Norse Atlantic Extends Subleased Boeing 787 Aircraft Term

Norwegian low-cost carrier, Norse Atlantic, announced on Monday that it has reached an agreement to extend the term for four of its subleased Boeing 787 aircraft. Three Dreamliners will have their term extended by up to one year, with re-delivery to Norse Atlantic scheduled between the end of March and the end of May 2025. Additionally, one Dreamliner lease will be extended by two months and returned to Norse Atlantic in early May 2024.

All 15 Boeing 787 Dreamliners in Norse Atlantic's fleet are on long-term flexible lease terms that were agreed upon in 2021, when lease rates were at historically low prices.

Norse Atlantic Founder and Chief Executive, Bjorn Tore Larsen, expressed enthusiasm about the extension: "This extension to the sublease agreements for four of our Dreamliner aircraft provides a further opportunity to increase secured total cash profit during the lease period."

Larsen also outlined the company's growth strategy: "Our strategy is to grow at a steady pace in line with market demand. We intend to operate 12 Boeing 787 Dreamliner aircraft during our summer 2024 season and we look forward to building up to a fully operational fleet of 15 aircraft in 2025."

By Dominic Chopping