Norse Atlantic Airways has agreed to extend the term for four subleased Boeing 787 aircraft. Three Boeing 787 – 8 Dreamliners have been extended by up to one year from the original return date and will now be redelivered to Norse between the end of March and the end of May 2025. Additionally, one Boeing 787 – 9 Dreamliner will be extended by two months before returning to Norse Atlantic Airways in early May 2024, ahead of it entering Norse’s peak summer flying program. The agreement will increase total cash profit during the extended sublease periods.
Norse has a total of 15 Boeing 787 Dreamliners. All 15 aircraft are on long-term flexible lease terms agreed during 2021 when lease rates were at historical low prices. The low lease pricing is fixed for the full duration of the leases, with no inflationary adjustments.
“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. 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,” said Bjørn Tore Larsen, CEO and Founder Norse Atlantic Airways.