finance
Norse Atlantic reports $95 million loss after leasing strategy stumbles
Photo: MarcelX42 / CC BY-SA 4.0 — via Wikimedia Commons (CC BY-SA 4.0) · source
Norse Atlantic reported a $95 million net loss for the first half of the year after a strategic pivot toward leasing aircraft faltered. The budget airline had allocated six of its Boeing 787s to Indian carrier IndiGo, but lower-than-expected flight hours and elevated fuel costs severely impacted overall revenue. The companies will terminate their damp-lease agreement in November, returning the widebodies to Norse as it pursues a potential sale. For pilots, this financial instability underscores the inherent volatility of long-haul discount business models.