The Norwegian Norse Atlantic Airways was able to achieve a load factor of 2022 percent in October 60. At the end of last month, the route network was reduced, which according to the airline should have a positive effect on capacity utilization and earnings during the season. 60.836 passengers were carried, three percent fewer than in the same month last year.
Freight revenue continues to be a key source of revenue for Norse and average freight revenue per operated flight increased 12 percent compared to September and 60 percent compared to August, while total net freight revenue was flat month-on-month and compared to up 82 percent in August.
“The rapid and determined downsizing of our route network in line with demand and the focus on core routes for the winter season puts Norse Atlantic in a much stronger position for the coming months. We are very pleased that some core routes of our current route network are now operating at 85% capacity and advance bookings continue to show a positive trend,” said Bjorn Tore Larsen, CEO of Norse Atlantic Airways.
The offshoot Norse Atlantic UK is to receive the necessary approval for the planned USA flights shortly. The group of companies intends to publish the first part of the 2023 summer timetable later this week. Additional destinations will be announced in December and in the new year to expand the airline's route network for summer 2023.
Norse Atlantic Airways signed an agreement in October to sub-lease a fifth aircraft, a Boeing 787-8, for a total lease term of 18 months. The agreement increases overall profit over the sublease period and adds to the previously announced four aircraft that have been subleased. During the month, the airline also received its sixth and final Boeing 787-9 from lessor BOC Aviation Limited, completing the company's delivery schedule.