An emerging carrier in Norway is set to cash in on Norwegian Air’s exit from its famed long-haul budget transatlantic routes.
The new airline, Norse Atlantic Airways, has been launched by Scandinavian aviation industry veterans, with founder and former CEO of Norwegian Air Bjorn Kjos holding a 15 per cent stake in the new carrier, and co-founder of OSM Aviation Bjorn Tore Larsen a majority stakeholder – and also CEO.
The aviation veterans announced the launch of Norse Atlantic in a press statement this week.
It was announced in January that Norway’s flag-carrier Norwegian Air would exit out of its long-haul budget routes that connected Europe and the US, and axe all 37 of its Boeing 787 Dreamliners, as the company continued to navigate out of insolvency.
Norwegian filed for bankruptcy protection in both Norway and Ireland late last year, and has announced it will drastically scale back its operations and fleet in order to survive.
Now, newly launched Norse Atlantic will fill the Norwegian-sized gap in the market, and plans to lease 12 ex-Norwegian Dreamliners to fly from major US hubs, such as New York, Los Angeles and Miami, to European hotspots, including London, Paris and Oslo.
The company has said it may even extend its network to the east, with routes to and from Asia in the future, should demand and profitability allow for such an expansion.
Services are expected to begin as soon as late 2021, according to the airline.
The carrier also hopes to list its shares on Oslo’s Euronext Growth stock market as soon as next month.
“We have industry knowledge and have secured modern Dreamliners at very good terms,” Norse Atlantic chief executive Larsen said.
The company has already secured nine ex-Norwegian 787s, and is continuing lease term negotiations on a further three.
