Norse Atlantic Airways Subleases Fifth Boeing 787-8 Dreamliner
Norse Atlantic Airways has agreed to terms for the sublease of a fifth Boeing 787-8 Dreamliner for a period of 18 months. The agreement will increase the carrier’s total cash profit during the period, and is in addition to four previously subleased aircraft.
On Tuesday (October 18, 2022), Norse Atlantic Airways announced that they have agreed to terms for the sublease of a fifth Boeing 787-8 Dreamliner for a period of 18 months. The agreement will increase Norse’s cash profit during the period, and is in addition to four previously subleased aircraft. The aircraft is expected to be delivered to the sub-lessee by the end of 2022. Norse has now taken delivery of 13 out of 15 total Boeing 787s, and all 15 of the aircraft are on long-term flexible leases agreed to in 2021 at historically low rates. For the first 12 months after delivery of each aircraft, Norse only pays for the aircraft on a ‘power-by-the-hour’ basis. The carrier expects to take delivery of their remaining two Boeing 787 Dreamliners by the end of the year.
In Tuesday’s announcement, Norse Atlantic Airways’ CEO, Bjørn Tore Larsen, said,
“This additional sublease agreement provides a further opportunity to increase total cash profit during the lease period. We intend to operate 10 Boeing 787 Dreamliner aircraft during our summer 2023 season, which will mark a substantial increase compared to our launch phase in 2022.”
Founded in March 2021 by major shareholder and CEO Bjørn Tore Larsen, Norse Atlantic Airways offers affordable transatlantic and European flights. The company’s head office is located in Arendal, Norway, and Norse has a second office in London. Norse has a fleet of 15 modern, fuel-efficient Boeing 787 Dreamliners. The carrier serves or will serve destinations including New York, Los Angeles, Fort Lauderdale, Orlando, Paris, London and Berlin. The airline’s first flight between Oslo and the U.S. departed on June 14, 2022.
Source: Norse Atlantic Airways / Cision