-settled share-based compensation plans under which the entity receives
services from employees as consideration for equity instruments of the group. The fair value of the employee
services received in exchange for the grants of the options is recognised as an expense over the vesting period.
The total amount to be expensed is determined by referring to the fair value of the options granted.
The fair value of the options to be settled in equity instruments is estimated at the grant date. The fair value is
determined by an external part by applying the Black\u2013Scholes option-pricing model. The assumptions underlying
the number of options expected to vest are adjusted to reflect conditions prevailing at the reporting date.
The social security contributions payable in connection with the grant of the share options is considered an
integral part of the grant itself, and the charge will be treated as a cash-settled transaction.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-388": { "value": "
Note 24\u00a0 Pensions
The group operates various pension schemes. The schemes are generally funded through payments to insurance
companies or trustee-administered funds, determined by periodic actuarial calculations.
Defined benefit plans
The cost of providing benefits under defined benefit plans is determined using the projected unit credit actuarial
valuation method. The past service cost is recognised as an expense on a straight-line basis over the average
period until the benefits are vested. If the benefits are already vested immediately following the introduction of or
changes to a pension plan, past service cost is recognised immediately.
The defined benefit obligation is the aggregate of the present value of the defined benefit obligation and
actuarial gains and losses not recognised reduced by past service costs not yet recognised and the fair value of
plan assets out of which the obligations are to be settled directly. If such aggregate is negative, the asset is
measured at the lower of such aggregate or at the aggregate of cumulative unrecognised net actuarial losses and
past service cost and the present value of any economic benefits available in the form of refunds from the plan or
reductions in the future contributions to the plan.
The group offers early retirement plans (AFP) to employees in Norway in multi-employer defined benefit plans.
Two of the plans which are offered to crew are accounted for as defined benefit plans. The net recognised
pension liability as at 31 December 2025 is based on historical average of actual withdrawals from the scheme. An
early retirement plan for all employees in Norway is recognised in the income statement as a defined contribution
plan as the plan\u2019s administrator has not allocated actuarial gains (losses) to the members of the AFP pension plan
at 31 December 2025
Defined contribution plans
In addition to the defined benefit plan described above, the group operates a defined contribution plan. A
defined contribution plan is a pension plan under which the group pays fixed contributions to a separate entity.
The group has no legal or constructive obligations to pay further contributions should the fund not hold sufficient
assets to pay all employees the benefits relating to employee service in the current and prior periods. The
contributions are recognised as employee benefit expenses when they are due. Prepaid contributions are
recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.
The group operated defined contribution plans in Norway, Denmark, Sweden, Finland, Ireland, UK, Spain and
Latvia, and defined benefit plans in Norway.
The defined contribution plans require that the group pays premiums to public or private administrative pension
plans on a mandatory, contractual or voluntary basis. The group has no further obligations once these premiums
are paid. The premiums are accounted for as personnel expenses as soon as they are incurred. Pre-paid
premiums are accounted for as an asset to the extent that future benefits can be determined as plausible.
Defined contribution plans comply with local pension legislation.
Pension expenses on defined contribution plans are NOK 672 million in 2025 (2024: NOK 615 million).", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-389": { "value": "
Note 25\u00a0 Provision for periodic maintenance
Periodic maintenance on leased aircraft and other provisions
NOK million
2025
2024
Opening balance
4,683
3,195
Provisions charged to the income statement
2,067
2,043
Derecognition of maintenance provisions related to aircraft acquired during
the period
(849)
\u2013
Maintenance services performed and invoices received
(1,337)
(867)
Other provision
(195)
312
Closing balance
4,369
4,683
Classified as current liabilities
292
130
Classified as non-current provision
4,077
4,554
Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past
event, it is probable that an outflow of resources will be required to settle the obligation and the amount can be
reliably estimated.
