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Norse Atlantic Airways has reported significant financial growth, driven by a new business model that combines scheduled flights with wet lease operations. The Norway-based airline has confirmed plans to wet lease up to six Boeing 787-9 aircraft to IndiGo, an Indian low-cost carrier eager to expand into long-haul flights. One aircraft, registered as LN-FNC, is already operational under this agreement.
The airline's Q1 results for 2025 indicate positive trends. Bjørn Tore Larsen, the Founder and CEO of Norse Atlantic, noted a strong start to the year with an average load factor reaching 95%, which he described as "world-leading." The company has improved its key performance metrics through a strategy mixing scheduled services with Aircraft, Crew, Maintenance, and Insurance (ACMI) operations. This approach reduced Q1 losses from $62.8 million in the previous year to $14.9 million.
"Our progress and aim to deliver full-year 2025 profitability are supported by the commercial strategy delivering increased load factor, the transition to a dual-leg ACMI and own network model, and ongoing cost and efficiency initiatives," Larsen stated.
