In the month of August, Norse Atlantic Airways recorded an average load factor
of 86 per cent, marking a steady increase of 1 percentage point (p.p.) compared
to the previous month, and represents the sixth consecutive month of load factor
growth. Norse Atlantic Airways transported 151,420 passengers across 520
flights, operating all scheduled flights without any cancellations, resulting in
100 per cent completion rate since 24 April of this year. 70 per cent of flights
arrived within 15 minutes of the scheduled arrival time. Norse Atlantic Airways
remains dedicated to becoming the leading airline for long-haul, low-cost travel
to exciting destinations, offering passengers more opportunities and flexibility
to explore the world.
"I am very pleased that our load factor has continued to increase month on
month, demand for Norse's affordable fares and excellent service has been strong
throughout the summer. For the fourth consecutive month we have had zero
cancellations which is a testament to our robust operations and dedicated
colleagues from across the airline.
As we head into the winter trading period Norse Atlantic is well placed to act
should oil prices continue to rise as they have done recently. Our ability to
quickly respond and adapt our network as necessary, including careful control of
our cost base, are the hall marks of our low-cost operating model. The global
cargo market has continued to decline as rates and demand have fallen following
the post pandemic surge. Our competitive rates and direct route network offer a
good value proposition for cargo forwarders, however, our forecasts for
transported cargo have been lower than anticipated," said Bjorn Tore Larsen, CEO
and Founder of Norse Atlantic Airways.
Key traffic figures for August are attached.
Contacts:
Investors: CFO, Anders Jomaas, Anders.Jomaas@flynorse.com
Media: SVP Communications, Philip Allport, philip.allport@flynorse.com
Norse Atlantic Airways is an airline that offers affordable fares on long-haul
flights, primarily between Europe and the United States. The company was founded
by CEO and major shareholder Bjørn Tore Larsen in March 2021. Norse has a fleet
of 15 modern, fuel-efficient and more environmentally friendly Boeing 787
Dreamliners that serve destinations including New York, Los Angeles, Fort
Lauderdale, Orlando, Boston, Washington, San Francisco, Boston, Jamaica,
Barbados, Miami, Oslo, London, Berlin, Rome and Paris. The company's first
flight took off from Oslo to New York on June 14, 2022.