For aircraft held under lease agreements, Norwegian is contractually committed to either return the aircraft in a
certain condition or to compensate the lessor based on the actual condition of the airframe, engines, and life-
limited parts upon return. In addition, during the lease term the group is obliged to follow the maintenance
programme as defined by the aircraft manufacturers. In order to fulfil the conditions of the lease and
maintenance obligations in the form of major airframe overhaul, engine maintenance checks, and restitution of
major life-limited parts, the group is required to perform these obligations during the period of the lease and
upon return of the aircraft to the lessor. The estimated maintenance costs are accrued and capitalised as part of
the right-of-use asset for leased aircraft, based on the estimated current cost of the major airframe overhaul,
engine maintenance checks and restitution of major life-limited parts, calculated by either reference to the
number of hours flown or cycles operated since last maintenance event or since the aircraft was new, or the age
of the aircraft.
The estimated costs of overhauls and maintenance are based on the group\u2019s maintenance programme, the
group\u2019s and industry experience, and contractual and catalogue prices. Changes in estimated maintenance event
costs over time are capitalised as part of the right-of-use asset for leased aircraft with reference to number of
hours flown or cycles operated during the period since the last maintenance event or since the aircraft was new.
Additional provisions are also set to meet specific redelivery conditions if these are deemed to be other or higher
than the estimated maintenance costs. The group\u2019s aircraft leases are typically between two and twelve years in
length, and several of the maintenance events will occur within the leasing period.
Parts of the periodic maintenance will be conducted in 2026, and NOK 292 million is classified as a current
liability for periodic maintenance (2024: NOK 130 million). The current part of periodic maintenance is estimated
based on the planned maintenance in 2025. Other provisions in the table above consist of currency effects,
credits received from service suppliers and other adjustments.
Note 27\u00a0 Provisions
The group is involved in various claims and legal proceedings arising in the ordinary course of business. These
claims relate to, but are not limited to, the group\u2019s business practices, employment matters, and tax matters. The
group recognises provisions for present obligations for which it is probable that an outflow of economic
resources will be required to settle these obligations.
On 21 September 2021, the Norwegian Environment Agency concluded in an administrative ruling that the cram
down of claims in the Examinership and Reconstruction does not apply to the group\u2019s obligation to surrender
emission allowances under EU ETS (see Section 9.6.2 \u201cEnvironmental regulations\u201d) for emissions predating 18
November 2020. The contemplated market value of such allowances is approximately NOK 375 million at the end
of 2025. The Reconstructor determined that the Reconstruction applies to the group\u2019s obligation to surrender
emission allowances as a different view would have given preference to the EU ETS regime, which the current
insolvency legislation does not facilitate. Therefore, the group was unable to comply with the Norwegian
Environment Agency\u2019s demand of the group surrendering emissions allowances. The lack of compliance caused
the Norwegian Environment Agency to impose a penalty of approximately NOK 400 million on the group. The
group appealed the decision, but on 16 December 2022 the Ministry of Climate and Environment decided to
uphold the Norwegian Environment Agency\u2019s decision. The group, supported by its advisors and the
Reconstructor, are of the view that the group\u2019s obligation to surrender emission allowances for emissions pre-
dating 18 November 2020 can be settled by paying dividend of 5 percent introduced under the Reconstruction
and the decision to impose a penalty of NOK 400 million is invalid. On this basis, the group filed a statement of
claim to Oslo District Court on 9 January 2023.
In June 2023, Oslo District Court decided to submit the case to the EFTA Court for consultation on the EU/EEA law
implications of the matter. The EFTA Court provided an advisory opinion in August 2024, stating that \u201cArticle
12(2a) of Directive 2003/87/EC [\u201cEU ETS Directive\u201d] of the European Parliament and of the Council establishing a
system for greenhouse gas emissions allowance trading within the Union must be interpreted as precluding
national legislation from providing that the obligation to surrender emissions allowances may be settled by
dividend in a compulsory debt settlement in connection with the restructuring of an insolvent company\u201d. The
group takes note of the advisory opinion, however, the group is of the opinion that the EFTA Court\u2019s assessments
and conclusion are not a correct interpretation of the EU ETS Directive.
Effective 21 October 2025, regulation 23 December 2004 concerning mandatory quotas and the trading of
emission allowances for greenhouse gases (the Allowance Regulation) (Nw.: klimakvoteforskriften) implementing
Regulation (EU) 2023/2904 does not require \"compliance status A\" in the EU greenhouse gas emission trading
registry for transfers of free allowances anymore. NAS, which currently holds \"compliance status B\" as the group's
obligation to surrender 372,000 emission allowances for 2020 emissions was settled through dividends in
accordance with the reconstruction plan which was approved by Oslo City Court and effective as of 26 May 2021,
has received the free allowances previously allocated to the group for 2024 and 2025 during 2025.
