Norse tapte 70,5 millioner dollar

Norse Atlantic reported a loss of $70.5 million in the second quarter, driven by higher fuel prices, lower aircraft operational utilization, and the potential sale of the company. The financial impact was affected by "higher fuel prices and lower utilization of flight operational disruptions," according to Norse's quarterly report.

Norse CEO Eivind Roald stated that they are not pleased with the financial results, but that they have taken important steps to strengthen commercial operations and financial platforms. For the year to date, losses have reached approximately $94.5 million. Norse has fallen significantly on the stock market this year, with shares down more than 89 percent since the beginning of the year.

The company experienced a decline in passenger numbers throughout the second quarter, with a 25 percent drop in April, 40 percent in May, and more than 40 percent in June. Flights were also reduced as fuel prices became more expensive. Norse carried 580 flights in the quarter, compared to 1,542 in the same period in 2025. Aircraft were about as full as the previous year, with load factor falling to 94 percent, from 96 percent the previous year.

Norse reported total revenue per unit (TRASK) in its operating segment was record high at $0.0615. Higher fuel prices have created trouble for the airline company, after conflict in the Middle East and closure of Hormuz Strait sent oil and fuel prices soaring. Earlier this year, the company warned cost cuts of $50 million in the year, including job cuts, permits, and relocation of the headquarters.

Before again warning the company of over a billion kroner in withdrawals due to fuel price hikes, John Fredriksen became one of the largest shareholders in the company after the financing was completed in June. Norse has now entered into a loan agreement of $52 million, the company reported in connection with the quarterly report.

It runs until 2027. Norse has also opened the possibility of selling the company. In May, it was revealed that JP Morgan Securities was hired to explore strategic options for the airline. At the end of July, the company announced that interest was far enough that they would proceed with a formal process that could end in sale, merger or collaboration.

Norse stated today in its quarterly report that several parties have signed non-disclosure agreements (NDA) related to the process. Norse has set its sights on leasing aircraft as a central part of the business in recent years. Six aircraft were leased to the Indian airline Indigo. In June, the company warned of the return of one aircraft, and by the end of July, it was clear that all aircraft were being returned.

The collaboration lasted for 18 months. It was shown that the challenges created by the situation in the Middle East for aviation and long-haul routes between India and Europe, with more expensive fuel, air traffic disruptions and longer flights, opened up "strategic opportunities we did not have before," and provided greater flexibility for the fleet as the strategic options were explored.

The airline also reported that they were already in talks with several other airlines about leasing opportunities.