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Norse Atlantic Airways

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This is an old revision of this page, as edited by 1.209.1.158 (talk) at 01:39, 30 December 2021 (Norse Atlantic adds first 787-9). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Not to be confused with Northern Pacific Airways.

Norse Atlantic Airways
IATA ICAO Call sign
- NBT[1][2] LONGSHIP[1][2]
FoundedFebruary 2021
HubsOslo Airport
Traded asOSE: NORSE
HeadquartersArendal, Norway
Key peopleBjørn Tore Larsen (CEO)
Websiteflynorse.com

Norse Atlantic ASA (OSE: NORSE), trading as Norse Atlantic Airways, is a planned low-cost, long-haul airline based in Norway. Founded in February 2021, the airline plans to begin operations between Europe and North America during 2022, with a fleet of Boeing 787 Dreamliner aircraft.

History

Norse Atlantic Airways was founded in February 2021[3] by Bjørn Tore Larsen, with Bjorn Kise and Bjørn Kjos holding minority stakes.[4][5] The airline was announced on 15 March 2021, alongside its plans to begin selling tickets in the fall of 2021 for the start of scheduled commercial flights in December 2021. The airline's plans also included intentions to operate twelve Boeing 787 Dreamliner aircraft previously operated by Norwegian Air Shuttle and its associated subsidiaries, establishing partnerships with other Norway-based airlines, including Norwegian Air Shuttle and startup airline Flyr,[5] as well as floating the company onto the Oslo Stock Exchange.[6] To launch the company, its shareholders completed a private placement of 1.275 billion Norwegian crowns ($150 million US dollars) on 26 March 2021.[7] On 29 March 2021, AerCap announced the signing of a lease agreement with Norse Atlantic for the airline's first nine Boeing 787s, consisting of three 787-8s and six 787-9s.[8] Following Norse Atlantic's debut on the Oslo stock market on 12 April 2021, the company raised upwards of 1.4 billion Norwegian crowns ($165 million US dollars) in its initial public offering (IPO).[9][10]

During August 2021, Norse Atlantic Airways announced that it had secured leasing rights for a further six Boeing 787-9s from BOC Aviation, increasing its planned fleet from twelve to fifteen aircraft, with deliveries beginning in 2021 and the deliveries to be completed during 2022.[11][12] On 10 August 2021, the airline additionally revealed its updated corporate image and aircraft livery.[13] Subsequently, Norse Atlantic's planned launch of operations was postponed from December 2021 to the summer of 2022, with the company citing travel restrictions related to the COVID-19 pandemic, and the start of ticket sales planned to take place approximately three months prior to launch.[13][14] The airline also announced that it had applied for an air operator's certificate (AOC) in Norway, and that it planned to apply for an additional AOC in the United Kingdom.[15][16]

Corporate affairs

Norse Atlantic Airways is headquartered in Arendal, Norway. At its establishment during early 2021, the airline was 63% owned by CEO Bjørn Tore Larsen and affiliates, 15% owned by Bjørn Kjos, and 12% by Bjørn Kise.[5] Following the company's listing on the Oslo Stock Exchange, Bjørn Tore Larsen remained the majority shareholder with a 12.3% stake, followed by institutional investors such as DNB SMB (6.7%), Delphi Nordic (6.6%) and Skagen Vekst (5.8%) by October 2021.[17]

Destinations

In March 2021, Norse Atlantic Airways had announced London, Oslo, and Paris in Europe, alongside Los Angeles, Miami, and New York City in the United States among its planned initial destination cities,[4] and had additionally expressed interest in later serving destinations in Asia.[18] By August 2021, the airline still had not publicly specified any airports it would serve,[13] but was later reported by the end of the month to have entered agreements with London's Gatwick Airport.[19]

In September 2021, the airline within its application to the United States Department of Transportation for a foreign air carrier permit outlined the operation of flights from Oslo to Fort Lauderdale, Newburgh, and Ontario airports, serving the Miami, New York City, and Los Angeles areas respectively.[20]

Fleet

As of August 2021, Norse Atlantic Airways plans to operate the following aircraft:[21][2]

Norse Atlantic Airways fleet
Aircraft In
service 		Orders Passengers Notes
C Y Total
Boeing 787-8 — 3 32[11] 259[11] 291 Deliveries from December 2021.[12]
Boeing 787-9 1<re>"Norse Atlantic Airways takes first B787-9". Ch-Aviation. 29 December 2021.</ref> 11 35[11] 309[11] 344
Total 1 14

Livery and branding

Norse Atlantic's corporate logo is directly inspired by the Oseberg Ship, with the airline's associated livery and branding inspired by the longships used by the vikings to cross the North Atlantic.[13] Its aircraft are named after various national parks located in countries served by the airline.[14]

Criticism

Following Norse Atlantic's public reveal in March 2021, observers and media outlets drew comparisons to the similarity of its business model to Norwegian Air Shuttle and its long-haul operations.[18] A factor included the presence of key executives with connections to Norwegian among Norse Atlantic's founders and investors, with Kjos serving as Norwegian's former CEO, Kise formerly serving as Norwegian's chairman, and Larsen the chairman of OSM Aviation, a company responsible for providing staff for many of Norwegian's flight operations prior to Norwegian's restructuring.[22] Other aspects of Norse Atlantic's proposed operations additionally coincided, including its choice of destinations, and the specific Boeing 787 airframes it leased being previously operated by Norwegian, with the planes to retain the same seating configuration when operated by Norse Atlantic.[11][23]

