86% Load Factor and Continued Strong Summer Demand: Robust Operational Performance and Fourth Consecutive Month of Zero Cancellations
In the month of August, Norse Atlantic Airways recorded an average load factor of 86 per cent, marking a steady increase of 1 percentage point (p.p.) compared to the previous month, and represents the sixth consecutive month of load factor growth. Norse Atlantic Airways transported 151,420 passengers across 520 flights, operating all scheduled flights without any cancellations, resulting in 100 per cent completion rate since 24 April of this year. 70 per cent of flights arrived within 15 minutes of the scheduled arrival time. Norse Atlantic Airways remains dedicated to becoming the leading airline for long-haul, low-cost travel to exciting destinations, offering passengers more opportunities and flexibility to explore the world.
“I am very pleased that our load factor has continued to increase month on month, demand for Norse’s affordable fares and excellent service has been strong throughout the summer. For the fourth consecutive month we have had zero cancellations which is a testament to our robust operations and dedicated colleagues from across the airline.
As we head into the winter trading period Norse Atlantic is well placed to act should oil prices continue to rise as they have done recently. Our ability to quickly respond and adapt our network as necessary, including careful control of our cost base, are the hall marks of our low-cost operating model. The global cargo market has continued to decline as rates and demand have fallen following the post pandemic surge. Our competitive rates and direct route network offer a good value proposition for cargo forwarders, however, our forecasts for transported cargo have been lower than anticipated,” said Bjorn Tore Larsen, CEO and Founder of Norse Atlantic Airways.
Key traffic figures for August are attached.
Contacts:
Investors: CFO, Anders Jomaas, Anders.Jomaas@flynorse.com
Media: SVP Communications, Philip Allport, philip.allport@flynorse.com
Norse Atlantic Airways is an airline that offers affordable fares on long-haul flights, primarily between Europe and the United States. The company was founded by CEO and major shareholder Bjørn Tore Larsen in March 2021. Norse has a fleet of 15 modern, fuel-efficient and more environmentally friendly Boeing 787 Dreamliners that serve destinations including New York, Los Angeles, Fort Lauderdale, Orlando, Boston, Washington, San Francisco, Boston, Jamaica, Barbados, Miami, Oslo, London, Berlin, Rome and Paris. The company's first flight took off from Oslo to New York on June 14, 2022.