The legal issue concerning treatment of emission allowances in insolvency has never been tried in court before.
As a consequence of the Reconstruction, the amount corresponding to the contemplated market value of such
allowances was crammed down and the group has a provision of NOK 15 million at the end of 2025. The group has
paid the ETS penalty fee in 2023 and will seek a return of this amount plus interest following a final conclusion.
On 20 December 2024, the Oslo District Court ruled that Norwegian was entitled to fulfil its EU ETS obligations for
2020 by offering dividend corresponding to the allowance obligations, and that the penalty for the failure to meet
the EU ETS obligations for 2020 was unlawful. Thus, Norwegian is entitled to a full refund of the penalty amount,
including interest amounting to NOK 134 million at the end of 2025, if the decision becomes final and
enforceable.
On 29 January 2025, Norwegian was notified that the Ministry of Climate and Environment have filed an appeal to
the Borgarting Court of Appeal to challenge the decision of the Oslo District Court. On 12 March 2026, the Court
of Appeal ruled to uphold the Ministry\u2019s appeal, finding that Norwegian was obliged to fulfil its EU ETS obligations
for 2020 in full, irrespective of the reconstruction. The court also ruled that the penalty imposed for the failure to
meet the EU ETS obligations for 2020 was valid.
The judgement from the Borgarting Court of Appeal does not align with the judgement of the Oslo District Court,
and is not final. Norwegian will appeal the court ruling, and upholds its assessment that it has legally not been
able to fulfil its EU ETS obligations in full during the reconstruction. The group does not recognise any additional
provisions following the ruling from the Court of Appeal.
The information in this note addresses parts of SBM-3 in the Sustainability statement.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-390": { "value": "
Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past
event, it is probable that an outflow of resources will be required to settle the obligation and the amount can be
reliably estimated.
For aircraft held under lease agreements, Norwegian is contractually committed to either return the aircraft in a
certain condition or to compensate the lessor based on the actual condition of the airframe, engines, and life-
limited parts upon return. In addition, during the lease term the group is obliged to follow the maintenance
programme as defined by the aircraft manufacturers. In order to fulfil the conditions of the lease and
maintenance obligations in the form of major airframe overhaul, engine maintenance checks, and restitution of
major life-limited parts, the group is required to perform these obligations during the period of the lease and
upon return of the aircraft to the lessor. The estimated maintenance costs are accrued and capitalised as part of
the right-of-use asset for leased aircraft, based on the estimated current cost of the major airframe overhaul,
engine maintenance checks and restitution of major life-limited parts, calculated by either reference to the
number of hours flown or cycles operated since last maintenance event or since the aircraft was new, or the age
of the aircraft.
The estimated costs of overhauls and maintenance are based on the group\u2019s maintenance programme, the
group\u2019s and industry experience, and contractual and catalogue prices. Changes in estimated maintenance event
costs over time are capitalised as part of the right-of-use asset for leased aircraft with reference to number of
hours flown or cycles operated during the period since the last maintenance event or since the aircraft was new.
Additional provisions are also set to meet specific redelivery conditions if these are deemed to be other or higher
than the estimated maintenance costs. The group\u2019s aircraft leases are typically between two and twelve years in
length, and several of the maintenance events will occur within the leasing period.
Parts of the periodic maintenance will be conducted in 2026, and NOK 292 million is classified as a current
liability for periodic maintenance (2024: NOK 130 million). The current part of periodic maintenance is estimated
based on the planned maintenance in 2025. Other provisions in the table above consist of currency effects,
credits received from service suppliers and other adjustments.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-391": { "value": "
Note 26\u00a0 Borrowings
Aircraft financing
Aircraft financing includes fixed interest rates between 4.1 and 4.8 percent for financing of four owned aircraft
and floating interest rates between 3.3 and 4.1 percent for sixteen owned aircraft. Floating interest rates between
4 and 4.2 percent for financing of two spare engines. The borrowings mature quarterly after the delivery of aircraft
or engine. All aircraft financing is denominated in USD.
