While waiting for the supply of more factory-fresh widebody jets, Air Europa is temporarily looking to add some borrowed planes to its fleet. Spain’s third-largest airline has given four sub-leases to Norwegian startup Norse Atlantic’s Boeing 787 Dreamliner, currently sitting on the ground in Oslo.
New low-cost long-term optimists plan to begin operations this spring. However, due to uncertainty following the Russian invasion of Ukraine and the subsequent rise in oil prices, Norse Atlantic postponed its launch until this summer. It has decided to lease a few of its planes to earn some vital cash until operations begin in earnest.
The Norse Atlantic has received nine Boeing-Dreamliners parked at Oslo Gardermoen Airport. The carrier plans to take six more deliveries for 15 planes next month. Widebody jets fly for all previously failed long-distance branches of Norwegian Air.
However, idle jets with accompanying parking fees (especially at the expensive Norwegian rates) are not a pleasure for any airline. For example, Air Europa will temporarily take two 787-8s and two 787-9s out of the hands of Norse Atlantic. The jets will be delivered to the Spanish carrier in the second quarter, with a sub-lease agreement for an initial period of 18 months. Norse Atlantic CEO Bjorn Torre Larsen commented on the deal.
“This sublease agreement with Air Europe provides a compelling opportunity to generate positive cash flow from the aircraft that we did not plan to fully utilize in our startup phase. The agreement strengthens our already strong financial position as we maintain integrity to our strategy of careful market entry and ramping based on customer demand.”
Tickets will go on sale before the end of April
Norse Atlantic is currently planning to start flights from June this summer. The airline has confirmed that it wants to start selling tickets before the end of the month. It has not yet released its route network, but previous plans suggest it could run from Oslo, London, and Paris in Europe to Stuart in New York, Los Angeles, and Fort Lauderdale on the other side of the Atlantic.
Although no schedule has been confirmed, the airline recently secured a slot at London Gatwick. This opens up a significant market for startups that the domestic budget airline Norwegian Air hopes to avoid mistakes made during long journeys. Speaking to the International Aviation Club in Washington and quoting RootsonLinlersen,
“We’re not Norwegian. Let’s start with that. We’re a lean and focused operator that will do just one thing: fly long distances… we’re going to focus on one thing at a time.”
The Dreamliners will be joining Air Europe with several of their siblings. The Spanish carrier is already operating a fleet of eight 787-8s and ten 787-9s, with the next 11 on the way.
Were you surprised to see Air Europa leasing another 787s? Do you think Norse Atlantic operations will finally land in June, or will we see more Scandinavian startups? Leave a comment in the section below and share your thoughts.