Norse Atlantic ASA

Earnings Release • Mar 10, 2025

Completion of redelivery of three 787-8s

Completion of redelivery of three 787-8s

Norse Atlantic Airways has completed the previously announced redelivery of

three Boeing 787-8 aircraft. The aircraft were initially delivered to Norse

Atlantic in 2022 and since then have been on continuous sublease on a dry lease

basis to another airline. Prior to redelivery, the three 787-8 aircraft had

approximately four years lease length remaining. Following the transaction Norse

Atlantic has a uniform, flexible and cost-efficient fleet of 12 Boeing 787-9

aircraft only, with remaining lease lengths of 7 to 14 years and an average

lease length of ten and a half years.

The transaction will result in a significant accounting gain that will be

recognized in Q1 2025.