Retained claims bonds
No interest payments. The effective interest rate is 9.4 percent. The bond issue is denominated in NOK and
matures on 30 September 2026.
Term facility
The group has term loan facility outstanding per 31 December 2025. The interest rate is NIBOR and margin of 1.85
percent. The term facility is denominated in NOK and has maturity date 31 December 2027.
The facility has no instalments and is scheduled to be repaid at the settlement date.
Nominal value at 31 December 2025:
NOK million
Nominal value
Unamortised effective
interest cost
Book value
Effective interest
rate
Aircraft financing
4,215
(79)
4,135
5.9%
Term facility
150
\u2013
150
5.9%
Retained claims bonds
1,495
(101)
1,394
9.4%
Other non-current debt
2
\u2013
2
\u2013%
Other current debt
166
\u2013
166
5.9%
Total
6,027
(180)
5,847
Nominal value at 31 December 2024:
NOK million
Nominal value
Unamortised effective
interest cost
Book value
Effective interest
rate
Aircraft financing
1,505
(5)
1,500
5.5%
Term facility
200
\u2013
200
5.6%
Retained claims bonds
3,157
(343)
2,814
9.4%
Other non-current debt
2
\u2013
2
\u2013%
Other current debt
236
\u2013
236
5.6%
Total
5,101
(348)
4,753
Effective interest rate during 2025, recognised as other financial items, please refer to Note 11, and capitalised
borrowing costs, please refer to Note 15, is 6.4 percent (2024: 6.2 percent).
For information on the fair value of borrowings please refer to Note 3.
Classification of borrowings
NOK million
2025
2024
Non-current
Aircraft financing
3,630
1,381
Term facility
150
200
Retained claims bonds
\u2013
1,365
Other non-current debt
2
2
Total non-current borrowings
3,782
2,948
Current
Aircraft financing
505
119
Retained claims bonds
1,394
1,449
Other current debt
166
236
Total current borrowings
2,065
1,805
Total borrowings
5,847
4,753
Cash and non-cash changes in total borrowings
Changes in total borrowings, excluding lease liabilities, consist of both cash effects (disbursements and
repayments) and non-cash effects (conversion- and reconstruction effects, amortisation and currency translation
effects). The following is the changes in the group\u2019s borrowings stemming from cash effects and non-cash
effects:
NOK million
2025
2024
Opening balance total borrowings
4,753
3,745
Loan proceeds
3,402
192
Repayment
(2,416)
(719)
Cash changes
986
(527)
Acquisition from business combinations
\u2013
1,108
Net amortisation effects
255
266
Currency translation effects
(147)
161
Non-cash changes
108
1,535
Closing balance total borrowings
5,847
4,753
For more information regarding lease liabilities, see Note 16.
The carrying amounts of the group\u2019s borrowings are denominated in the following currencies:
NOK million
2025
2024
USD
3,708
1,043
NOK
2,138
3,710
Total borrowings
5,847
4,753
Aircraft financing
Wider\u00f8e has for certain of its financing agreements financial covenants based on Wider\u00f8e group\u2019s (stand-alone)
consolidated financial statements, all of which have been met throughout the period. The covenants are as
follows:
\u2022 Equity ratio above 20 percent
\u2022 NIBD/EBITDAR below 2.4
\u2022 Market value of pledged aircraft and book value of spare parts, consumables and properties minimum 40
percent higher than total amount in the loan agreement
\u2022 Market value of all aircraft minimum at the same amount as total debt
Aircraft in the group are financed with guarantees by either the parent company and/or by export credit agencies.
Owned aircraft are pledged as collateral. For more information on assets pledged as collateral, see Note 20.", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-393": { "value": "
Note 28\u00a0 Trade and other payables
CashPoint liabilities: Customer loyalty programme \u2013 Norwegian Reward
The group runs a loyalty programme: Norwegian Reward. Reward members earn the digital currency
\u201cCashPoints\u201d. The programme enables members to earn CashPoints as they fly with Norwegian, use the Bank
Norwegian credit card and for making purchases of goods and services from more than 50 Reward partners.
