Norse Atlantic ASA: Strong Revenue Growth and Strategic Developments

Norse Atlantic ASA, a semi-state-owned airline based in Oslo, Norway, has reported significant financial and strategic developments in early 2025. The company, listed on Oslo Bors ASA, has seen a notable increase in its financial performance, driven by a new commercial strategy and operational model.

Financial Performance Highlights

In the first quarter of 2025, Norse Atlantic ASA achieved a record load factor of 95%, marking a 51% year-over-year increase in passengers flown. This impressive performance is attributed to the company’s new commercial strategy and the execution of a dual ACMI (Aircraft, Crew, Maintenance, and Insurance) and network operating model. The average revenue per passenger in its own network increased by 5% year-over-year, while the Passenger Revenue per Available Seat Kilometer (PRASK) rose by 27%. Additionally, the company reported a 23% increase in revenue, excluding a USD 28.7 million gain from aircraft redelivery.

CEO and major shareholder Bjørn Tore Larsen highlighted the positive start to 2025, emphasizing the world-leading load factor, significant volume growth, and increased revenue per passenger compared to the same period in 2024. The improvements across all key performance indicators are a direct result of the new commercial strategy and operational model.

Strategic Developments

In addition to its financial achievements, Norse Atlantic ASA has announced a renewal of its partnership with P&O Cruises. This strategic alliance is expected to enhance the company’s service offerings and expand its market reach.

Shareholding Disclosure

On May 22, 2025, Norse Atlantic ASA disclosed its shareholding information, providing transparency to its investors and stakeholders.

Market Overview

As of May 19, 2025, Norse Atlantic ASA’s close price was NOK 6.5, with a 52-week high of NOK 11.34 on June 11, 2024, and a 52-week low of NOK 1.498 on October 13, 2024. The company’s market capitalization stands at NOK 950,369,406.

These developments underscore Norse Atlantic ASA’s strategic focus and operational efficiency, positioning it for continued growth in the competitive airline industry.