Norwegian low-cost carrier Norse Atlantic Airways announced that it has signed an agreement with Air Europa for the sublease of two Boeing 787-8s and two 787-9s. The contract, which will generate a positive economic balance for Norse Atlantic, has an expected duration of 18 months.
According to the company, which has not yet inaugurated its commercial flights, it is an opportunity to generate revenue from aircraft it does not expect to fully utilize in its first phase of operations. If everything goes according to plan, the first aircraft will be delivered to Air Europa in the second quarter of this year. Documentation checks still have to be completed and are scheduled for the end of April.
Norse Atlantic’s fleet will consist entirely of Boeing 787 Dreamliner aircraft. It has already taken delivery of five units and will continue to receive aircraft gradually over the upcoming months. The company expects to start commercial operations gradually and add capacity according to demand.
CEO Bjørn Tore Larsen said: «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.»
Norse Atlantic will begin ticket sales later this month and will operate its inaugural flight in June. It will offer services from Oslo-Gardermoen (OSL) and London-Gatwick (LGW), where it has secured slots that will give it access to a key market.
The company announced that its initial network of destinations will also include Paris, New York, Los Angeles and Fort Lauderdale, where it will also have its US office base.