CashPoints are considered as a separate element of a sale with multiple elements. The portion of the price
allocated to CashPoints is based on the stand-alone selling price. Revenue allocated to accrued CashPoints is
deferred and recognised as a contract liability, taking into consideration estimated redemption rates. The
contract liability is included in the line-item Trade and other payables in the consolidated statement of financial
position.
CashPoints can be used as full or partial payment for goods or services offered by the group. The CashPoint
liability is derecognised and recognised as Other revenue when the points expire. Unused CashPoints expire 24
months after the end of the calendar year in which the CashPoints were earned.
Revenue and costs from issuing CashPoints to external partners in the loyalty programme Reward are presented
on a net basis.
Trade payables are obligations to pay for goods or services purchased from suppliers in accordance with general
course of business. Accounts payable are classified as current liabilities if payment is due within the next twelve
months. Payables due after the next twelve months are classified as non-current liabilities. Trade payables are
recognised initially at fair value and subsequently measured at amortised cost using the effective interest
method.
NOK million
2025
2024
Accrued vacation pay
633
564
Accrued airport and transportation taxes
337
250
ETS obligation
1,573
1,214
Accrued expenses
1,002
870
Trade payables
705
683
Payables to related party (Note 30) Spenn
14
3
Public duties
473
482
Current provisions for maintenance (Note 25)
292
130
CashPoint liabilities
354
521
Other current provisions
135
144
Total trade and other payables
5,520
4,860
The current payables and provisions are non-interest bearing and are due within the next twelve months. Accrued
expenses are related to goods and services delivered and not invoiced to the group in 2025 and emission
allowances to be surrendered in 2026.
Change in CashPoint liabilities
NOK million
2025
2024
CashPoint liability 1 January
521
567
CashPoints issued\u00a0
277
457
CashPoints redeemed\u00a0
(273)
(359)
CashPoints expired\u00a0
(170)
(144)
CashPoint liability 31 December
354
521
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-392": { "value": "
Note 28\u00a0 Trade and other payables
CashPoint liabilities: Customer loyalty programme \u2013 Norwegian Reward
The group runs a loyalty programme: Norwegian Reward. Reward members earn the digital currency
\u201cCashPoints\u201d. The programme enables members to earn CashPoints as they fly with Norwegian, use the Bank
Norwegian credit card and for making purchases of goods and services from more than 50 Reward partners.
CashPoints are considered as a separate element of a sale with multiple elements. The portion of the price
allocated to CashPoints is based on the stand-alone selling price. Revenue allocated to accrued CashPoints is
deferred and recognised as a contract liability, taking into consideration estimated redemption rates. The
contract liability is included in the line-item Trade and other payables in the consolidated statement of financial
position.
CashPoints can be used as full or partial payment for goods or services offered by the group. The CashPoint
liability is derecognised and recognised as Other revenue when the points expire. Unused CashPoints expire 24
months after the end of the calendar year in which the CashPoints were earned.
Revenue and costs from issuing CashPoints to external partners in the loyalty programme Reward are presented
on a net basis.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCustomerLoyaltyProgrammesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-394": { "value": "
Note 29\u00a0 Air traffic settlement liabilities
Air traffic settlement liabilities increased from NOK 4,143 million on 31 December 2024 to NOK 4,396 million on 31
December 2025. The increase is related to a higher level of pre-sale volumes towards the end of 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-395": { "value": "
Note 30\u00a0 Related party transactions
See Note 8 for details on Remuneration of the Board of Directors and Executive Management and Note 23 for
Options held directly or indirectly by members of the Board of Directors, the CEO and the Executive
Management.
Together with Strawberry and Reitan Retail, the group operates the common loyalty program Spenn in the Nordic
market. Due to the shared ownership structure, both the group and Spenn Group AS are involved in transactions
that fall under a common ownership, classifying them as related party transactions.
Through the loyalty programme, the Norwegian Group allows customers to earn Spenn, which can be awarded to
those who qualify for Norwegian Reward benefits. Spenn can be earned from flights and hotel stays. Norwegian
Reward members can use Spenn to part-pay for any available Norwegian flights, with no minimum spend
required.
All transactions with Spenn Group AS are carried out on an arm\u2019s length basis. See Note 5 Interests in other
entities for further details on the common ownership structure and joint arrangement with Spenn Group AS.
