Almost 1 million passengers across 4,000 flights flew with Norse Atlantic Airways over the course of its first full year of operations. Revenue increased by 104% to USD 94.8 million in Q4 2023 compared to Q4 2022 and 100% of planned flights were completed during the quarter.
Follow Aeronews on Facebook, Twitter, LinkedIn and TikTok
Norse said that 230,489 passengers were carried in Q4 2023, up 70% compared to Q4 2022, while load factor increased by 12 percentage points to 70% in Q4 2023 compared to the same period of 2022. Moreover, revenue per passenger increased 42% to USD 340 in Q4 2023 compared to Q4 2022, and ASK was up by 81% in Q4 2023 compared to Q4 2022 as Norse brought more aircraft into production.
Bjorn Tore Larsen, CEO and Founder Norse Atlantic Airways, said: “Q4 marked the completion of Norse’s first full year of operations, in which the Company carried almost one million passengers across 4,000 flights. Our robust operational excellence was clearly demonstrated as more than 99.5% of all scheduled flights were completed as scheduled despite growth in both the summer and winter schedules compared to the previous year.”
Norse sees positive signs for the summer season as sales year to date are up approximately 80% compared to the same period previous year. Furthermore, charter revenues booked and under negotiation far exceeds charter revenues achieved in 2023, and the airline now sees a clear path to profitability on a year-round basis.
72% load factor in February 2024
February marked another month of continued year on year positive performance. The month saw an average load factor of 72 per cent, representing an increase of 22 percentage points (p.p.) year on year. During February, Norse Atlantic Airways had 50,694 passengers across 225 flights, including 30 charter flights. 82 per cent of flights arrived within 15 minutes of their scheduled arrival time with a completion rate of 100 per cent.
“The ability for Norse to be agile and quickly respond to market demand remains our core strength and the result of previously adjusted winter capacity has led to a strong February load factor. Our charter operations continue to grow, with 30 being completed during the month, and we are looking forward to commencing ACMI operations with Air Peace in April and launching their first flight between Lagos, Nigeria, and London”, stated Bjorn Tore Larsen, CEO and Founder Norse Atlantic Airways.