Norse Atlantic ‘well placed’ to act if oil prices continue to rise

Norse Atlantic Airways has insisted it is “well placed” to cope with rising oil prices as it heads into the weaker winter travel months.

The low cost long-haul carrier, which has a network of transatlantic flights from Gatwick, recorded a six consecutive month of load factor growth in August to hit 86% – up one percentage point on the July level. 

The performance came as the airline carried 151,420 passengers on 520 flights, operating without any cancellations. Norse Atlantic said 70% of flights landed within 15 minutes of the scheduled arrival time. 

Founder and chief executive Bjorn Tore Larsen said: “I am very pleased that our load factor has continued to increase month-on-month, demand for Norse’s affordable fares and excellent service has been strong throughout the summer. 

“For the fourth consecutive month we have had zero cancellations which is a testament to our robust operations and dedicated colleagues from across the airline.”

He added: As we head into the winter trading period Norse Atlantic is well placed to act should oil prices continue to rise as they have done recently. 

“Our ability to quickly respond and adapt our network as necessary, including careful control of our cost base, are the hallmarks of our low-cost operating model. 

“The global cargo market has continued to decline as rates and demand have fallen following the post-pandemic surge. 

“Our competitive rates and direct route network offer a good value proposition for cargo forwarders, however, our forecasts for transported cargo have been lower than anticipated.”

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