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Norse Atlantic Airways to Sublease Four Boeing 787 Dreamliners to Air Europa

Norse Atlantic Airways will sublease two Boeing 787-8s and two 787-9s to Air Europa for a period of 18 months to generate positive cash flow for the carrier, as they would not be fully utilized during Norse’s start-up phase.

Norse Atlantic Airways to Sublease Four Boeing 787 Dreamliners to Air Europa - Courtesy Norse Atlantic Airways/Cision

On Tuesday (April 12, 2022), Norse Atlantic Airways announced that they will lease four Boeing 787 Dreamliners, including two 787-8s and two 787-9s, to Spanish carrier Air Europa for a period of 18 months. The aircraft will be delivered to Air Europa during the second quarter of 2022, subject to the closing of the transaction which is expected to occur around the end of April. Norse will publish their route network when ticket sales launch later this month and their inaugural flight is scheduled to take place in June. The carrier plans on offering service to Oslo, Paris, London, New York, Los Angeles and Florida.

In today’s announcment, Norse Atlantic Airways’ CEO, Bjørn Tore Larsen, said,

“This sublease agreement with Air Europa provides a compelling opportunity to generate positive cash flow from aircraft that we were not planning to fully utilize in our start-up phase. The agreement strengthens our already solid financial position as we continue to stay true to our strategy of cautiously entering the market and ramping up based on customer demand.

“We strongly believe that the demand for transatlantic travel will eventually bounce-back with full force because people will want to explore new destinations, visit friends and family and travel for business. Norse will be there to offer attractive and affordable flights on our more environmentally friendly and fuel-efficient Boeing 787 Dreamliners to both leisure and cost-conscious business travelers.”

Founded in March 2021 by CEO and Major Shareholder Bjørn Tore Larsen, Norse Atlantic Airways plans on offering affordable transatlantic and European flights. The company’s head office is located in Arendal, Norway, and Norse has a second office in London. Once all 15 Boeing 787 Dreamliners are delivered, the company expects to employ a dedicated group of 1,600 team members, both on the ground and in the air. Norse Atlantic will operate long-haul routes between Europe and the U.S., as well as flights within Europe including service to New York, Florida, Paris, London and Oslo, among others.

Source: Norse Atlantic Airways/Cision


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