Norse Atlantic Airways Reports Positive Future Booking Trend on Core Winter Routes

After removing excess capacity on certain U.S. routes in September and and deciding to make Los Angeles routes seasonal, Norse Atlantic Airways is reporting a positive future booking trend on core winter routes.

Norse Atlantic AIrways Boeing 787-9 Dreamliner - Courtesy Norse Atlantic Airways/Cision

On Monday (October 10, 2022), Norse Atlantic Airways announced that they are seeing positive future booking trends on core routes for winter 2022/23. In September the carrier removed excess capacity on certain U.S. and made the decision to operate Los Angeles routes on a seasonal basis. Norse Atlantic enjoys the flexibility of operating their aircraft on ‘Power by the Hour’ lease agreements, meaning the company only pays for an aircraft while it is operating. Currently, Norse has taken delivery of 13 of 15 aircraft, four of which have been subleased, guaranteeing a fixed profit for those aircraft over the term of the agreements. The carrier is also in negotiations to sublease a fifth aircraft for 18 months.

In Monday’s announcement, Norse Atlantic Airways’ CEO, Bjørn Tore Larsen, said,

“We have taken swift action to adjust our winter schedule and remove excess capacity from our network in light of lower expected demand, high fuel prices and rising global inflation. The flexibility provided by our power by the hour aircraft lease agreements has allowed Norse Atlantic to lower cash burn over the winter period in anticipation of ramping up operations for a strong summer 2023 season. We are pleased that bookings for our remaining core winter routes remain strong and that ticket sales have been increasing as we expand our distribution network.”

Norse Atlantic will release their core summer 2023 schedule in early November, with flights available for booking through October 2023. Next summer, the carrier plans to have 10 aircraft in operation during the peak season, with a greater presence out of London Gatwick. Norse has also recently introduced additional distribution channels including Skyscanner, Finn.no, Travelfusion, and, most recently, Google flights. Additional distribution has resulted in in an immediate positive increase in forward bookings. The airline expects traffic between the U.S. and Europe to remain strong with the net effect of the strong U.S. dollar against the Euro and British Pound.

Source: Norse Atlantic Airways/Cision