At the end of November, Norse Atlantic Airways signed a detailed letter of intent with a reputable international airline for wet lease agreements for 6 aircraft, subject to final agreements, mutual corporate approvals and regulatory approvals.
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The initial contract term could be further extended, subject to regulatory approval, to cover a longer-term period, with an estimated contract value of USD 462 million over that extended term. Two aircraft are expected to be deployed in February 2025, with an additional four aircraft expected in September 2025.
Norse will be entitled to payment for 350 block hours per aircraft each month, with additional payments possible if utilization exceeds 350 hours per month.
