OSLO, NORWAY — Norway's long-haul startup carrier Norse Atlantic Airways subleased four of its Dreamliners - two Boeing 787-8 and two Boeing 787-9 - to the Spanish leisure airline Air Europa for a period of 18 months.
The Dreamliners will be handed over to Air Europa in the second quarter of 2022. The sublease agreement is subject to completion of documentation, expected to occur around the end of April.
"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,”
said Norse CEO Bjørn Tore Larsen.
Norse will begin ticket sales later this month and will conduct its first revenue flight in June. Norse will initially serve on routes from Oslo to Paris, London, New York, Los Angeles, and Florida. The complete route network will be revealed when ticket sales commence.
“We strongly believe that the demand for transatlantic travel will eventually bounce back with full force because people will want to explore new destinations, visit friends and family, and travel for business. Norse will be there to offer attractive and affordable flights on our more environmentally friendly and fuel-efficient Boeing 787 Dreamliners to both leisure and cost-conscious business travelers,”Larsen said.
