Quantcast

Norse Atlantic faces financial struggles despite increased passenger numbers

Qantas launches mammoth Asia flight sale including Bali and Japan
New Update from Air Canada, WestJet, American Airlines, Delta, United, Southwest, Alaska, JetBlue Airways, and Sunwing: Airline Capacity Between Canada and US Slashed as Bookings Plummet Seventy Per Cent
Delta Cuts Two Domestic Routes
United Airlines Technicians Reject ‘Dead on Arrival’ Contract Proposal, Teamsters Say
The State of the Asia Pacific Airline Industry
Spirit Airlines to add Detroit nonstop flight out of Bradley International Airport
Major airline to launch new direct flights from Scotland to North America
Ryanair launches new ‘prime’ membership which saves passengers more than £400 a year
Judge Orders Boeing to Trial on 737 MAX Case
Qantas’ free international Wi-Fi to switch on from next week
The real reason Southwest is charging for bags now
Air France-KLM in ongoing talks with Air Europa on potential stake, CEO says
Frontier Savagely Shades Southwest After They Eliminated Longstanding Free Bag Policy, Sparking Backlash
Frontier Wants You to 'Divorce Your Old Airline' After Southwest Changes
Delta named one of Fast Company's Most Innovative Companies for sustainability initiatives
Passengers escape fiery American Airlines jet in Denver
Delta, American Dive On Slashed Outlooks; But Two Airlines Rally
Competitors are circling Southwest after the airline announced it's going to start charging for checked bags
Exclusive: Dominican Low-Cost Carrier Arajet Wants to Disrupt NYC Market
Boeing deliveries rise 63% in February from a year earlier
Transportation Secretary Duffy Lays Out 10 Ways the FAA Is Working to Upgrade Air Traffic Control and Make Flying Safer
EasyJet pilot Paul Elsworth suspended after flying too close to mountain
Delta Air Lines bets on ‘blended-wing’ flight to reduce emissions
Europe's airlines pivot to bite size M&A deals to limit cost, regulatory burden
Dave Emerson named new CEO of Virgin Australia, replacing Jayne Hrdlicka
Ryanair DELAYS controversial new boarding pass rule to avoid summer chaos
FAA Orders Inspection, Replacement of 737NG Engine Parts
Spirit Adds New Airport, Three Routes
Delta crash passengers should take the $30,000 payment, their lawyers say. Here’s why.
Budget airline launches new cheap flights to one of the UK’s top winter sun destinations
Norse Atlantic faces financial struggles despite increased passenger numbers
Policy
Webp 5r3vc2svdh8ibaxk8gr8iutw0za2
Simple Flying | Simple Flying

Norse Atlantic Airways faced significant financial challenges during the third quarter of 2024, a period typically favorable for airlines. The company reported a net loss of $6.3 million, a stark contrast to the $1.6 million profit achieved in the same quarter of 2023. Despite operating at peak summer capacity, Norse Atlantic's performance was hindered by increased expenses and reduced unit revenue.

The airline operated with 12 aircraft for scheduled flights while subleasing three to other carriers. Although total revenue improved by 8.3% to $222 million, expenses rose by more than double that rate, increasing by 19.3%. Passenger fares and ancillary revenues accounted for 93.3% of total income, with additional earnings from aircraft crew maintenance and insurance (ACMI) services rising significantly from $282,000 in Q3 2023 to $2.8 million.

However, ACMI revenues remained a small fraction of overall income at just 1.3%. Norse Atlantic has confirmed a wet lease agreement involving six aircraft—40% of its fleet—with an undisclosed carrier as part of its strategy to enhance off-peak season revenue.

Get the Newsletter
Sign-up to receive weekly round up of news from Sky Industry News
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

While the cost per seat kilometer decreased due to extended operations and longer stage lengths, reaching 5.08 US cents—a reduction of 6.6% year-over-year—the revenue per seat kilometer fell even further by 7.5%, dropping to 4.92 US cents when considering only passenger-related income.

Passenger numbers increased significantly; Norse transported 514,913 passengers during this period—an increase of over 80,000 compared to Q3 2023—and saw its seat load factor rise from 83% to 86%. However, these gains were driven largely by lower fares which dropped from $349 to $322 excluding ancillaries or from $438 to $406 including them.

Despite these challenges and financial losses during what should be a profitable season for airlines, Norse Atlantic remains focused on strategic reorientation efforts aimed at improving future performance.

Organizations Included in this History
More News

With the commencement of the 2025 summer flight schedule, ITA Airways has seamlessly integrated into the Lufthansa Group terminals in Frankfurt and Munich.

Mar 30, 2025

Air China is set to resume its Toronto flights after a 33-year hiatus.

Mar 29, 2025

United Airlines has confirmed that a Boeing 767-300ER, which departed from London on March 26, returned to London Heathrow after experiencing mechanical problems.

Mar 29, 2025

American Airlines has introduced new routes to Punta Cana, the Dominican Republic, following its "March Map-Ness" contest.

Mar 29, 2025

A Delta Air Lines Airbus A321neo is back in operation after being grounded due to smoke detected in its cabin.

Mar 29, 2025

The Southern Museum of Flight in Birmingham, Alabama, presents an extensive collection of over 120 aircraft, showcasing a range of experimental, military, and general aviation aircraft.

Mar 29, 2025