Additional parallels to Norwegian's past actions were drawn when on 24 March 2021, United States congressman Peter DeFazio urged in a statement that a foreign air carrier permit be denied to Norse Atlantic, on the basis of detrimental effects caused by the 2016 issuing of a foreign air carrier permit to Norwegian Air International, claiming the company had circumvented Norway's labor protections through Irish incorporation. In response to the allegations, Norse Atlantic CEO Bjørn Tore Larsen stated that the airline is an independent Norwegian company and had planned to have permanent employees based in the United States.[24] During May 2021, the airline reached agreements with unions representing flight attendants including those based in the United States, prior to their employment.[25][26] The British Airline Pilots Association also announced a partnership with the airline in September 2021.[27]

References

  1. ^ a b "Norse Atlantic Airways Airline Code Full Details". Aviation Codes Central. Retrieved 12 December 2021.
  2. ^ a b c "Norse Atlantic Airways fleet details". Airfleets aviation. Retrieved 12 December 2021.
  3. ^ "Norse Atlantic lists on Euronext Growth" (Press release). Euronext. 12 April 2021. Retrieved 21 April 2021. Established in February 2021, Norse Atlantic expects to be taking off with its first flight in December 2021.
  4. ^ a b "Norway has a new low-cost airline aiming to crack transatlantic market". Reuters. 15 March 2021. Retrieved 12 August 2021.
  5. ^ a b c "Norse Atlantic Airways, Norway's newest long-haul airline". AVIATOR. 15 March 2021. Retrieved 15 March 2021.
  6. ^ "Norway's Norse Atlantic Airways targets low-cost long-haul". ch-aviation. 16 March 2021. Retrieved 30 March 2021.
  7. ^ Philip, Siddarth Vikram (24 March 2021). "New Nordic Airline Begins $150 Million Placing in Bet on Rebound". Bloomberg News. Retrieved 12 August 2021.
  8. ^ "AerCap Signs Lease Agreements with Norse Atlantic Airways for 9 Boeing 787 Aircraft" (Press release). AerCap. 29 March 2021. Retrieved 30 March 2021.
  9. ^ Solsvik, Terje (12 April 2021). "UPDATE 1-Budget airline Norse Atlantic up 5% in Oslo stock market debut". Reuters. Retrieved 21 April 2021.
  10. ^ "Norway's Norse Atlantic Airways raises $165mn in IPO". ch-aviation. 14 April 2021. Retrieved 21 April 2021.
  11. ^ a b c d e f Buyck, Cathy (2 August 2021). "Norse Atlantic Inks Lease Deal With BOC Aviation for Six 787s". Aviation International News. The Convention News Company, Inc. Retrieved 12 August 2021.
  12. ^ a b Bertoletti, Mario (3 August 2021). "Norse Atlantic Airways Signs Second Dreamliner Lease Agreement". Airways Magazine. Retrieved 4 August 2021.
  13. ^ a b c d Nikel, David (10 August 2021). "Norse Atlantic Airways Unveils Viking-Inspired Branding, Launch In 2022". Forbes. Retrieved 12 August 2021.
  14. ^ a b Mayling, Samantha (10 August 2021). "Norse Atlantic 'on track' for take-off in first half of 2022". Travel Weekly (UK). Retrieved 14 August 2021.
  15. ^ "Norse Atlantic Airways unveils more plans, destinations". ch-aviation. 12 August 2021. Retrieved 12 August 2021.
  16. ^ Harper, Lewis (10 August 2021). "Norse Atlantic expects to operate 15 longship-liveried 787s by mid-2022". FlightGlobal. DVV Media Group. Retrieved 12 August 2021.
  17. ^ "Shareholders". Norse Atlantic Airways. Retrieved 5 October 2021.
  18. ^ a b Kleps, Kochan (15 March 2021). "Norwegian's Spin-Off Airline Set to Start in December". Airways Magazine. Retrieved 15 March 2021.
  19. ^ Fuller, Christian (18 August 2021). "Norse Atlantic Airways prepares to land at Gatwick Airport". The Argus (Brighton). Retrieved 19 August 2021.
  20. ^ Casey, David (29 September 2021). "Norse Atlantic outlines maiden US route plans". Routesonline. Informa Markets. Retrieved 7 October 2021.
  21. ^ "Norse Atlantic Airways Fleet Details and History". Planespotters.net. 6 August 2021. Retrieved 12 August 2021.
  22. ^ Buyck, Cathy (15 March 2021). "Norwegian Air Founder Bjørn Kjos Launches New Long-Haul LCC". Aviation International News. The Convention News Company, Inc. Retrieved 30 March 2021.
  23. ^ Nikel, David (15 March 2021). "Norwegian Founder Tries Again With New Low-Cost Transatlantic Airline". Forbes. Retrieved 14 August 2021.
  24. ^ Shepardson, David; Solsvik, Terje (24 March 2021). "UPDATE 3-U.S. should deny market access to Norwegian budget airline - lawmaker". Reuters. Retrieved 30 March 2021.
  25. ^ Reed, Ted (19 May 2021). "Norse Atlantic Signs Deal With Global Transport Workers As It Seeks Labor Backing For Transatlantic Flights". Forbes. Retrieved 2 June 2021.
  26. ^ Silk, Robert (27 May 2021). "Norse Atlantic's labor deal eases union concerns". Travel Weekly (UK). Retrieved 2 June 2021.
  27. ^ "The British Airline Pilots Association and Norse Atlantic Airways announce partnership to bring hundreds of jobs to the UK". British Airline Pilots Association (Press release). 22 September 2021. Retrieved 5 October 2021.
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