Norse January operational update – Good performance from New Year promotional sales and on track to deliver a strong summer 2023 programme

Monday, Feb 13, 2023 0

Norse continues to make good progress on its business plan to have its UK airline, Norse Atlantic UK, become a significant part of its operations, with the launch of ticket sales to two new destinations expected this week. The company is ramping up towards the summer 2023 season including having over half of its operational fleet based at London Gatwick. Forward bookings have been good, helped by a successful marketing campaign towards the end of December and through January.

During January, Norse Atlantic Airways recorded an aggregate load factor for the month of 52 per cent, including charter operations. Norse Atlantic Airways operated a total 229 flights. 74 per cent of operated flights arrived within 15 minutes of the scheduled arrival time. The company operated 98 per cent of scheduled flights, four cancellations occurred due to general strike action by the Ver.di union at Berlin airport involving airport staff in ground services and aviation security, the strikes were not connected to the airline or its employees. Norse Atlantic carried 35,150 passengers in January.

Building on the growing reputation of Norse Atlantic Airways as a dependable and reliable charter and ACMI operator, Norse completed 15 charter flights during the month of January.

During the month Norse Atlantic Airways announced the launch of ticket sales between Rome Fiumicino (FCO) and New York JFK. The new route will become the fifth European destination served by Norse from JFK, the daily service will begin operations on 19th June 2023.

Further, the company is pleased to announce that this week two new US destinations served from London Gatwick will be launched for sale, with operations commencing during the summer 2023 programme. These flights will be operated by the company’s UK airline (AOC), Norse Atlantic UK. The beginning of operations of Norse Atlantic UK marks a milestone for the company and follows extensive support on both sides of the Atlantic from the Association of Flight Attendants, Cockpit Association of Norway, British Airline Pilots Association and Unite unions, airports, business leaders, government leaders and many others. Further destinations from London Gatwick to the US for the summer 2023 schedule will be revealed by the end of February and will lead to a substantial increase of the airline’s presence in the UK.

To date Norse Atlantic Airways is performing on track or above the business plan communicated during the Private Placement in November 2022. As previously communicated, the company will carry out a repair offering to those shareholders eligible as at 24 November 2022. The repair offering is expected to be done during the spring once the required prospectus is approved by the Norwegian Financial Services Authority.

Key traffic figures for January are attached.

“Two targeted sales campaigns in January generated encouraging forward bookings and show that demand for travel across the Atlantic remains strong. We expect a strong summer season across our network and especially in the UK as the investment that we have made in that market reaches its full potential.

The recent announcement that Charles Duncan has joined Norse Atlantic as President represents an important strengthening of our commercial strategy going forward, I look forward to working closely with Charles as we fulfil our target of reaching profitability by year end,” said Bjorn Tore Larsen, CEO Norse Atlantic Airways.