Norse Atlantic Seeks New Lease on Life

Norse Atlantic Airways is struggling to stay afloat amidst low cash reserves and rising fuel costs. The Norwegian long-haul budget carrier inherited six Boeing 787-9 Dreamliners from Norwegian, but after IndiGo pulled out of a lease agreement, Norse is looking for a new partner.

Norse is in negotiations with Pakistan International Airlines (PIA) and Biman Bangladesh Airlines to lease up to six of its 787s. The terms of the lease agreements are unclear, but could range from a dry lease (just the aircraft) to a wet lease (including crew, maintenance, and insurance).

The move is aimed at generating stable revenue for Norse and offsetting dwindling cash reserves.