Norse Atlantic renews P&O Cruises Caribbean charter flights deal

Norse Atlantic Airways has renewed a charter deal with P&O Cruises to fly passengers to ships in the Caribbean over the next two winters.

 

The agreement was disclosed as the long-haul low cost carrier reported that second quarter net losses had been trimmed down to $6 million from almost $32 million in the same period last year as part of a focus on operational efficiencies.

 

The airline achieved its first second quarter operating profit of $4.4 million since launching flights three years ago.

 

More: P&O Cruises hails new flight partner after Maleth controversy [Nov 24]

 

Norse Atlantic operates first P&O Cruises charter flight [Nov 24]

 

This came as passenger revenue rose to $187 million from $147.3 million in the same period last year.

 

The improved performance came as part of a transition to lease out part of its fleet of Boeing 787 Dreamliners in a “dual leg” model with charters reducing market risk while complementing the airline’s own scheduled network.

 

Norse Atlantic operated 11 aircraft across its own network in the last quarter with one on a long-term ACMI [aircraft, crew, maintenance and insurance] lease agreement with Indian airline Indigo. 

 

Five additional aircraft will be transferred to Indigo for ACMI operations in the coming months, subject to regulatory approvals.

 

The Norse fleet will comprise of six B787s from early 2026 in its own scheduled network. 

 

“This will strengthen our strategic and financial position with predictable ACMI revenue and cash flow in a volatile market while optimising own network, flying routes with maximum passenger and fare potential,” founder, chief executive and major shareholder Bjorn Tore Larsen said.

 

He noted “some softness” in the transatlantic market going into the summer season but strong demand for Asia and Africa autumn and winter flights.

 

A “world-leading” load factor of 97% was achieved in the second quarter, up 15 percentage points from last year, and 96% for the first half. 

 

Larsen said: “Momentum into the third-quarter high season is good with bookings to date confirming the positive trend in load factor and passenger revenues.  

 

“We are pleased to have renewed the charter agreement with P&O Cruises for next two winter seasons, flying cruise passenger from the UK to the Caribbean in the November to March period.

 

“To round off, since the start of operations, Norse has carried 3.6 million passengers as of end-June 2025, delivering affordable, value-for money air travel to customers worldwide since our inaugural flight three years ago.”