The following transactions were carried out with Spenn Group AS:
NOK million
2025
2024
Purchase of loyalty services
32
27
Net purchase/redemption of Spenn
146
3
Capital increase
19
25
Year-end balances arising from sales/purchases of goods/services with Spenn Group AS:
NOK million
2025
2024
Year-end balance redemption of Spenn
19
\u2013
Year-end balance Purchase of loyalty services
\u2013
\u2013
The group has a commitment to purchase an annual minimum of NOK 170 million worth of Spenn until 2027.
Outstanding balances to Spenn AS are unsecured and are repayable in cash.
No loans or guarantees have been issued to related parties in 2025 or 2024.
Transactions between group companies have been eliminated in the consolidated financial statements and do
not represent related party transactions. Please refer to Note 24 Related Parties and Note 14 Investment in
Subsidiaries in the financial statements for the parent company for further details.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-397": { "value": "
Note 31\u00a0 Contingent assets and liabilities
A contingent asset is not recognised in the consolidated statement of financial position but disclosed in the notes
where an inflow of economic benefits is probable.
Contingent liabilities are either present obligations for which it is either not probable that an outflow of economic
resources is required to settle the obligation or the amount of the obligation cannot be estimated reliably, or
possible obligations for which it has yet to be confirmed whether the group has a present obligation that could
lead to an outflow of economic resources.
Contingent liabilities are not recognised in the consolidated statement of financial position, but significant
contingent liabilities are disclosed in the notes to the financial statements, with the exception of contingent
liabilities where the probability of the liability occurring is remote. Please refer to Note 27 for information on
contingent liabilities related to the ongoing EU ETS case.", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-396": { "value": "
Note 31\u00a0 Contingent assets and liabilities
A contingent asset is not recognised in the consolidated statement of financial position but disclosed in the notes
where an inflow of economic benefits is probable.
Contingent liabilities are either present obligations for which it is either not probable that an outflow of economic
resources is required to settle the obligation or the amount of the obligation cannot be estimated reliably, or
possible obligations for which it has yet to be confirmed whether the group has a present obligation that could
lead to an outflow of economic resources.
Contingent liabilities are not recognised in the consolidated statement of financial position, but significant
contingent liabilities are disclosed in the notes to the financial statements, with the exception of contingent
liabilities where the probability of the liability occurring is remote. Please refer to Note 27 for information on
contingent liabilities related to the ongoing EU ETS case.", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-398": { "value": "
Note 32\u00a0 Commitments
The group has aircraft purchase commitments at the end of 2025 with an estimated contractual amount,
including estimated cost escalation, of NOK 45,062 million (2024: NOK 30,945 million). The amount of the total
commitments is subject to changes in USD/NOK currency rates, delivery schedules and other adjustments of the
purchase price. Such adjustments include aircraft equipment which can be added or taken out from the order up
until delivery and inflationary adjustments to the extent not mitigated by agreement with the manufacturer.
Therefore, the exact purchase price for each individual aircraft is not known until approximately nine months prior
to delivery.
The group has no aircraft lease agreements for future deliveries at the end of 2025 (2024: NOK 7,018 million).
Capital commitments at 31 December 2025:
NOK million
Purchase commitments
Leases not yet commenced
Total
2026
3,838
\u2013
3,838
2027
8,114
\u2013
8,114
2028
7,862
\u2013
7,862
2029
6,249
\u2013
6,249
2030
11,843
\u2013
11,843
2031 and beyond
7,156
\u2013
7,156
Total
45,062
\u2013
45,062
Capital commitments at 31 December 2024:
NOK million
Purchase commitments
Leases not yet commenced
Total
2025
632
325
956
2026
12,091
599
12,690
2027
11,808
599
12,406
2028
6,415
599
7,014
2029
\u2013
599
599
2030 and beyond
\u2013
4,298
4,298
Total
30,945
7,018
37,963
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-399": { "value": "
33\u00a0 Events after the reporting period
On 12 March 2026, the Court of Appeal ruled to uphold the Ministry\u2019s appeal, finding that Norwegian was obliged
to fulfil its EU ETS obligations for 2020 in full, irrespective of the reconstruction. Please refer to Note 27 for
additional information related to the ongoing EU ETS case.", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:549300IEUH2FEM2Y6B51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }