newstodate.aero

Apr 12, 2022 (newstodate): The new Norwegian long-haul carrier Norse Atlantic Airways is building up a fleet of 15 Boeing 787 aircraft before its launch of services this summer.
   But citing the current market situation, heavily impacted by war in Ukraine diving fuel prices up and increasing general uncertainties, the carrier has repeatedly been postponing launch of services, now slated for a lift-off in June 2022.
   Facing the excessive capacity, Norse is now thrown a lifeline by signing an 18-months agreement with Spanish airline Air Europa for the sublease of four aircraft, two Boeing 787-8 and two Boeing 787-9, constituting an unexpected revenue stream for Norse.
   The sublease is subject to completion of documentation, expected by the end of April, and the aircraft will be delivered to Air Europe in Q2, 2022.
   On the tarmac at Oslo Airport are now nine Boeing 787 aircraft leased from BOC Aviation and formerly operated by Norwegian, with the remaining six to be delivered consecutively in the coming months.  
   -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, says Bjorn Tore Larsen, Norse CEO.
   Norse Atlantic Airways plans to be operating  transatlantic flights on routes from Fort Lauderdale-Hollywood International Airport to Oslo, Paris, and London.
   In the plans are also flights from Oslo Airport to Ontario near Los Angeles, and to Newburgh near New York - both secondary airports serving major destinations at competitive airport charges.