Norse Atlantic Airways has confirmed plans to run a fleet of ten long-haul aircraft next summer.
The Norwegian low-cost start up disclosed that it had agreed to lease out a fifth Boeing 787 Dreamliner for 18 months before the end of the year.
The carrier said: “The agreement will increase total cash profit during the sublease period and is in addition to the previously announced four aircraft that have been subleased.”
Norse has taken delivery of 13 of a total fleet of 15 Dreamliners and expects to receive the remaining two before the end of 2022.
All 15 aircraft are on long-term flexible lease terms agreed last year when lease rates were at historical low prices.
The low lease pricing is fixed for the full duration of the leases, with no inflationary adjustments, according to the carrier.
“For the first 12 months after delivery of each respective aircraft, Norse only pays for the aircraft on a power by the hour basis,” Norse said.
Chief executive Bjorn Tore Larsen added: “This additional sublease agreement provides a further opportunity to increase total cash profit during the lease period.
“We intend to operate ten Boeing 787 Dreamliner aircraft during our summer 2023 season, which will mark a substantial increase compared to our launch phase in 2022.”
The sub-lease deal came in the wake of the airline winning US approval to run direct transatlantic routes from Gatwick from next summer after an initial start-up phase this year.