Norse Atlantic Airways has decided that it will not fly its full Boeing 787 Dreamliner until 2025 after opting to extend subleases on four aircraft.
Norse, a Norwegian low-cost, long-haul airline, announced on February 12, 2024, that it will extend the subleases on four of its 15 787 Dreamliners.
Three Boeing 787-8s 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.
While one Boeing 787-9 will be extended by just two months, therefore returning to Norse in early May 2024, ahead of it entering the peak summer flying program.
All 15 of Norse’s Dreamliners are on long-term flexible lease terms agreed during 2021 when lease rates were at historical low prices.
Norse took the opportunity to “increase secured total cash profit” by extending the subleases which the airline has on a fixed price, 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,” Bjørn Tore Larsen, CEO and Founder Norse Atlantic Airways, said.
He added: “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.”