Norse Atlantic Airways to Operate Ten Long-Haul Aircraft Starting this Summer

Ten long-haul aircraft will be operated by Norse Atlantic Airways starting in the summer.

Before the end of the year, the Norwegian low-cost start-up announced that it has agreed to lease out a fifth Boeing 787 Dreamliner for 18 months.

The driver remarked: “The agreement will increase total cash profit during the sublease period and is in addition to the previously announced four aircraft that have been subleased.” 

A fleet of 15 Dreamliners has been delivered to Norse, and it anticipates getting the final two by the end of 2022.

All 15 aircraft are leased on flexible long-term contracts that were established last year when lease rates were at historically low costs.

According to the carrier, the cheap lease rate is set for the whole term of the leases with no inflationary increases.

“For the first 12 months after delivery of each respective aircraft, Norse only pays for the aircraft on a power by the hour basis,” Norse said.

Chief executive Bjorn Tore Larsen added: “This additional sublease agreement provides a further opportunity to increase total cash profit during the lease period. 

“We intend to operate ten Boeing 787 Dreamliner aircraft during our summer 2023 season, which will mark a substantial increase compared to our launch phase in 2022.”

After the airline received US authorisation to operate direct transatlantic services from Gatwick beginning next summer after a preliminary start-up phase this year, a sublease agreement was reached.