Norse Atlantic reports stronger financial and operational figures for 2Q25

On August 19, 2025. Norse Atlantic Airways (‘Norse’) announced its latest figures and results pertaining to the second quarter of 2025 (2Q25) ending June 30, 2025. The figures show that the all-Boeing 787 Dreamliner operator saw a strong increase in revenue and an overall improved financial picture for the quarter over the same period in 2024, driven by a record 97% load factor and 36% passenger growth.

The headline figures for the scheduled carrier that more recently has begun leasing out its aircraft to other carriers under wet-lease, or ACMI (aircraft, crew, maintenance, insurance) agreements, show that there was a 27% increase in passenger revenue in 2Q25, with earnings before interest and tax reaching $4 million. Second-quarter net losses have been trimmed down to $6 million from almost $32 million in the same period in 2024 as part of “a focus on operational efficiencies”. This came as passenger revenue rose to $187 million from $147.3 million in the same period in 2024.

Available revenue seat kilometers (a measure of total capacity) rose by 18% year-on-year, with the carrier ending the quarter with a net loss of $6 million, while cash reserves ended the quarter at $24 million.

Kevin Hackert / ShutterstockSpeaking about the airline’s latest performance figures, CEO, Founder and major shareholder, Bjørn Tore Larsen, said, ” The positive momentum from the start of the year has continued into the summer with record load factor and strong passenger growth, yielding a 27% increase in passenger revenue and our first-ever second-quarter operating profit. The progress reflects the successful execution of Norse Atlantic Airways’ commercial strategy implemented in 2024 and its focus on operational efficiencies.”

“We consistently deliver a world-leading load factor of 97% in the second quarter, up 15 percentage points from last year, and 96% for the first half. This shows the impact of our data-driven commercial model in an industry where a load factor above 90% is a strong result. While we continue to reduce unit costs year-over-year, there was a slight decline in average passenger revenue in the quarter, which is mainly related to airfare bundle adjustments.”

“Our fleet of 12 modern, efficient Boeing 787-9 Dreamliners forms a strong base for further improvements as Norse Atlantic transitions to the dual leg model with ACMI charters, reducing our market risk and complementing our own scheduled network. In the second quarter, we operated 11 aircraft in our own network and one on a long-term ACMI with Indigo. In the coming months, five additional aircraft will be transferred to Indigo, India’s leading and one of the world’s largest airlines, for ACMI operations, subject to regulatory approvals.”

IndiGo Looking ahead to 2026

Looking ahead into 2026 and beyond, Larson added that the airline will continue to focus on pricing scheduled services from the UK and Scandinavia to North America, South Africa and the Far East, buit will also be capitalizing on its successful ACMI strategy, and in particular building on its burgeoning relationship with Indigo Airlines serving European destinations from Mumbai and Delhi.

“From early 2026, the fleet in our own scheduled network will comprise six aircraft. This will strengthen our strategic and financial position with predictable ACMI revenue and cash flow in a volatile market while optimizing our network, flying routes with maximum passenger and fare potential. Going into the 2025 summer season, there has been some softness in the Transatlantic market. At the same time, we see strong demand for our Asia and Africa fall/winter program.”

Storm AviationIn addition to these types of flights, the carrier has also just announced that it has renewed a contract with international cruise line P&O Cruises to fly passengers to ships in the Caribbean over the next two winters.

“Momentum into the third-quarter high season is good with bookings to date confirming the positive trend in load factor and passenger revenues. We are pleased to have renewed the charter agreement with P&O Cruises for the next two winter seasons, flying cruise passengers from the UK to the Caribbean in the November to March period. To round off, since the start of operations, Norse has carried 3.6 million passengers as of end-June 2025, delivering affordable, value-for-money air travel to customers worldwide since our inaugural flight three years ago.”

RELATED

IndiGo adds London-Heathrow to growing list of long-haul European destinations 

The post Norse Atlantic reports stronger financial and operational figures for 2Q25 appeared first on AeroTime.

Go to Source