Introducing Norse Atlantic Airways @ Sparebank 1 Markets December 1, 2021 CEO Bjørn Tore Larsen
Great welcome!
We are building a lean team with a strong people and customer-oriented culture
Teamwork is key: "If we take care of our people, our people will take care of the company"
"Flight attendant union signs agreement for 700 jobs with Norse Atlantic"
"This is what respect for workers and our unions looks like" - AFA President Sara Nelson
Our fleet
We have competitive long term leases for 15 Boeing 787 Dreamliners, the most efficient, environmentally friendly and comfortable aircraft in the skies. Lowest carbon emissions per passenger.
Destinations
We will offer affordable point-to-point services on popular routes
between Europe and the U.S.
Flexibility is key to our business model
- Norse is taking a careful and planned approach to start-up based on demand.
- Our plan reflects the uncertainties associated with new COVID developments and travel restrictions.
- Norway AOC on track and expected to be issued by year-end.
- First flight expected to take off from OSL in spring 2022.
- We are ready to scale up in line with demand.
- Aircraft delivery according to schedule from December through March.
Resilient financing approach allows for patience
- Current cash balance in excess of USD 135 million.
- No debt in the company or other major obligations other than leases with flexible "power by the hour" payment structure at outset.
- Cash burn is on track and consistent with our guidance during our private placement and subsequent public listing in March 2021.
- Ramping up ahead of first flight, our expenses will increase but we have more than sufficient runway to allow time for international travel to normalize.
www.flynorse.com