Low-fare long-haul operator Norse Atlantic has reported its first-ever second-quarter operating profit driven by a record 97% load factor and 36% passenger growth.
Q2 2025 saw a 27% increase in passenger revenue, with earnings before income tax at USD 4 million despite a USD 6 million net loss.
The airline said it is transitioning to a “dual-leg model,” which balances its scheduled network with ACMI charters. This strategy is intended to reduce market risk and provide more predictable revenue streams.
Norse has a long-term charter agreement with P&O Cruises for two winter seasons, flying passengers from the UK to the Caribbean. The airline also has a significant and expanding partnership with IndiGo, with one Boeing 787-9 already in operation for the Indian airline since March 2025 and five more planned for early next year.
“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 focus on operational efficiencies,” said the company in a statement.
“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 Q2, 11 aircraft were operated within the airline’s own network, and one was on a long-term ACMI deal with Indigo. Five additional aircraft will be transferred to Indigo for ACMI operations in the coming months, subject to regulatory approvals. From early 2026, the fleet in Norse Atlantic’s own scheduled network will be made up of six aircraft.
“This will strengthen our strategic and financial position with predictable ACMI revenue and cash flow in a volatile market while optimising our own network, flying routes with maximum passenger and fare potential,” said the company.
Photo: Norse Atlantic
Norse Atlantic has seen a growth in passenger revenue.
